Mercer released their Global Talent Trends 2022 Study that captures the inputs and insights from nearly 11,000 participants globally. Based on the study, Mercer discovered that progressive organisations are seeking to become more relatable by taking on the values and personalities of their talents and the communities they operate with and in.
Despite the positive messages about organisations returning “back to business”, 2022 continues to present organisation and operational challenges. Strained supply chains, geopolitical situations and risks, climate change linked to decarbonisation and ESG are just some of the big rocks organisations are navigating through. Speculation about inflation concerns and a possible economic recession is prompting executives to plan for scenarios where they can maintain direction or growth without sacrificing any more talent.
The rise of the relatable organisation
Mercer’s Global Talent Trends 2022 Study shares about the progressive organisations looking to focus on becoming more human. This, in turn, makes them more relatable.
According to nearly 11,000 participants in their study, many from organisations predicting high growth, those with a thriving workforce and those with innovation cultures share that they are “…rethinking processes, ways of working and digital investments that deliver on a
new vision for work, working and the workplace — a vision that unlocks potential through values, partnership, wellness, agility and energy.”
Over 55% of participants indicated that talent attraction and retention are top of mind for executives, with 66% facing a labour shortage crisis.
HR executives (within the participant group) agree. Based on their responses, the HR function’s key priority is to “improve workforce planning to inform buy/build/borrow talent strategies”. Three of the top 5 HR priorities also revolve around reward strategies and indicate a stronger focus on these areas compared to previous years.
What are employees saying about what helps them thrive?
Over the pandemic period, employees have dealt with uncertainty, and the worry that both personal and professional lives will never be the same as before.
Surprisingly, according to the study, 63% globally say they are thriving in their current role. When the study dived into the reasons, they found that “feeling valued for their contributions” and “doing fulfilling work” are key to helping talent in organisations thrive.
Specifically in Asia, “opportunities to develop new skills”, “clear leadership” and “having fun at work” are also key drivers for talent.
So, what is a relatable organisation and how will being one help my organisation succeed?
As shared earlier, a relatable organisation has a focus on being more human, by taking on the values of their talents and communities and therefore more relatable.
According to the study, relatable organisations “…are expected to have a heart, to come off mute on what they stand for, and to make measurable progress against goals relevant to all stakeholders.” These goals range from ESG to diversity, equity and inclusion (DEI) and also to help shape the new work compact between employer and employee.
How do we go about implementing a relatable organisation?
The Mercer Study points out a few success drivers to do so. These include:
Resetting for stakeholder relevance, building adaptive capability in their people and processes
Figuring out how to work in partnership and tackle inequalities
Driving outcomes on employee health and total well-being
Harnessing energy for the collective good
For example, under the “Incentivising/Build for Employability” driver, Mercer suggests auditing the organisation to understand the readiness and current advantages associated with becoming a skills-based organisation; and suggests developing a pay-for-skills approach aligned with the organisations future needs. This requires retaining and transferring knowledge from experienced workers to mitigate talent loss as well as building the infrastructure and culture to support talent movement.
Another example, related to the “Harnessing energy for the collective good” driver, is to build a relatable People function by designing a roadmap for HR service delivery, breaking down institutional silos in organisations and within HR and consider where centres of competence might complement your centres of excellence.
To access the full report, you can visit the Mercer Global Talent Trends 2022 Study at this link.
Image Credit: Mercer Global Talent Trends 2022 Study
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