In most major economies, the number of open jobs still outnumbers the unemployed, but that could change quickly. As layoffs have hit several industries, persistent inflation pushed more people to seek better job security.
Companies must make relevant policy adjustments to have a balanced talent management strategy. Hence, TG Group has compiled 3 Ways for Businesses to Benefit From the Great Rebalancing:
Adopt a Skills-First Hiring Approach
Companies should prioritise skills when recruiting to access the global talent pool and bolster their workforce. A skilled international workforce consisting of teams based in various parts of the world can help reduce geopolitical risks.
Moreover, your organisation can gain insight into the skills required now and in the future. Providing employees with “skills transparency” in real-time will create a unified approach to skills and talent management, allowing you to plan upskilling initiatives and identify any skills gaps.
Leverage HR data to Improve Employee Experience
A more stable job market creates a better opportunity for employers to improve the employee experience (EX). The HR department should use predictive and prescriptive analytics software to analyse employee feedback. They then sift through the large amounts of data to gain insights into their employees.
With the analysed data, HR works with other departments to take proactive steps in talent development and retention, create a better working environment and increase employee satisfaction.
Work with an External HR Partner
More and more companies, including small and medium-sized enterprises (SMEs), are partnering with HR service providers as a solution to their limited resources.
Outsourcing HR processes enables SMEs to receive high-quality support, ranging from payroll to international recruitment. It also allows them to free up resources to focus more on optimising operations and planning strategies for business growth.
Does your organisation need help to gain more time to focus on business growth?
With a proven track record of solving diverse workforce issues, TG is here to unload your company’s administrative HR burdens.
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