Talent Advantages is crucial, yet almost 70% of Organizations are still striving to attain it !

?? 38% of employees say they’re likely to quit in the next year and are more willing to leave a job to find what they want. Organizations should consider more than retention and boost motivation.

??To build “Talent Advantage” an organization must channel flow with aligned strategies for untethered culture, expanded rewards and agile skills building.?

?? Hybrid and remote working have created a larger distributed workforce with new ideas of connectivity and value.

?? The conversation about GenAI has moved beyond adoption rates and now ties to talent health and skills building.

Just 32% of employers have the strategic people capabilities to build a Talent Advantage connected to better productivity and business outcomes, according to a new interesting research published by 安永 using data ?? from a survey of 17,350 employees and 1,595 employers from organizations with 500 or more global employees, represented 27 sectors and 23 countries in August 2024.

?What is a 'Talent Advantage'?

Researchers found that organizations’ success in the mid- to long-term will rely largely on their ability to excel across five key dimensions:

1?? Talent health and flow

2?? Work technology and generative AI (GenAI)

3?? Total rewards priorities

4?? Learning

5?? Skills and career pathways

6?? Culture and workplaces

?The benefits of Talent Advantage companies

Researchers noticed that employers with a Talent Advantage report better outcomes related to culture, productivity, talent retention, and business outcomes.

Researchers also discovered interesting below statistics:

?? 32% of organizations with a more strategic, advantaged people function are 7.8 times more likely to say their company has successfully navigated external pressures,

?? 6.5 times more likely to say productivity has improved significantly in the past two years ?? 5.8 times more likely to say they are over-performing significantly in the current economic conditions.

?Impact or assessment of GenAI at work

Researchers noticed that GenAI becomes more prevalent in the workplace, evaluating its impact is increasingly essential.

Employees have a 37% net positive rating of the technology’s perceived impact on productivity, a 34% net positive view on how work is done in their sector and a 36% net positive view on its ability to help them focus on higher-value work. Employer assessments for those categories are nearly twice as positive.

?? In conclusion, researchers suggest five key actions for organizations aiming to achieve a Talent Advantage:

?? Talent flow and health

The interplay of foundational flow of talent and organizational talent health is defining the future race for talent. To channel the talent flow their way, organizations should focus on culture, total rewards and learning and development.

?? Total compensation means more

Pay remains a concern of employees, but employee concerns are more nuanced and comprehensive, meaning employers need a more holistic and personalized view of rewards programs.

?? GenAI and work technology

The accelerated rate of GenAI adoption has shown general positivity around new technology influencing productivity. The employers that have been most willing to adopt GenAI are also seeing generally healthier talent flow.

??Skills needs are shifting, requiring new sources and strategies

The half-life of skills is shortening, requiring organizations to rethink ways to fill them. While employers might prefer internal learning and development programs, they should also consider external up-skilling opportunities for employees who are more comfortable with third-party accreditation.

??Culture and workplaces

?? ???? ???????????????? ????????: This fascinating global research reveals that modern work is increasingly detached from traditional notions of careers, rewards, and workplaces. Researchers found that for organizations to succeed, they must focus on five critical dimensions: talent health and flow, work technology and generative AI, total rewards priorities, learning, skills and career pathways, and culture and workplaces. The future of talent will be defined by the dynamics of an untethered workforce.

??Thank you 安永 researchers team for sharing these insightful findings:

Roselyn Feinsod Kim Billeter Randall (Randy) Beck

Dave Ulrich

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