“To improve is to change; to be perfect is to change often.” – Winston Churchill.
The above quote is worth its weight in gold when associated with the business landscape. Stiff competition, market congestion, transforming demands and changing market trends contribute significantly to the evolving dynamics at workplaces. It’s now imperative for companies to realign their approach towards recruitment and hiring process.
Post-pandemic era has seen rapid strides in digitalization with AI emerging as a behemoth tool for work processes. However a business can’t become successful by relying on AI alone. Smart companies are those who have recognised the enormous importance of being human centric in order to achieve success and sustainable growth. The so-called ‘Age of the Employee’ has truly arrived and scales have been largely tilted in favour of a talent-driven market.
Fiscal crisis circa 2008 along with adapting to the changes brought about by the pandemic has seen a paradigm shift in the mindset of people towards work. Today’s generation seeks more than just success and stability compared to earlier generations and is more inclined towards flexibility and value of work. They are more open to change and willing to evolve, thereby eyeing career prospects that merge seamlessly with this mindset.
Future of work, in line with current trends :
The modern workplace is a myriad arena where market trends continue to dynamically evolve as unpredictably as ever. Many recent trends are transforming it into an ecosystem which fosters inclusivity, innovation and adaptive capabilities. Therefore terms like employee engagement and employee experience have assumed paramount importance.
Hybrid Work Models and Flexibility –
The pandemic forced businesses to adapt to different models of working like remote work or hybrid work. With increasing emphasis on work-life balance, many employees have preferences regarding where and how they’d like to work. With choices like on-site, co-working places or work from home, employees and organisations are equipped with more work flexibility. Providing diverse work options help in accommodating varied preferences and life situations alike.
*59% of employees are more likely to choose an employer that offers remote work opportunities over one that doesn’t.
Digital Upskilling and Reskilling –
The unprecedented pace of digital advancements has revamped how industries function. By utilising technology like automation and artificial intelligence, they have made their integral presence felt. Thus the emphasis on the need to upskill and reskill has become peripheral in order to address the evolving skills gap. Bearing in mind the ever increasing demand for tech-savvy professionals, organisations are dedicatedly investing in training programs, thereby equipping employees with digital literacy, data analysis and superior problem-solving skills. This not only ensures a stable workforce pool for the future but also imbibes a culture of continuous learning, evolving and adapting to changing needs.
*91% of companies and 81% of employees mentioned upskilling and reskilling training has boosted productivity at work.
Rewards and Recognition –
Current workplace statistics shed light on the importance of rewarding employees for their contribution as employee recognition transforms into further positive outcomes for the organisation. Companies can set up formal or informal programs to appreciate and encourage their employees’ dedication and commitment towards work. This not only boosts their morale and confidence, but also increases employee retention rates and helps in building company culture.
*Employee engagement, productivity, and performance are 14% higher in organisations with recognition programs than those without them.
Emphasis on Employee Wellbeing and Mental Health –
In today’s competitive times, employees often feel stressed and excessive work demands can result in burnout. Hence it’s important to prioritise holistic wellness, physical and mental health to maintain an optimum work-life balance. This can be addressed by arranging various health programs, platforms to openly share and discuss their mental state, and consulting services. By doing so, productivity is enhanced and a feeling of care and empathy is instilled in employees.
Experts in HR report that employee burnout is responsible for up to 50% of the annual turnover.
Attraction and Retention of Talent –
“You don’t build a business, you build people, then people build the business.” – Zig Ziglar.
Talent attraction and retention has emerged as an utmost important factor in today’s cut-throat competitive market. Attracting and retaining top talents like CEO’S , Executives, CMO’S, etc, further accelerates a company’s quest towards success and growth. Therefore it’s significant to create an attractive employer brand, offer growth opportunities, and set up a work environment fostering camaraderie. This allows businesses to create a workforce capable of delivering sustainable and long term success amidst the market landscape that continues to dynamically evolve.
This is exactly where Scatalyst steps in. Our strategic recruitment approach ensures specialised recruitment assistance towards hiring highly skilled and top talents available. A vast network of talent pools assists you in finding a perfect fit for your organisation. By leveraging our cutting-edge platform and expertise we ensure you find the leaders you deserve.