The first day of the Executive Forum hosted by Staffing Industry Analysts covered some familiar topics, but with a more progressive look at the “so what” and “what next.”

What Talent Shortage?

The day started and ended with a focus on what has now been upgraded by one speaker from a “Talent Shortage” to a “Talent Crisis.”

Familiar statistics were shared regarding to people leaving their roles - 3.9 million in December 2021 in the US alone – but there was also more insight into the stories behind these figures. For example, last year there were 2.4 million “excess” retirements – people who may never return to the workforce.

However, it was also suggested that in fact there is not a talent shortage at all…It is just in the “wrong” place. This was backed by statistics showing that while 55% of the demand for IT skills is in the Americas, over half of the available skills are based in APAC.

So, what are the answers?

Discussions centred on the “global” workforce, but also on the “requirement for upskilling and reskilling” and the staffing industry’s potential roles in this. After all, ‘if not us, then who?”

But, as with many challenges facing the staffing industry, it may not be that simple, with one IT leader admitting upskilling projects were “not as successful as he would have liked”.

Flexible work

Another familiar topic was the move to flexible working, supported by some unsurprising statistics, including that 62 percent of workers value the ability work remotely as “very important.” However, there were some new additions to the story line, with 31 percent willing to “consider a pay cut in order to work remotely”.

The challenge and opportunity for both employers and the staffing industry is to acknowledge that skilled professionals have now adopted “the mindset of a consumer” when choosing “when where and how they want to work.””. Organisations will require a fully developed and communicated value proposition of not only the “what” of a role, but also the “why” when engaging talent.

With differing demographics embracing the “return to the office” with varying degrees of enthusiasm, there was also a word of caution. We must reward Performance over Presenteeism.  If we allow flexible working, we must also recognise the value each employer provides - whether physically visible or not.

Technology does not eliminate jobs

No staffing forum would be complete without discussion on the effect of technology, both on the industry itself and the organisations it serves.

The “technology doesn’t eliminate jobs” quote was heard more than once and while I don’t believe this is strictly accurate, the truth is, it both eliminates and creates, possibly in equal measure but in different areas.

Following the Talent Crisis theme - this results in new jobs being created, but a lack of appropriately skilled talent to fulfil that demand.

Within the staffing industry itself, the majority agreed that technology, specifically AI, wouldn’t fully replace the recruiter. However, we need technology to absorb the burden of repetitive or time-consuming tasks to allow people to focus on the higher value interactions – those that require creativity, problem-solving and communication, that cannot currently be automated.

Following the Talent Crisis theme, this results in new jobs being created, but a lack of appropriately skilled talent to fulfil that demand.

Technology is also affecting how we interact with our customers, with numerous new platforms available. Although, one speaker colourfully warned that “If you have too many of them (platforms) it leads to Frankenstein’s monster of epic proportions.”

The adoption of platforms has been quicker for the candidates, or service providers, who have already moved to, what one commentator called, the “future future,”, with their prospective employers lagging in adoption in the here and now.

It was also acknowledged that there may not be a built-in preference for serviced or self-service, but that what people really desire is the benefit of the output, however that is best delivered.

The same but different

All in all, some familiar topics but a universal recognition that the world of work has changed, probably forever. I’m looking forward to the next few days of the Forum, as we consider, how we rise to these challenges and take advantage of the opportunities that lie ahead.

AUTHOR

Robert Moffat
Senior Vice President – Global Head of Solutions and Americas Head of Sales, Solutions and Marketing, Hays Talent Solutions
With a 25 year track record of designing, implementing and managing talent services Robert has a wealth of knowledge on the challenges and opportunities facing employers in maintaining a competitive advantage in talent acquisition, engagement and retention.

As Global Head of Solutions Robert is part of the global leadership team responsible for innovation and product development and as Head of Sales, Solutions and Marketing for the Americas he is responsible for growth of the region. Having lived and worked for Hays in Europe, Asia Pacific and the Americas he is able to bring a diverse range of thought and experience to the new challenges in the world or work.

He has a passion for new ideas, markets and opportunities and has been instrumental in a number of Hays’ recent global projects including the roll out of a Global Operating Method, Supplier Engagement Strategy, the evolution of our direct sourcing approach and a quick deploy RPO service for start-up and high growth companies.