Workforce challenges limit the ability of leaders to achieve Business goals

??Many leaders today feel confident about the future but...

Workforce challenges will limit ability of Leaders to achieve business goals in the next year. Internal mobility, for one, is on the rise. The majority of executives believed that internal recruitment has increased due to the effects of the pandemic and therefore could be a magic solution against the labor shortage, according to a new interesting research published by Ceridian in partnership with Hanover Research using data from an online survey of 2,020 leaders who are director level or higher in their organizations, across 6 countries and work for companies with 1,000 or more employees.

??Researchers noticed also that majority of leaders said:

• internal mobility has increased in their organization because of pandemic effects
• Their organization uses skills-based hiring often or very often
• Their organization uses contingent workers
• reported AI use in their organization to replace repetitive tasks

?Workforce Challenges threaten Business goals

Researchers found that nearly all leaders (92%) saying workforce challenges will limit their ability to achieve business goals in the next year.

Some of these workforce challenges are listed below:

??Employee Engagement and retention

??Labor and Skills shortages

??Increasing compliance and regulatory complexity

??Rising labor costs

??Employee Burnout

??Outdated Technology

?? When researchers compared their results with previous research from 3 years ago now, the same challenges were there and some even made progress.

?Internal Mobility a solution against Labor Shortages

Researchers noticed that Promotions land as the top of the list of internal career opportunities which are offered within all organization.

Researchers noticed that Promotions increases to 60% in US and 52% in the UK, but leaders in those countries also report more robust internal opportunities.

?? Researchers noticed that leaders are largely stuck on the upward movement of employees, suggesting that the increased internal mobility they reported is not supporting their need to move faster and develop talent in new ways.

?Skills deficit is real List of !

Researchers noticed that majority of Leaders said their organization is currently lacking at least one skill type.

The top skills leaders reported as deficient are:

1?? Specialized technical skills (42%)

2?? Industry-specific skills (42%)

3??Creative skills (39%)

Researchers noticed that there is regional differences for skills gap.

in Canada, creative skills take the top spot while US respondents said industry-specific skills are most lacking.

This could stem from differing availability of training and education across regions, or even cultural differences in the skills and work people choose to pursue.

?? Researchers highlight that skills often take time to build, so organizations must think a few years ahead and build up-and re-skilling strategies now for the future.

?? Finally researchers recommend below actions to organizations to get

started optimizing today’s boundless workforce for future success:

1?? Simplify internal mobility

• Enable recruiters to identify internal talent for open roles more easily and quickly, based on available skills and employee interests, with the help of technology.
• Ensure employees understand the career advancement options your organization offers and that it doesn’t have to involve climbing the corporate ladder.
• Empower your people through personalized user experiences that allow them to build meaningful career paths so they don't look elsewhere for growth.

2?? Make learning and development strategic

• Unlock your people’s potential with continuous, broad, and personalized opportunities for learning and development.
• Provide an actionable plan for employees to stay current with their skills and develop new skills in lockstep with shifting market demands.
• Help employees build skills in a range of directions so they are prepared to fill vacancies across a variety of roles.

3?? Optimize use of contingent workers

• Ensure contingent workers are part of a broader extended workforce talent strategy for greater value.
• Use a talent marketplace to more easily find and onboard contingent workers with the skills your organization needs.
• Attract better talent by offering on-demand pay, giving workers the option to get paid after every shift.

4?? Drive sustained ROI

• Adopt technologies that can scale with your business to attain quantifiable value in an uncertain and rapidly changing world.
• Invest in a workforce platform that leverages AI to streamline recruitment, identify challenges, and surface opportunities to employees around career growth, upskilling, and reskilling.
• Implement an all-in-one system that allows you to leverage a global HR ecosystem, providing visibility and insights into your full-time, part-time, and extended workforce.

Thank you ?? Ceridian researchers team for these insightful findings:

Susan Tohyama Leagh Turner David Ossip

Dave Ulrich ?George Kemish LLM MCMI MIC MIoL

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