Talent Acquisition Newswatch - Issue 1.59
TOP STORY
The fear of being considered unemployable is on the rise as organizations are reevaluating the roles they want to fill and utilizing technology to automate tasks, leading to a shift in job requirements. Experts suggest tactics such as focusing on work that one loves, making oneself more visible through activities like writing on LinkedIn or serving on nonprofit boards, and making adjustments to resumes to align with AI filters. Individuals are advised to not limit themselves to traditional career paths and to instead embrace a 'career lattice' approach, taking on roles at the same level or below to acquire new skills and broaden their value to organizations. Networking strategies are also key, with emphasis on reaching out to former colleagues, seeking informational interviews, and being proactive within one's current organization by showcasing skills and willingness to take on new roles.
COMPENSATION & BENEFITS
Paid time off and competitive pay are identified as the top priorities for employees globally, based on a poll by Kellanova among 3,500 respondents from six countries. At least 60% of the participants expressed the desire for paid time off, while 58% emphasized the importance of competitive pay and the opportunity for personal growth and development. Additional essential factors in a workplace that were highlighted include equity, diversity, and inclusion (58%) and the ability to bring one's authentic self to work (51%).
Small businesses are finding that offering summer hours, such as a reduced schedule on Fridays between Memorial Day and Labor Day, can help boost employee morale by allowing them to deal with summer childcare gaps and feel valued in their job. Reduced summer hours can also make smaller businesses more attractive to prospective employees in a competitive job market, providing a creative benefit to stand out. While summer hours work well for some companies, it may not be suitable for all industries and types of employees, as seen in examples like retail stores and hourly workers who prefer consistent pay. Business owners like Michael Wieder from Lalo and Greg Hakim from Corporate Ink have successfully used summer hours as a recruitment and retention tool, emphasizing the importance of considering company needs and employee preferences when implementing such policies.
The shift to working from home (WFH) became a necessity during the pandemic and has now turned into a global point of contention between workers and management over remote and hybrid working arrangements. The U.K. leads Europe in remote working, with British employees spending twice as much time working remotely compared to their French counterparts, driven by factors like individualism and the country's service-oriented economy. Various factors such as Wi-Fi connectivity, lockdown experiences, and sector mix influence remote working rates in different countries, with a strong preference for flexible working arrangements persisting among employees. The debate over the long-term impacts of remote working on performance, career progression, and job security continues to evolve, highlighting the ongoing uncertainty in managing remote and hybrid work arrangements globally.
DIVERSITY, EQUITY & INCLUSION
Companies are encouraged to attract disabled candidates by showcasing their commitment to diversity, equity, and inclusion (DEI) with heartfelt language and concrete evidence like personal messages from CEOs and testimonials from disabled employees. Employers should provide statistics on hiring, promotion, accommodation fulfillment, and retention of disabled employees, as well as highlight any awards received for DEI efforts. Job candidates are advised to focus on their hard skills during interviews and delay discussions about accommodations until they have established a rapport with the hiring team. Research over the last five years offers strategies for both employers and job candidates to improve the hiring process for disabled individuals.
Coco Brown, CEO of Athena Alliance, is empowering women to overcome self-doubt and imposter syndrome to secure leadership positions in their industries. Athena Alliance has supported over 450 women to join boards and has a network of more than 20,000 members, aiming to challenge women to understand their roles and abilities in their industries. The organization focuses on learning, connection, and community to help members advance their careers and impact, encouraging women to think bigger and strategically about their professional growth. Athena Alliance recently launched an AI Governance Playbook authored by diverse senior women executives, emphasizing the importance of diverse perspectives in decision-making for sustainable and ethical integration of AI.
