The marketplace of our time is driven by uncertainties that impact the world of work and the value proposition of employers. It is clear that Ireland will see an upswing in new hires from 2021, which is very pronounced in the tech and retail worlds, leading to higher employee turnover between companies. Companies of all sizes are expected to be more proactive than ever in dealing with the potential consequences of this uncertainty. In other words, managing today's challenges and addressing what talents are looking for in a company today will be more important than ever to remain competitive in 2022.
Speaking at the 2022 Employer Branding Summit, employer branding expert, Richard Mosley was the first to write a book on employer branding in 2015. He has led some of the largest employer branding projects in the world, such as that of Coca Cola, Gucci, L'Oréal, UN, etc. He is also co-author of the book "Employer Branding for Dummies".
Richard Mosley presented us with the talent trends and uncertainties for 2022, specifically remote working, its implications, its outcomes and the key elements to focus on to remain competitive during the great reshuffle of our time, supported by the first drawing of the Universe Talent Study in Ireland. A sample of 10,000 students and 11,000 professionals was be surveyed from September 2020 to August 2021.
Remote working and its higher level of interest
In 2021, Ireland recorded its highest level of employment ever in Q3. Given the surge in hiring, it's no surprise to HR managers and other stakeholders that we are facing a major upheaval with clear differences between what companies are offering and what remote work can do.
According to Richard Mosley, 55% of professionals in Ireland across all sectors of working are considering a change of employer. So turnover among job applicants is high and competition for talent is fierce. Interest and openness to telecommuting are very high among talent in the technical field. Most students and professionals are interested in remote work opportunities in Ireland. In fact, Ireland ranks higher compared to the European average.
With the restrictions being lifted and some organisations wanting their employees to come back to the office, the latter will accelerate employees departures.
Remote working becoming essential for Employer Value propositions
According to Manpower Hiring Outlook, 55% of key positions plan to adopt a hybrid work model in 2022. In the pre-Covid era, 36% of companies allowed work from home at least some days per week. In the post-Covid period, that number has increased to 51 percentage points.
Most companies opt for a hybrid work model, using the Tuesday, Wednesday and Thursday, hybrid working model.
According to Patrick Gallen of the Irish News, "Using the hybrid model is no longer a choice, it's a business necessity. The hybrid model is slowly but surely becoming the new normal... But the results of a revolution remain uncertain."
Due to increasing interest, remote work offerings are becoming the new norm. In fact, 92% believe that offering some level of work-from-home has become a critical factor in attracting and retaining talent.
Companies have concluded that the overall effect of working from home during the pandemic has been positive, particularly in terms of environmental impact, but also in terms of productivity. Nevertheless, the outcomes for work-life balance,well-being, employee engagement, and social bonding are highly uncertain.
In fact, research has shown that this impacts employee engagement, retention and happiness. In other words, social ties and connections with employees weaken, making it easier for people to leave, which increases applicant turnover.
In addition, research suggests that people are working longer hours than they did before remote work. According to the Financial Times, people are working an average of 1-2 hours more per day.
Employees are working longer hours and at higher intensities, resulting in significant strain and stress.
U.S. research indicates that a very large proportion of remote workers have suffered from physical health problems in the past year for the first time. In other words, our sedentary life is affecting our physical health along with our mental health already affected by the isolated working settings.
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Your Employer Value Proposition (EVP) is now more important than ever
It is clear that the market is becoming increasingly candidate-driven, followed by a significant increase in hybrid work models that are impacting the overall labour market and the negotiating position of candidates. To remain competitive in the future, it's more important than ever to strengthen your value proposition as an employer and address telecommuting outcomes and other factors.
Given the marketplace and the major restructuring underway, sharpening and strengthening your overall employer value proposition is essential. Aligning your company culture and ensuring your initiatives provide clarity on how remote work works. Finally, focus onwellness, inclusion and belonging and address these needs in your EVP as health becomes an increasingly important candidate requirement.
* Watch Richard Mosley presentation from 7:30 min.
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