Never before have living conditions and value systems — and, ultimately, the world of work — changed so radically or so quickly as over the past two years. These circumstances are giving rise to meta-trends: existing trends have accelerated and taken on a new sense of urgency. A global ManpowerGroup study explains what this means for workers and what employers need to adapt to.
The trends currently shaping the labour market are not new. What is new is the urgency of addressing them in this period of recovery. Demand for skilled labour is high, while unemployment is low. At the same time, many workers are looking for more “meaningful” jobs and employers that share their values. If companies want to attract and retain workers on a lasting basis, they therefore need to urgently examine how they manage their workforce.
ManpowerGroup’s international study summarises the main changes into four trends, each further divided into several sub-trends. (You can read the full study here).
The main findings from the four broad trends are as follows:
Workers want employers to take better care of them. What they want most is independence and flexibility:
• 40% of employees would like to be able to set their own working hours.
• 35% of employees would like the freedom to work remotely at any time.
They are also asking for a better quality of life, protection of their health and personal balance – 36% of employees would welcome more days off for this reason. And nearly one in four employees would prefer an employer that offers benefits such as parental leave or leave for family carers.
A sign that well-being has become crucial, nearly one in two workers (49%) would be willing to change company in order to improve their well-being.
69% of the companies surveyed say they are unable to find the profiles they need. To fill vacancies, they must reinvent themselves in order to attract talent, develop skills and secure long-term retention. There are several strategies for doing so:
• More than 30% of employers plan to offer higher salaries.
• More than 30% of employers already provide diversity and inclusion training (one in five companies plans to introduce it within the next six months.)
In a globalised and increasingly competitive market, companies must be agile to remain competitive. This means taking into account society’s expectations, such as the demand for stronger commitment to environmental and social issues. Companies are responding accordingly:
• 6 in 10 companies have decided to include ESG indicators in their charter.
• 2 out of 3 say they attach great importance to ESG criteria
The values-driven agenda accompanying this shift is also having a positive impact
on talent attraction and retention. Employees are increasingly demanding “empathetic” action and expect CEOs to lead the way.
More than 80% of employers accelerated their digital transformation in response to the Covid-19 crisis, and not only to give their employees greater comfort through hybrid working models that are also more environmentally friendly.
They are now also using technology to serve their employees, in order to predict each individual’s potential performance and thus offer tailored development opportunities. One company in three therefore plans to invest more in AI, including Machine Learning, over the next 12 months.
“Great Realisation” – the recognition that the pandemic has had a lasting impact on the
world of work. 5,043 employees in five countries (the United Kingdom, the United States, France, Australia and Italy) were surveyed and identified 20 key trends in the labour market, grouped into the following areas: What Workers Want, Talent Scarcity, Tech Accelerates and Companies Reset.
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