Remaining competitive in the continued battle for the best talent

Locating talent in your existing and future workforce

The pandemic has accelerated a change in labour market dynamics. Companies are having to flex and adjust to keep up.

In a PwC survey in June 2021, almost 90% of executives said their company was experiencing higher turnover than normal. While the acceleration of working from home (WFH) has exposed a larger talent pool, companies have had to rethink operation and management strategies. According to research from Bullhorn, for 30% of global recruitment industry professionals, ‘sourcing’ continues to be the most challenging aspect of the process.

It is likely that skills development and the flexibility to hire overseas, where necessary, will become increasingly important. Through access to a global talent pool, teams and workplaces have become more distributed. Although technology enables some employees to work without geographical restrictions, there are legal implications to be considered.

Taylor Osborne (TO) have benchmarked employment considerations and legislation across different geographies to assist our clients with their hiring strategy and provide insight into external candidates. The regulatory environment is challenging in some locations. Those who work remotely from a foreign country may be bound by the local employment rights in the host country because they are working from that location.

We’ve also seen a changed attitude to employee and employer branding. The employer, customer and corporate brand are starting to unify into one. Our clients have discovered that they must encourage their employees to interact on their platforms. By building a strong brand and identity, a company can improve its ability to acquire and retain the best talent.

When TO explored the question “what does recruitment look like in 10 years’ time?”, workforce planning, diversity, candidate experience and a shift in priorities were dominant themes. To succeed long-term, it's essential to attract and retain talented employees regardless of vacant roles. Career development and wellbeing have been cited as important factors for retention. It has become ever more critical for companies look internally to capitalise on opportunities and future trends and to negate potential threats to human capital as a result of continued volatility.