HR INSIGHTS
Allowing employees to choose their own job titles can lead to increased job satisfaction, motivation, and enhanced creativity and innovation. This empowerment allows employees to align their roles with their personal and professional identities, making them feel more valued and appreciated. Personalized job titles can stimulate discussions, foster collaboration, and create a culture of creativity and innovation within the organization. It can also significantly improve personal branding, professional identity, and help employees differentiate themselves in the job market. The flexibility of choosing job titles can attract top talent, improve employee retention, and create a more engaging work experience. However, a potential concern lies in the lack of standardization and clarity, which can lead to confusion and inefficiencies. Establishing guidelines, providing explanations for unique titles, and regular reviews can help mitigate this issue.
If Labour wins the general election, significant changes to UK employment law are expected, with a focus on employee rights and protections. Key proposed reforms include ending 'one-sided flexibility', banning exploitative zero-hours contracts, and cracking down on 'fire and rehire' practices. Labour also aims to provide day-one protection for employees, simplify worker status categories, strengthen redundancy rights, and introduce a right to switch off from work. Businesses should prepare for potential changes by auditing their practices and staying informed on how these new laws may impact their operations.
LEADERSHIP & TALENT MANAGEMENT
There is a growing concern among business leaders that AI could potentially take over the role of a CEO, with surveys showing a significant percentage believing AI could replace or automate most tasks of a chief executive. While AI is often associated with efficiency in rote tasks, recent research indicates its capabilities extend to management-related activities like problem-solving, communication, and information synthesis. Experts suggest that AI should prompt managers, including CEOs, to rethink how they operate at the top of their potential and consider the broader implications of AI on job roles and responsibilities. Companies are advised to conduct thorough testing and review of job architecture before implementing AI-driven changes organization-wide, as AI is seen as more than just an efficiency tool with the potential to reshape the expectations for executive-level positions.
领英推荐
A pilot conducted by the Chartered Management Institute (CMI) and Timewise highlighted that UK managers lack confidence in navigating hybrid work, urging employers to equip leaders with necessary skills for future-fit working practices. The two-month pilot involved leaders from various sectors and provided training on effective management, building a hybrid team, and motivating teams, resulting in significant skill improvements in conflict resolution, team motivation, building connections, managing underperformance, and understanding biases in hybrid working. Investing in specific hybrid management skills and capabilities was found to benefit not only managers but also their teams and organizations, emphasizing the importance of managers in designing flexible cultures and new ways of working. Managers are seen as crucial in ensuring the long-term viability of hybrid working, requiring proactive approaches, tools, and training to successfully navigate the complexities of hybrid work environments in the twenty-first century.
Well-being among managers is reported to be alarmingly low compared to individual contributors and executives, scoring 3.69 on a 5-point scale according to a Perceptyx report. Middle managers face challenges such as work-life balance, workload, and stress management, often feeling squeezed between demands from above and below. Career development, inclusion, and confidence in leading through organizational change are highlighted as key factors that can improve manager well-being, retention, and ultimately benefit front-line workers. To enhance their effectiveness, managers may require better training and support for employee growth, especially new managers who need guidance on leadership, habit-building, and skill application.
RECRUITING & RETENTION
Personality hires are individuals hired primarily for their charisma, interpersonal skills, and ability to boost morale in the workplace, rather than their technical expertise. These employees play a crucial role in enhancing relationships with clients, improving work culture, and lightening the mood in the office. While some traditional employees may feel resentful towards personality hires who are rewarded for their likability over technical skills, others emphasize the importance of personality in driving value for companies. Having a balance of both technical skills and a positive personality is seen as the ideal scenario, as it contributes to a more engaging and successful work environment.
Tech industry experts are shifting the conversation towards borderless hiring for technology roles as the future of work, emphasizing the idea that remote work is just the starting point. Borderless tech hiring has seen significant growth in the last few years, with cities like Beijing and Delhi surpassing U.S. tech hubs in terms of tech talent workforce, indicating a global trend in tech recruitment. CEOs like Jeremy Johnson and Adam Jackson believe in the power of borderless teams and asynchronous workforces, highlighting the benefits of increased talent reach, cost-effectiveness, and innovation. While challenges like time zone coordination, compliance, and payroll exist in global operations, the consensus is that borderless hiring will continue to shape the future of work in the tech industry, offering new opportunities for companies to thrive in a globally connected landscape.
