The first quarter began well as we started to regain our personal lives and momentum started to build. The second quarter was exhilarating as we experienced re-connection with family and friends and ventured back to vaguely familiar routines. The third quarter started well, but as the quarter unfolded, momentum slowed and that halting anxiety started to re-emerge. The fourth quarter saw the full realization that we were not returning to old normal soon and that once again we would need to protect ourselves and the most vulnerable.

Demand for permanent placement and interim staffing of finance and accounting professionals was remarkably strong throughout the year. Here are some observations regarding talent acquisition for you to consider.

Demand for talent continues at unprecedented levels. We saw explosive growth in 2021 and expect that this will continue for the foreseeable future. We expect economic activity to continue to be strong driving demand for talent. We also expect labor force participation rates to continue to be subdued as baby boomers exit the workforce and families continue to negotiate the challenges of life in a Covid-19 world.

High-quality candidates are in an enviable position. We have seen candidates accept a position, only to withdraw that acceptance 24 or 48 hours later. We have seen many situations where candidates are considering multiple offers. We have seen candidates stipulate remote work (either completely or in some hybrid format) as a requirement for acceptance. We have seen multiple candidates negotiate around all elements of compensation including base, incentives, vacation time and other fringes. Candidates believe they have the upper hand and are not bashful about flexing their muscles accordingly.

PREMIUM CONTENT: US Internal Compensation Estimator: 2022 Update

Prospective employers must move quickly and with aggressive offers. We have advocated that prospective employers streamline their hiring processes and bring their A game when extending an offer. The old truism that “time kills all deals” was never more true than in 2021. For the hiring manager caught up in corporate bureaucracy, this market proved challenging at best. We see no change in this phenomenon and continue to advocate for the most efficient process a prospective employer can design coupled with aggressive offers to attract candidates.

In many cases, employers are no longer constrained by geography. We have seen several instances where companies have selected out-of-market candidates for roles in their organizations. This was unthinkable prior to 2021, but technology makes this approach feasible today. It also gives employers access to talent anywhere for compensation levels that are potentially attractive. We have seen employers use this as an effective strategy for expanding the pool of applicants.

Personal stress remains a primary concern. We see no quick end to the primary drivers of the tidal wave of anxiety people are experiencing. Economic growth in many areas likely will continue while employers will likely continue to experience challenges in hiring additional staff. Perhaps most underappreciated, individuals will continue to try and negotiate a much more complex family, day care, school and work dynamic. We continue to believe that helping our people through these challenges will remain at the top of the management agenda.

Are we moving too fast on the remote work model? We conclude with one cautionary note regarding the speed to embrace remote work. In 2020 and 2021, candidates wanted and employers were obligated to provide a remote work option for their teams. This was possible due not only to the technological infrastructure we all enjoy, but also the connections established within teams prior to the onset of the pandemic. Those connections were in many ways the pillars on which the remote model operated. As new additions to teams join, those pillars of connectivity will no longer be as sound. Perhaps more importantly, our ability to reinforce those pillars by creating connections with new teammates will be sorely tested. Digital interactions work with teammates who have worked together for years. How will they perform with teammates who are rarely if ever in the same place? Will we still be as comfortable having our teams all over the place? This vast experiment will be tested in a big way in 2022.

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Mandates impacting three different groups of workers are currently being tied up in the courts and state legislatures are passing their own policies that directly contradict the federal mandate.

What can employers do?

In short, start preparing. If you’re struggling on where to start, check out our webinar “Navigating Vaccine Mandates in the Workplace.” You’ll hear from the Adecco experts who are closely watching a still unpredictable situation:

• Vanessa Hodgerson, VP, Counsel
• Donna Scholz, VP, HR Compliance
• Jonathan Stokoe, SVP, Adecco

Learn more about current state laws and court challenges, and what you can do to be ready for whatever shakes out.

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2020’s target was hit. 2030’s target of 1.5 million women in STEM occupations would see 30% of this workforce filled by women. According to the Harvard University Institute of Politics, 30% is the “critical mass” level where a minority group of women would have the ability to influence real change.

In a post-pandemic, post-Brexit world, women in STEM have become more important than ever. These two events have highlighted issues within these sectors which we will look at here.

Exasperated inequality

The COVID-19 pandemic affected the world in many different ways – one being unravelling the limited progress we had made towards gender equality over the last couple of decades. While research has reported that men are more susceptible to severe effects of COVID-19, the financial and social toll is paid by more women. Women in insecure, informal, and lower-paid jobs experienced more loss of employment. Furthermore, Black, Asian, and ethnic minority women were hit hardest by job cuts.

Jobs in STEM fields are more likely to be higher-paid. There is a lot of growth in these jobs as well as high employment rates for graduates and being revolutionised by technology. Women are at a disadvantage by being underrepresented in some of the most lucrative and secure industries.

