Economic, social and health impacts in 2021 have led to organisations slowing down hiring efforts. This could lead to a relook at their growth strategy in 2022. In 2021 alone, numerous events have occurred, some of which have been influenced by the coronavirus pandemic.
With economic, social, and health impacts globally, organisations have had to slow down hiring efforts only to have them pick up in the new year.
According to Kirsty Hulston, Regional Director of Hays Singapore, “These headcounts will be a mixture of replacement and new roles that have come about as companies try to find pockets of growth and return to pre-Covid levels.”
Identifying the top talent trends in 2022 will guide organisations with their talent acquisition planning and strategy. Improving recruitment processes along with staying atop new trends is key to making considerable headway in everyday work.
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1. Continuation of The Great Resignation
The biggest changes shaping 2021 can be attributed to a phenomenon known as The Great Resignation.
“The pandemic forced [people] to take stock of their lives and gave them the opportunity to reimagine it,” notes Anthony Klotz, a management professor at Texas A&M University who coined the term. Reasons for leaving or changing jobs vary from burnout caused by the pandemic and finding purpose to wanting higher salaries.
A recent survey by Indeed also revealed that one in four Singaporeans plan to leave their jobs by mid-2022, citing job dissatisfaction, stress levels and heavier workloads as top reasons.
Organisations need to work on adapting their talent management strategies in order to retain and attract professionals. Methods include raising starting salaries, offering sabbatical leave, and bonuses. Before implementing such measures, talent management executives should identify root causes to better develop tailored solutions.
2. Focusing on improving internal talent
With the continuation of The Great Resignation, it’s only natural that the employees you have become the ones you need.
Gartner reports that Chief Human Resources Officers or CHROs will be focusing on reskilling internal talent, with four in 10 leaders looking at developing future leaders. A report by NTUC LearningHub states that 73% of professionals consider a need to upskill employees to adapt to the new normal.
Talent shortage compels leaders to look inward at their own learning and development pipelines, with the goal of improving internal mobility. From filling specialised roles to promoting internally, organisations need to work smarter at keeping talent management effective.
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Employees may be facing more challenges at work as a result of the pandemic and thus require greater support with training. To retain talent, organisations can increase training opportunities, provide coaching support or mentorship to existing employees.
3. Increasing employee well-being
Greater focus will be catered to keeping employees satisfied, motivated, and productive. The shift to remote work has disrupted our ways of working, spurring some changes that take time to adapt to.
An increase in virtual meetings, social isolation, and the blurring of personal and professional lives are some of the factors contributing to burnout and lowered well-being. Putting employee well-being first involves offering mental health benefits, opportunities for interaction, and fitness perks such as Zoom workout classes.
Leaders are also required to adopt the right vernacular when communicating with their employees, by being sensitive to their needs and listening more.
2022 looks set to be a year of change. After a year of ups and downs, talent management policies will have to factor in collectivity and a focus on the people first. The move to a more collaborative workforce begins with culture change within organisations.
