Executive leaders and Human Resources departments all over the globe will be focusing on solutions to critical challenges that 2022 and beyond uniquely represents. If you want to be successful, what got you here won’t get you there. Here’s are some things companies will wrestle with in the next several years:
- Unprecedented employee attrition and dramatically increased workforce mobility require expert talent attraction and a strong emphasis on employee retention.
- Tackle issues around the evolution and leadership of multi-generational team members must be agilely addressed.
- Keeping pace with new talent needs in benefits, compensation, and culture is necessary to make the company become one of the best places to work.
- Strengthening DEI and B (Diversity, Inclusion, Equity, and Belonging) programs is increasingly vital so that companies can innovate, change, lead and grow as the communities we serve innovate, change, and coalesce.
- HR practices and new initiatives must align, in “lockstep,” with the overall company vision/mission, and HR communicates that alignment consistently and clearly, both internally and externally.
What’s Next?
The road ahead will require bold action and risk-taking. Only time will tell whether pressure from employees and job seekers will create the needed change. But as the Great Resignation has made abundantly clear, there is no returning to the old way of doing business.
I believe the Great Resignation is a period of significant disruption. We are at a critical crossroads, and many of the challenges ahead can intensify already disparities. But we have a real opportunity to rethink what the future of work could look like, and finally roll up our sleeves and make the workplaces better than ever before.
Finally, the hard truth is that labor shortages become more intense, and the labor markets become more competitive – and with an increasingly diverse workforce includes talent from different generations and demographics with different values, views, and traditions. Companies that are not making an effort to become more inclusive, socially responsible, and human-centered will not attract and retain top talent.