Talent Scarcity – Trend 1 of 7 in Future of Work by Korn Ferry
Korn Ferry’s recently released Future of Work report highlights how attitudes have shifted from “me” to “we” in organizations, focusing now on mutual growth.
Trend 1 of 7 dominating corporate trends of 2022 was identified and agreed upon by participants as the ‘scarcity of talent’.
Warning organizations about the looming talent shortage nearly three years prior, Korn Ferry surveys also found:
62% organizations agreed -they have never faced a shortage like this before
75% agreed – talent shortage today will limit their growth
Premier BPO Insight:
To overcome the talent pool shortage, organizations should plan for the crisis:
Put elaborate employee retention policies in place:
measure employee wellness and happiness
address their pain points
make them feel valued, content, and taken care of
Companies should identify the key roles where they face difficulty in hiring and put a training plan in place. Facing scarcity of talent, companies should be enabled to build internal talent to survive.
The KF study also identified how to turn the Great Resignation into the Great Retention and the
5 things that employees want today from any organization:
Confidence in the company they work for
Growth opportunities in the same organization
Being valued, getting rewards and recognition for efforts
Inclusion in work decisions
A collaborative and creative environment
Keep visiting our trends page for more updates on the other six Korn Ferry work trends with our exclusive insights.
PS: Premier BPO can help backfill roles from our global pool if you are facing scarcity domestically.