![]() ![]() ![]() While layoffs certainly help you cut costs quickly, they can also: However, mass layoffs aren't necessarily the best way to proceed in an economic downturn. Big tech has already let employees go in their thousands, from Google to Meta, so you can imagine the cascading effect in the coming months as many companies look to cut costs. Since we’re likely heading toward an economic downturn in 2023, many companies are already considering - or have started - with layoffs. This is crucial for navigating challenging economic times and continuing to attract and retain talent in the long run. While some accommodations may seem hard to justify, such as flexible work arrangements, embracing this kind of change is essential for building a culture of company-wide resiliency. Seek to include candidates that can do the job you’re asking of them well rather than focusing only on those with the longest resume or portfolio. Training resources: In a world where there’s always new tech waiting around the corner to make some skills less useful than others, such as AI chatbots like ChatGPT, workers want access to training programs and mentorship opportunities to keep up with the changing tides.īy shifting your priorities and dispensing with rigid hiring criteria that rules out all but the most qualified and experienced, you can cast a wider net and source fresh, untested talent. ![]() For example, you could offer free access to mindfulness apps, health and fitness video sessions, or eLearning programs. Whereas it used to be free coffee and snacks at the office, if you have a virtual work environment, you need to innovate. Perks and programs: In 2023, the concept of perks has evolved.Work schedule flexibility: Given the discovery of remote work for many during the pandemic, the rising popularity of many alternate work models leading to the highest productivity levels, and the resounding success of the 2022 four day work week carried out by 4 Day Week Global it’s safe to say that few people are enamored with the 9-5 in 2023. ![]() These days, many candidates in the job market are looking out for other factors in the job description, such as: In the past, you could bank on finding candidates that were incentivized by a healthy salary and the job security of a long-term role. While it may seem like a given that people will want to work for your company if you’ve enjoyed success, the modern work climate has shifted priorities for many. Rather than focusing on what value top talent can bring to your company, flip the script and uncover your unique value propositions that can interest and entice talent. When talent seems incredibly hard to lock down, a change of tact is often the best way to change your fortune. Plus, you’ve created a streamlined route to career progression for new and existing employees alike, which could increase engagement levels. That way, you’ve saved money and nurtured existing talent into a new role. Once you’ve identified the talent, you can ease them into the role and create an upskilling or mentorship program to get them up to speed with everything involved in the job. Remember, we’re not looking for a perfect match - because it’s rarely the case that you’ll have the ideal candidate internally every time. A great way to do this is to use remote work time tracking software, as you can draw upon time data that has been automatically collected and consolidated into easy-to-digest reports.įrom here, the idea is that whenever a job becomes available, you would scan through your employee performance tracking system data and find employees who have the base skills to perform the roles and responsibilities. Start with a skills audit based on performance data you’ve collected on your workforce and build out a clear picture of where each employee’s strengths and weaknesses lie. To create a talent management strategy that stands the test of time, you have to be proactive and flexible in your thinking. Work with what you have rather than trying to horseshoe an employee into a role that isn’t a great fit for them. The key to a healthier talent management strategy is to accept this and refrain from trying to fit square pegs in round holes. Online chat and video support in English,French,and Spanishīefore you put together your strategy for bringing in fresh talent, it’s worth taking a look within to see how you can improve your internal talent management.Įven with top talent on your books, the chances are that you won’t be able to find employees whose skill sets perfectly align with every available job. Basic plan:$30 for 5 users+$5 per additional user ![]()
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