Monster and CareerBuilder, two prominent job board companies, are set to merge later this year, with existing CareerBuilder investors holding a controlling interest in the joint venture. Randstad, the parent company of Monster, will retain a minority equity interest in the combined entity, which will be managed by senior leaders from both organizations. The merger aims to create a job board with increased scale and reach, offering shared resources and solutions to benefit both job seekers and employers in an evolving work environment. The agreement is expected to be finalized in the third quarter of the year, pending regulatory approval.
LABOUR MARKET INSIGHTS
A new study by ADP reveals that flexibility is becoming less important for workers compared to factors like salary, job security, work enjoyment, and career progression. Only 25% of workers prioritize flexible hours, down from 33% in 2022, while 15% value flexible locations. The report emphasizes the increasing importance of employee engagement, ongoing skill development, and clear communication for employers in the evolving workplace landscape. Despite pay being the top priority for most workers, dissatisfaction with pay is high, with expectations for pay increases not always meeting reality.
A study conducted by multiple organizations revealed that over half of UK professionals believe businesses are not ready for a sustainable future, with a similar percentage foreseeing a green skills gap. The research emphasized the need for training to prepare the workforce for green jobs, with demands for expertise in waste management, circular economy, resilience building, climate change mitigation, and other sustainability-related fields. Employers are urged to integrate sustainability into their hiring processes, seek candidates passionate about sustainability, and create a learning-centric culture around green skills to meet the growing global demand for such expertise. Technology, AI, and online platforms are seen as key tools to bridge the green skills gap, offering personalized learning pathways and immersive training experiences in advanced green technologies.
PwC Reports 'Great Resignation' Continues into Third Year with Workers Focusing on AI and Upskilling
A PwC survey of over 56,000 workers revealed that 28% are likely to switch employers in the next year, a higher percentage than during the 'Great Resignation' of 2022. Workers are increasingly embracing new technologies like generative artificial intelligence (GenAI) and focusing on upskilling to cope with rising workloads and workplace uncertainty. Employees using GenAI daily expect it to enhance their efficiency in the coming year, with many foreseeing potential salary increases and improved work quality as a result. To retain talent and navigate workplace pressures, employers are urged to invest in staff and technological platforms, as job satisfaction alone is no longer sufficient in the current workforce landscape.
A study by Boston Consulting Group (BCG) has highlighted an AI skills gap in the UK, with corporate leaders increasingly using AI in their jobs while frontline workers lack adequate training. In the UK, 83% of leaders reported regularly using generative AI, but only 21% of frontline workers received necessary training, showcasing a significant disparity. The report also indicated that the UK ranks among the least confident countries in implementing AI at work, with similar trends observed globally between leaders and frontline staff. Workers who used generative AI reported time savings, but concerns about job displacement and the need for inclusive AI implementation and training were emphasized by experts.
The share of part-time job postings has been increasing since 2022, while full-time postings have remained stagnant, according to a report from Indeed Hiring Lab. Employers across various sectors seem to be favouring part-time roles over full-time jobs as a potential response to attracting workers or adjusting to a cooling labour market. Sectors like beauty and wellness, marketing, hospitality, and media have seen significant growth in part-time options at the expense of full-time positions. As businesses face challenges in training workers for technological advancements like AI, there is a shift towards hiring more part-time and contingent workers for increased flexibility and adaptation to changing talent requirements.
QUOTE OF THE WEEK
“What makes a good leader? And how does a good leader show strength under pressure? The answer is a simple one: Doing the right thing at the right time for the right reasons.” – Capt. Sully Sullenberger, Retired Pilot, Author and Safety Advocate
Great insights shared, Zabe Khan! Your newsletter captures the essence of the evolving landscape of talent acquisition with precision and creativity. Keep up the fantastic work in transforming recruitment strategies for the future of work.