In the race to attract and retain top talent, competition is tougher than ever. Talent pools have shrunk. Your teams are fatigued from change, and have to make do with the limited tools and systems available to them. How can HR leaders like you help them stop making do and start doing more to build a skills-first future?
HR leaders everywhere are facing a number of challenges this year with macroeconomic uncertainties, including a cooling economy, slowing hiring rates and competition to attract the right talent. Australia has seen a 14 per cent decrease in hiring1 rate since September 2021, according to LinkedIn’s latest Global Talent Trends report.
Further, 40 per cent of HR leaders say they can’t build skill development solutions fast enough2 to meet their evolving needs. And despite recruitment being a top priority for 46 per cent of HR leaders, 36 per cent say their sourcing strategies are insufficient3 to find the skills they need.
Here are three unique challenges that HR will need to deal with in 2023:
1. Dealing with attrition
When faced with key team members leaving a department, workloads tend to be shifted onto the rest of the team, resulting in other employees having to learn new specialist skills fast to fill job-critical needs.
2. Filling critical job vacancies
The job market is tightening across APAC4 following the Great Reshuffle – and hiring is slowing down globally. Critical skills shortages are still an issue for organisations. And often candidates aren’t being hired based on skills, but rather their degree, previous position, or connections. Plus, there’s limited time and resources to get job posts out. All this puts pressure on HR teams to decide which roles take priority.
3. Addressing skills gaps
Given today’s tight labour conditions, time is often wasted interviewing candidates who lack the right skill sets to help departments thrive. As the cost of recruitment fees inevitably grows, this attracts additional pressure from senior leaders to justify the accumulating costs.
Ultimately, these ‘make do’ moments distract from the HR team’s
As an HR leader, this means making important decisions – trade-offs between cost savings and investing in talent, for example, meeting critical business requirements and the needs of your employees. These tough calls have a ripple effect throughout the entire organisation, its people and, ultimately, yourself.
This is a timely opportunity to stop making do and start doing more. To invest in your people, shift to a skills-first hiring culture. And to take the pressure off yourself.
Doing more starts here
The skills-first future starts with your people. You can help them stop making do and start doing more by unlocking limitless opportunities with LinkedIn’s Enterprise Program.
Here’s what it has to offer:
- Gain cost certainty and control – Get single pricing for all job posts and seats, custom-built for your organisation.
- Shift to a skills-first hiring strategy – Attract talent with the best skills through limitless job posts for every open role.
- Build a learning culture – Get limitless access to 39k+ skills and 18k+ LinkedIn Learning courses to upskill and boost employee and business growth.
- Stand out from the competition – Tell your organisation’s story and attract the right talent with a LinkedIn Careers Page.
For companies like Globe Telecom, LinkedIn Enterprise Program helps HR departments build essential skills and competencies at a critical time.
“As Globe continues to evolve, it is more important than ever to invest holistically in our people,” says Renato Manuel Jiao, Chief Human Resource Officer at Globe. “Our partnership with LinkedIn enables us to elevate our learning, engagement and hiring experiences and put human skills at the heart of our talent strategy.”6
To find out more and hear success stories from around the globe, visit LinkedIn’s Enterprise Program.
References
1. LinkedIn: Global Talent Trends October 2022
2. Gartner: Top 5 Priorities for HR Leaders in 2022
3. Gartner: What Will HR Focus on in 2023?
4. CNBC: From Great Resignation to great uncertainty, the big quit may be losing steam
5. Josh Bersin, 2022, Unleashing Human Potential: The Real Secret Of Business Success
6. Case study: Globe builds a holistic approach to talent development with LinkedIn