The Evolving Workforce
In the new world of work, it’s no longer enough to simply overlay a hybrid model on an existing workforce strategy that was conceived for another era.
We are living in a dynamic, rapidly evolving business environment. Companies must rise to the challenge by marshaling talent in fundamentally novel and innovative ways.
Life, physical and social science occupations had the second-lowest unemployment rate of all U.S. occupations in April 2022 at 0.6%.
Rather than worry about losing or recruiting new employees, companies can look internally first, in a move that also boosts workers’ careers.
A recent study from McKinsey found that skills acquired at work — not through formal education — are linked to half of the average person’s lifetime earnings.
What’s more, those who work for employers offering more internal opportunities to upskill are more likely to be upwardly-mobile for the rest of their careers.
A huge talent pool is always out there searching, and companies need to build a reputation for career development to attract the best and brightest out of this restless group,” writes McKinsey’s Bill Schaninger and Anu Madgavkar.
It’s good for business and even better for your workforce, so it’s no surprise that?employee retention strategies?are the trending topic of the moment. The best workers do the best and the most work. But many companies do an awful job of finding and keeping them.
Since the onset of the Great Reshuffle last year, Americans have been leaving their jobs in search of better career development opportunities — and in turn, more money. ___________________________________________________________
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In the book?Leading Organizations,?McKinsey senior partners Scott Keller and Mary Meaney address the basic issues facing leaders when it comes to attracting and retaining talent and developing the talent. ___________________________________________________________
As we enter a new phase in the post-pandemic world, the industry is learning how to bounce back, whilst recognizing the importance of its staff.
In the aftermath of ‘The Great Resignation’ and with staff shortages still an issue,?employee retention?remains a topical issue.
Because of this, it’s also a candidates market, meaning that businesses have to work even harder on their?employee retention and motivation strategies, to retain and attract the very best talent.
Almost 11 million job openings in the U.S. remain unfilled, and the labor and skills shortage was?one of the top disruptions?cited by CEOs across multiple surveys.
To attract and retain talent, employers must certainly have a strong culture and a well-developed corporate purpose.
In my experience, other top talent outside the company, ?will also increasingly be attracted to companies when there’s a strong alignment of values according to Forbes Magazine.
Empower others to Succeed
A variety of megatrends (demographic, economic, technological, etc.) coupled with rapid advances in technology have boosted life sciences growth over the last decade.
Fierce competition for talent—exacerbated by demographic changes, pandemic-induced burnout and shifting family responsibilities—presents challenges as the industry seeks to meet the growing demand for its products and services.
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We’ve got news for you – your workforce was busy ‘upskilling’ (learning new skills) during?the lockdown. Why? Because training is key to growth and opportunities.?Employee retention –professional development, they’re one and the same.
If you aren’t already investing heavily and training and development, now is the time. What’s more,?94% of employees?would?stay at a company longer if their?training and development?were invested in. It can also be as?simple as offering internal mentorship or working with team members to identify areas they?wish to improve as part of a?personal development plan.
Cultivating a learning community
I like to think of the Validation and Regulatory Compliance Professionals group that I started 13 years ago and manage as an active professional-based online learning community that can help members with their career development.
Members in the group time and time again have said that they are looking for quality content to explore online, especially when it comes to professional development and learning new skills.?
Together, we have celebrated new roles and successes as a result of asking questions, posting quality content and providing a platform to network in the group.
In addition, our members have bounced ideas off one another, generating a vibrant conversation and enhancing the interest and excitement around technical and soft skills, career management and professional development.
The 11,000-plus members of the LinkedIn group has also been a good place to share news about upcoming content about professional development courses, events such as webinars and seminars that are of interest to our already engaged audience.?
With the growth of technology and the breakdown of geographic barriers through the internet, this online community is a hub for innovation and learning. Like “real-life” communities, the Validation and Regulatory Compliance Professionals online community has its operating norms, formal and informal roles, shared interests, and trust, which creates the foundation for effective learning.
Most important is the ability to engage people in a learning process over time. And because of this responsibility and shared interest, there are additional options for fostering an active online learning community that I'm rolling out next year are:
·??A Members Area: Creating a Members Area on CoursWorx’s (sponsor of the LinkedIn group) website, which allows registered users to access a variety of premium content - from chat to forums, blogs and more.
·?An online forum: Create a forum as part of CoursWorx's website, allowing users to support one another’s growth and learning.
·?Social media groups: creating private social media groups for learners to engage in.
·?Online communication platforms: Utilize online communication platforms such as Slack or Discord for our learning community.
Connection Is More Vital Than Ever For An Adaptive Workforce
Companies are facing a shortage of competent, skilled workers while struggling to train adaptable people. Companies are going to be successful when they provide opportunities for workers to feel connected,?
Learning has become an essential asset for an adaptive workforce and corporations are realizing to keep their talent, they need to engage their employees.
Companies that are adapting and giving their workforce a chance for success for greater achievement are understanding online learning communities are an essential piece of the puzzle.
Building a thriving online or corporate community for learning could be the answer.
According to HubSpot, community platforms can give you tighter controls over your branding and messaging -- without having to compete with the noise of other communities on the same platforms like Facebook or Twitter. ?
Community platforms also allow you to go beyond the limitations of social networks. Features such as deeper analytics, single sign on (SSO), gamification, more access for your employees and custom design allow you to create a better experience for your adaptive workforce.
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