According to the UN’s report, Policy Brief: The Impact of COVID-19 on Women, “Across the globe, women earn less, save less, hold less secure jobs, are more likely to be employed in the informal sector. They have less access to social protections and are the majority of single-parent households. Their capacity to absorb economic shocks is therefore less than that of men.”

PREMIUM CONTENT: Wages and Inflation 2021

Diverse perspectives

Melinda Gates, renowned philanthropist and former general manager at Microsoft, said, “Innovation happens when we approach urgent challenges from every different point of view. Bringing women and underrepresented minorities into the field guarantees that we see the full range of solutions to the real problems that people face in the world.”

The pandemic taught us that empathetic, reactive, and agile leadership was essential to help curb the spread of the virus. Legislation brought in by female prime minister of New Zealand Jacinda Ardern helped stamp out the virus across the entire country. It has been reported that female leaders have handled the pandemic crisis well.

Now, more than ever, it is important to have a female point of view in the workplace, not just in politics, but in industries where women are underrepresented. Women can bring diverse and fresh perspectives to male-dominated fields, creating a better platform for innovation, creativity, and decision-making.

Embracing and encouraging women in STEM

Glass ceilings can be one of the primary reasons why women shy away from degrees and occupations in STEM. Throughout their education, girls are systematically drawn away from science and math courses, which discourages them from pursuing opportunities and training to enter these fields professionally.

We can encourage women to pursue STEM by:

1. Exposing girls to STEM material and introduce female role models in these industries at a young age
2. Encourage participation in STEM programmes through funding and ambassadors
3. Break down stereotypes around male and female careers

It’s important we open doors for women into STEM to not only benefit the industry but to create better opportunities for both women and the world. If you’re interested in pursuing STEM courses at university but have already applied for another course, explore your options, from Clearing in Edinburgh to apprenticeships in Newcastle.

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In this article, we will show you how to encourage good communication within your business and create a great company culture for you and your employees.

Poor communications lead to a poor business

Poor communications in a business can lead to unmotivated staff who will question their own confidence and abilities.

If you are in a management position, be approachable. You don’t want your workers to be scared of you, as this will not help your business. It has been found that team members that have a manager that is approachable will have the confidence to contribute ideas.

HR advisor Fred Holloway talks about how poor communication can cause problems in a business: “You can tie back almost every employee issue – attendance, morale, performance and productivity – to communication.”

Being a strong manager means being a strong communicator. Being able to communicate with your team means you will be able to manage them better when delegating tasks, motivating them and ultimately building relationships with them. You will understand which tasks they will be best at and how to motivate them in a way to which they will respond positively.

Creating effective communications within your business

Establishing strong lines of communication will encourage employees to talk to whoever they need to within the business. This will help with cooperation on tasks. In turn, this ensures that a task will be completed in the most efficient and effective way.

On a personal level, knowing each member of staff’s name is a simple way to strengthen connections and encourage communication too. You can have a more personal conversation, and they feel like you have cared enough to learn their name. Your customers will know your staff members’ names because of their name badges, so you should too.

Having regular one-to-one meetings with each member of staff is a great way to open communication. Telling the employee what progress they have made recently will give them the confidence to see their work is being appreciated. This also gives you the chance to raise any concerns you may have about their work and implement an improvement plan. One-to-one meetings also allow you on a personal, private level to speak to your employees and be able to help them with any problems they may have in and outside of the business.

In group meetings, this is a great time to talk to your entire staff. Informal group meetings can be hugely beneficial too, as they allow employees to shout out any questions or concerns they may have. Praising individual employees during this time will also give them a bit of spotlight in the company.

Overall, communication is vital for all parts of the business. Having employees comfortable enough to speak to who they need to in the business allows the business to run more effectively. It has been difficult to communicate well due to many employees working from home at the moment. But businesses are retaining those all-important communication lines using software such as Microsoft Teams to create virtual offices.

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With many companies worried about the Great Resignation – a predicted mass exodus of employees from their roles after the uncertainty of the pandemic settles down – I’ve been asked a lot about whether a dynamic workforce strategy could be the solution.

Employer-Employee Disconnect

According to the latest McKinsey research, one of the drivers of the Great Resignation is a growing divide between workers and the C-suite. While the majority of employers believe that the primary center for work post-pandemic will be the office, the majority of employees desire a more flexible working model moving forward.

Without taking the time to hear what employees are looking for and committing to trialing and implementing more flexible working models, I can already see the writing on the wall. Employers risk plummeting morale, satisfaction and productivity, not to mention employees who quickly begin to look elsewhere.

