Turning the Tide of the Talent Tsunami

The great resignation is upon us but will the wave crash into our organisations or can we try to ride it and bring our people on our hybrid journey.

The BTN partnered with Gloat, the first-ever Internal Talent Marketplace, for an exclusive virtual round table with executive people from some of the World’s most innovative organisations.

"Over 40% of the global workforce is considering leaving their employer this year and 46% are planning to move now that they can work remotely" (Microsoft Work Trend Index, Mar 22 2021), a stat that puts into perspective the challenge and opportunity that organisations are now facing.
Employees are in demand and they have a new demand of their own, a defined career path. No longer is this described as a labour shortage, it’s a great re-assessment of work!

The conversation was chaired by Jeff Schwartz (VP of Insights & Impact at Gloat, Founder of Deloitte's Future of Work Practice) and brought about the following takeaways:

 

 

The return to the simplicity of things

Our people have started to think about what their basic values are in their life with regard to health, wellbeing etc.
We have started to understand more the basic building blocks around the quality of life and how we want to spend our time. Values are so important for individuals, what is important to each individual? Is a 10-minute commute important?
Employees now want to know what their contribution is to the work and what their purpose in work is. People want to own their own development and their own careers and want alignment with the company and employees having common values. How do we have career conversations with our employees and build an individual planning workbook? If we can get our employees to embed a culture of self-awareness, they will start to understand themselves which can help to facilitate conversations with managers to allow for career planning.
There were some fantastic initiatives being rolled out across the group around being ‘the CEO of your career’ and aligning career frameworks with reward frameworks to create different career tracks.

 

Nurturing growth internally will help facilitate our skills and mobility journey

Is it easier to look and apply for a new role externally or internally? We should be looking at how we can be clear and transparent on where/how to access the tools to develop internally. Our technology tools should be easy to use, accessible and provide employees with the ability to grow in their current role and the organisation as a whole. Can we create master job profiles and align these with our competencies and skills internally? Can we create job roles that only allow internal candidates and motivate them to move internally through a bonus scheme?
We would probably all agree that we have good people and they need to be seen and shown that we’d rather keep a good person than lose them to the competition. Are we striking the right balance between what we expect our managers to do vs what we are giving our employees to do to make their next move?
The conversation moves onto the role of the internal marketplace and where Artificial Intelligence is.
One of the attendees highlighted to need to showcase not just the job for employees but the opportunity to find secondments, transitions, learnings and opportunities. If employees don’t have an amount of time dedicated to their learning then they will lose interest. Our technology should enable 1 click access to ensure they can create an effective career framework. We must get the fundamentals correct before we try to do the advanced notions!
The more transparency we create for our employees, the more knowledge our employees will have and as a result, the more questions people will ask about the potential to move internally or progress in their careers.

 

Inclusion's number 1 priority should be leadership

We should be building inclusive leadership first and foremost and embedding emotional intelligence within our leaders. Our organisation should mirror the customer base that we have and use inclusive people practices, inclusive careers and inclusive talent as our step-change plan.
As we go through our inclusion journeys, we should be looking at talent in emerging markets and trying to align our requirements with trends.
Our focus should always be on the end goals of what we want to achieve but having stretch targets for gender and ethnicity representation in specific regions, especially at the leadership level, can really help develop forward movement.

 

Reskilling is today not tomorrow. Having a learning organisation means not everything is going to be perfectly delivered as people will make mistakes but we must communicate that this is fine.

If we can understand what our employees are looking for, we can create attractive organisations. Give them freedom, share the story and facilitate growth.

 

About Gloat

Gloat pioneered the Talent Marketplace category with the first AI-powered Talent Marketplace platform, built to break down the silos holding organizations back and enabling them to shift talent freely, empower employees and adapt on the fly. Using an industry-leading AI, Gloat matches employees with internal opportunities by autonomously aligning skills, capabilities and aspirations with the needs of the business. As a result, managers gain frictionless access to untapped talent at speed. While employees gain access to meaningful development opportunities and experiences including projects, gigs, full-time roles, mentorships, job swaps, learning experiences, and much more. The real-time data generated by the platform, meanwhile, provides leaders with immediate visibility into the skills and availability of the workforce so they can plan and future-proof the business. Gloat pioneered the Talent Marketplace category and is trusted by some of the world’s leading global enterprises today, with deployments in over 120 countries across Unilever, Schneider Electric, Standard Chartered Bank, PepsiCo, Nestlé, HSBC, Novartis, and many more.

www.gloat.com