Since the pandemic lockdown, there has been no shortage of people trying to foresee workforce trends and challenges. Organizations “pivoted” during the pandemic, they survived the “great resignation”, they adjusted salary scales to help their teams meet inflation challenges, and all of us continue to work toward more equitable and inclusive workplaces and communities.
While the acute problems mentioned are starting to balance, there are still challenges to proactively address. So, join me as I look into my crystal ball and read the tea leaves.
Key Workforce and Talent Challenges for 2024
Competition for Talent
As job markets expand to be more national or even global (with the ability to work remotely), organizations will face heightened competition for talent, particularly in specialized fields or niches. A holistic talent strategy will be more important than ever!
Retention and Employee Engagement
In a competitive market, retaining top talent and keeping employees engaged and motivated will continue to be at the forefront of what allows growing organizations to gain traction. This includes strategic succession planning as key leaders retire or career interests change, and understanding the workplace expectations of the up-and-coming workforce and adapting accordingly.
Skills Gap
The rapid pace of tech advancement could exacerbate the existing skills gap, making it challenging for companies to find candidates with the skills required for newly emerging roles. Technology may also require those with previously in-demand skills to reskill.
Diversity and Inclusion
This remains a priority for organizations that understand the strength of diverse perspectives and combatting blind spots. Creating an inclusive recruiting and hiring process is not only the key to expanding your talent options but is also a key component to an inclusive workplace culture that allows your teams to be more themselves at work, giving them more capacity to be present and focused.
Remote and Flex Work Challenges
While WFH has become more prevalent, we’re still learning how to best manage dispersed teams, ensure effective communication and collaboration, and keep our teams engaged and connected in dynamic ways. These challenges also include continuing to evolve your vetting and hiring process to be effective remotely.
Automation and AI
While automation and AI can streamline certain aspects of the recruiting process, they may also introduce challenges related to bias, privacy concerns, and they should not be used to replace human interaction and connection.
Other Things Top Talent Will be Paying Attention To
- How the candidate experience reflects their culture and the speed of decision-making and feedback.
- If environmental and social responsibility is a part of the organization’s priorities.
- Are there opportunities for continuous learning and investment in continued education.
So, how do we address ALL of this?
Here are Some Key Talent Acquisition Trends for 2024
Data-Driven Recruitment
Diversity and Inclusion Initiatives
Employer Branding and Storytelling
Delivering World-class Candidate Experiences
Effective and connected remote vetting and onboarding/orientation processes
Continuing Education: Educational partnerships, certification/licensing support, upskilling or reskilling initiatives, professional or leadership development investments, clear career paths, and strategic succession planning
Employee and Community Well-being Initiatives
The Talent Store is here to help you navigate all of this, one step at a time, and in line with your brand and what you want to achieve.
Learn more about our Talent Strategy Advising Services