PREMIUM CONTENT: North America Temporary Worker Survey 2021: Full Report

The Potential of a Non-Payroll Workforce

One meaningful solution is to transition your workforce into a small core staff of dedicated employees, augmented by what I like to think of as a talent cloud. Your core staff works on strategy and manages direction, and this vision is practically executed via a niche, skilled freelance economy that’s growing all the time. Imagine a smaller full-time workforce with more responsibility and trust. They oversee your contractors, who are in turn empowered with flexibility, autonomy and choice over what projects they take on, the compensation for their time, and the location from which they work.

For your business, this enables a critical shift in mindset. Today, management looks into the existing workforce of employees and asks, “Whom do I have in my workforce who can take charge of this project or strategy and get the best out of it?” It’s a very limited perspective. In a more agile workforce, decision-makers are not narrowed down to a specific pool of workers from which to draw talent – they can look anywhere for the best freelance candidate available for the job at hand and then cherry-pick employees to manage and supervise output and performance. By scaling up and down as needed for specific projects, companies can also streamline operational costs, paying for the human capital they need when they need it.

The dynamic workforce becomes a win/win. Your core employees gain more responsibility and seniority in-house, improving retention and turnover. At the same time, your organization benefits from a limitless pool of quick-to-onboard independent contractors that are motivated, uniquely skilled, cost-effective, and experienced for the job at hand.

Empowered with a Proactive Approach to a Dynamic Workforce

Today’s organizations have an opportunity to move from a mentality of “adapt or die” to “adapt and thrive.” Creating a flexible and dynamic workforce doesn’t have to be a response to the pandemic or a reactive strategy in fear of a trend like the Great Resignation. Instead, I believe that we will see a strategic shift to increased agility by companies leveraging disruption to make their businesses simultaneously more resilient and more skilled.

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Smart, future-focused organizations are creating a people-first strategy. That means being open to new ways of meeting talent, creating a meaningful culture and considering different types of workplace models. The following are five key areas employers should consider today and in the future.

1. Establish a clear purpose/mission and values. People want to work for organizations that share their values — and act accordingly. Clearly knowing and communicating who your organization is, why it exists and what it stands for helps you attract like-minded people who want the same things and are aligned on how to get there. More than ever, people want to work in an organization that allows them to contribute to something greater than themselves and make a difference for the world. A clear purpose/mission and values are essential to creating a people-first organization, and now is the time to assess and update them for the future.

2. Earn trust through transparency. Trust has plummeted across institutions such as government, healthcare and the media. Organizations have an opportunity and the responsibility to step up and earn people’s trust through honesty, transparency and vulnerability. Employers can build trust by consistently being who they say they are, staying open to feedback and being willing to adjust if they fall out of alignment with their purpose/mission and values. The companies that can do these things authentically will earn meaningful relationships with employees, partners, customers and communities. They will also be in the best position to attract and keep talent.

PREMIUM CONTENT: US Staffing Industry Pulse Survey Report: July 2021 Selected Highlights

3. Embrace flexibility. The data shows that employees are as effective, if not more effective, when given flexibility to work remotely, and that the majority (41% in fact) prefer to continue working that way. Individuals want flexibility, but they also want to be around other people. Organizations need to achieve both by allowing for flexible work but also bringing people together for onboarding, training, celebrations and other in-person events that can be helpful. People-first businesses consider what’s best for the business, as well as employee preference, to meet people where they’re at in a variety of ways, including schedules, communication preferences and approach to work. When this happens, everyone is willing to lean in and create the best solution. And for employers, this shift opens a national market for high-impact talent and companies to find each other — a true win-win.

4. Authentically activate Diversity, Equity and Inclusion (DEI). Meaningful work is at the center of personal and professional decisions. People want to work in teams with diverse strengths and perspectives. The 2021 Edelman Trust Barometer finds 86% of survey respondents expect CEOs to speak publicly on DEI/social issues. Businesses need to define, communicate and activate their DEI commitments and think differently about whom they invite into their organizations to create a diverse team and inclusive workplace. True change requires clear action steps and measurable progress designed to break down barriers. A strong record of following through on DEI commitments will demonstrate credibility.

5. Create an agile workforce. A recent report notes that 46% of the average organization’s workforce is now considered contingent. An employee-driven market is creating new requirements, and we need to pay attention to what is changing.  Like it or not, the way we work today will change in the fall and likely again in the winter as we find our new norms. People have options and are thinking differently about how work fits into their life versus fitting life into their work. Companies willing to embrace the benefits of an agile, flexible workforce are best able to accommodate ever-changing business and marketplace needs.

People-first organizations are best positioned to create the meaningful work opportunities that lead to better business outcomes, improved work-life balance and fulfilling careers. If you look closely, change and optimism are in the air. And there’s never been a better time for employers to do something extraordinary and capture this unique opportunity.

