Staying Ahead of The Great Talent Migration
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The American workforce is changing rapidly thanks to job mobility, a still-tight labor market, and technological advances. You could say that this change has been in the works for years and the COVID-19 pandemic accelerated the shift toward location-independent work and remote work.
But the changes are not just logistical, the reveal deep changes in how American workers approach their career trajectories. A recent poll found that:
- 41% of employees are considering leaving their current employer this year and 46% say they’re likely to move because they can now work remotely.
- 53% of Americans would switch to an entirely new industry if they could retrain.
Whether you are an employer or a worker, what to make of these massive shifts? And how do you stay ahead of the curve. Read on for a round-up of our best tips.
What’s Driving the Great Talent Migration?
The following factors are major drivers of these changes:
- Desire for mobility: Recent surveys have amply demonstrated that American workers crave novelty and mobility. The pandemic has just accelerated those forces to the point where companies wanting to acquire top talent must adjust.
- Technological innovation: Years ago, bringing teams together across the world was cumbersome and awkward. These days a host of platforms and services make asynchronous communication, online meetings and interviews much more frictionless. With email, Slack, Zoom and instant messaging, it’s no wonder that workers want more flexibility to craft their working days.
- Tight labor market: While the labor market has been a wild ride over this past year and change, what hasn’t changed it that the competition to acquire and retain top talent remains challenging.
How Employers Can Stay Ahead of the Talent Migration
- Offer 100% remote work: One easy way for employers to harness the best talent is to develop a strategy that is 100% location-independent. WordPress is an excellent example of this, not only in terms of remote work policies but also in terms of creating an environment where independent-minded employees can do their best work.
- Consider non-monetary incentives: We’ve found in our surveys that while compensation is king, other factors influence workers desire to stay. Make sure that your considering policies such as sustainability and diversity and inclusion along with strong remote work policies.
- Invest in career development: Another area that’s important to employees, especially those focused on growth, is career development. Make sure that your employees know that there’s a light at the end of the tunnel and how they can access career development resources.
How Employees Can Stay Ahead of the Talent Migration
- Keep Your Skills Sharp: Know the skills that are most in demand and how they fit into your career planning. As we recover from pandemic-related shutdowns, companies will prize employees who are flexible and proactive. Now is always a good time to be planning ways of beefing up your skills.
- Ask for flexible policies: Remote work is increasingly a reality in top companies. For insights on how one company does it well, look no further than WordPress.
