It’s perhaps an understatement to say that HR, talent acquisition and people management teams have faced a wealth of evolving challenges that aren’t letting up. Professionals are having to navigate global economic volatility alongside evolving candidate expectations, skills shortages, new working models, and multi-generational workforces. And few have seen talent budgets increase in line with these growing challenges.
So, while people experts are being asked to do more with less, knowledge sharing and insights into best practice are becoming increasingly valuable in the HR community. To achieve that purpose, I brought together several TA leaders to share their honest insights and best practice advice.
Here’s what they feel will be the biggest opportunities and challenges for talent acquisition and management for the rest of this year.
Fractional models of employment will be normalised
How people are employed and resources are engaged has evolved significantly to become far more flexible, nuanced and individualised than it has ever been. You’d be hard-pressed to find an HR team that hasn’t adopted contingent, contract or SOW (Statement of Work) hiring models at some point.
However, a new trend that will not only impact how HR and TA engage resources, but also operate themselves, is the emergence of fractional models. The growth of the gig economy, rise of mid-life career changes and the increase in project demands have made fractional careers more viable. People can – and now want – the ability to work across multiple roles and projects simultaneously.
In reality, it’s unlikely that this will succeed all other workforce employment or engagement models, but it will certainly change the demand from HR and talent teams. The future of work will likely be defined by blended models, with the fractional approach leading the way.
In this environment, managing workforce requirements based on output rather than presence becomes essential, and talent teams will need to regularly assess whether they not only have people with the right skills, but also the capacity and mindset to learn and adapt.
The Great Resignation 2.0 isn’t far off
There was an interesting consensus with the talent leaders involved in our study into the future of TA, namely that there will undoubtedly be another Great Resignation. Talent trends are cyclical, though the cycle has become faster-paced and the impacts more acutely felt. As such, we are likely to reach a tipping point where a return to stability economically will drive another mass movement of skills in the workforce.
Read the full article here.
The future for TA looks uncertain and nuanced, but for those able to capitalise on the opportunities, there’s significant potential.