With acute talent shortages continuing to rise across the UK, employers are challenged with catering to the demands of an increasingly limited talent pool while competing with other organisations that are trying to do the same. To be successful, organisations must build what workers want into the heart of their talent strategy, deploying faster, more targeted approaches than ever before. Upskilling and retraining individuals throughout their career is also crucial to meeting future talent needs.
By getting both the offer to candidates and the blend of talent strategies right from the start, businesses will not only make their organisation more attractive to prospective employees, but also help to retain existing employees. Getting it right up front will help to drive return on investment for the long term.
2. 2What Workers Want 2019
Workforce Trends
We are in the midst of a Skills Revolution where technology is transforming organisations and skills needs are
changing rapidly, accelerating a global talent shortage and threatening productivity, sustainability and growth.
By 2022, 54% of all employees will require
significant re- and upskilling. Of these, about
35% are expected to require additional training
of up to six months, 9% will require reskilling
lasting six to 12 months, while 10% will require
additional skills training of more than a year.
WEF: 2018 Future of Jobs Report
While 38% of organisations
say it is difficult to train
in-demand technical skills,
43% said it is even harder
to teach the soft skills.
2019 Humans Wanted:
Robots Need You Report
“54% of employers
say they can’t find the
skills they need.
2019 Talent Shortage Survey
4. 4What Workers Want 2019
Today’s Workforce Challenges
Determining the right
workforce strategy
Competing in the digital age
Upskilling individuals
and workforces
Attracting
and
retaining
talent
Finding
the right
talent
Leading through digital
transformation
5. 5What Workers Want 2019
UK Talent Shortages (2009 – 2019)
UK Talent Shortages at a 10-Year High
*Data collected in Q4 2017
6. 6What Workers Want 2019
Difficulty Filling Roles by Company Size
Large Companies Face Almost Double the Difficulty
8. 8What Workers Want 2019
What Workers Want varies by age, gender and geography. More Pay, Flexibility and Challenging Work are non-negotiables to
all. Other priorities depend on where people are in their career life cycle and work as additional levers that employers can pull
to attract and retain in-demand talent and under-represented groups. For example:
What Workers Want: A Generational Perspective
Millennials Gen Z Gen Xers Baby Boomers
Know they have career
ultramarathons ahead of them
Ambitious, hungry for cash
and career development
Know that flexibility = wellbeing Prioritise challenging work in
their top needs
9. 9What Workers Want 2019
Hierarchy of Needs
1. Pay always matters
Pay is the top attraction and retention factor for all workers under 65 years old,
regardless of gender.
2. Personalized career insight, driven from data and assessment
81% of workers who have been assessed report higher job satisfaction.
3. Challenging work in the form of education, experience and exposure
People want challenging work, to develop skills and further careers. Challenge ranks
among the top 5 priorities for workers of all ages, genders and geographies.
4. Flexibility and control over calendar is a must and contributes to
worker wellbeing
Flexibility ranks in the top 5 priorities for workers of all ages, genders and
geographies, it's the 2nd most important attraction factor for workers aged 25-44.
5. Purpose is a must - workers want to take pride in what they do
and who they work for
Purpose, brand and reputation rank in top 10 attraction factors for all workers.
Top Worker Needs
10. 10What Workers Want 2019
Address What Workers Want: Take 5 Actions
Get creative about compensation
Pay matters but so do other elements of
compensation, help to meet individual
needs wherever they are in their career
journey.
Assess for fit and potential
Provide people with the insight they need
to thrive, and you’ll end up with more
motivated and satisfied workers.
Build a Culture of Learnability
Provide workers with the challenge they
crave and the support they need to grow
and succeed.
Create flexibility that allows One Life
Wherever people are in their career
life cycle – it drives wellbeing and
productivity too.
Be more than transparent about your Why
Be explicit and authentic about the purpose and
meaning in your company’s mission and ensure
leaders live it.