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Resource demand is spiking, particularly across the contingent workforce, as skills shortages and sudden surges in business activity accelerate the need to scale up resources. However, this resourcing challenge is also being exacerbated by an exodus of talent from major cities.

A recent analysis of the US Postal Service’s changes in permanent address data shows high levels of relocation in the last year. The trend appears to be away from big cities such as New York, San Francisco and Boston to other locations with lower living costs. According to the analysis of these moves, smaller metropolitan and vacation areas are proving more appealing, with Idaho, Colorado Springs and the Grand Strand of South Carolina seeing an increase in people relocating to these destinations. New Jersey also appears to be desirable for many leaving New York, with the number of people moving into the suburban counties up 76% between 2019 and 2020.

Relocations between counties were up 7% last year when compared to 2019, with the tail end of 2020 the most popular time for people to make a permanent move.

PREMIUM CONTENT: US Staffing Industry Pulse Survey Report: July 2021 Selected Highlights

At Guidant Global, we’ve analyzed multiple reports and data sets to see where people are relocating to and from. Our findings support the idea of previously popular cities losing talent to other locations. As a case in point, some of the data we’ve seen suggests that for every two workers New York gains from LA, it loses three others, while it is also losing two people for every new citizen to the Miami-Fort Lauderdale area. Other popular destinations attracting New York’s elite professionals include Greater Philadelphia and Greater Boston.

In Chicago, every worker the city gains from the Denver Metropolitan area is offset by the loss of two others. Figures for Dallas-Fort Worth Metroplex showed a similar rate of talent loss. Other popular destinations attracting Chicago’s elite professionals include Los Angeles and the San Francisco Bay Area.

When we combine all of the available insight, one thing becomes incredibly clear: our people are not where they used to be. After a year of remote working, the traditional hubs of talent attraction, such as New York and Chicago, have lost their appeal for many professionals. For those displaced by the pandemic, a move to a more affordable location has been a necessity rather than a choice.

And while there are varying reports of where people are moving to and which cities are now most popular, the simple fact is this: no firm and no staffing company can assume they will find the talent they need in any given location.

Instead, for those able to deliver work virtually, talent attraction teams will need to broaden the scope of their strategies. A focus on a particular county is no longer necessary for some – a positive outcome for those facing particular skills shortages. This is significant for a few reasons.

Organizations that require on-site contingent and permanent workers will see the biggest impact of this great talent exodus. For some, a campaign to re-engage those displaced by the pandemic is already underway. On a longer-term basis, work will be needed to attract and encourage people back to areas where on-site workforce demand is rising. But perhaps most importantly, this combination of talent moves and competition for resources has made it more critical than ever to get true value from workforce supply chains.

Now is the time to rethink resource strategies and utilize external, cross-county experts to engage with workers you haven’t interacted with before. Tough times are still ahead, but we have reached an exciting and pivotal moment where the future of work will be shaped by what employers and talent attraction managers decide to do next.

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According to the Labor Department, the share of United States workers who left their jobs in April was 2.7%, the highest level since at least 2000. And if they haven’t left their jobs yet, they’re planning to, according to a recent study by Prudential Financial, which found that one-quarter of workers say they plan to look for a role with a different employer soon.

Turnover isn’t cheap, either. Estimates vary, but conservatively, replacing an employee can cost a business one-half to two times their annual salary. The smart play for businesses is to invest in both current and prospective employees in order to ensure retention and stand out amongst competitors.

PREMIUM CONTENT: July 2021 US Jobs Report

Successful Organizations Focus on What Employees Need 

Investment is about more than just money. While salary requirements will usually drive contract negotiations, the perks and benefits are turning out to be just as important for the diverse workforce of today. Benefits packages now go beyond the staples of health insurance and 401k plans to include investments in employees’ short- and long-term futures.

Here are a few ways that successful companies are utilizing benefits to invest in their most valuable assets — their human capital:

1. Job up-skilling and soft skill development. The workforce is largely made up of millennials, and 87% of them say that career growth and professional development are important factors in their job decisions. Whether a position is changing because of technological advances or analytics requirements, offering employees the opportunity to grow with their position is vital. Not only are new skills a welcome development for employees, but soft skills development like leadership, management and communication are drivers for successful retention. Employers can provide fully-remote training through learning libraries for soft skills as well as industry-specific courses, and artificial intelligence and virtual reality are making training an immersive, interactive experience.

2. Mentoring and feedback. To grow in their fields and reach their true potentials, employees need feedback and coaching. Whether through regular feedback, annual performance reviews or mentoring opportunities, employees are demanding that those in leadership positions invest more time in providing career guidance. Mentoring relationships benefit both employees and businesses by developing strong employee loyalty and ultimately increasing worker retention.

3. Fully remote and hybrid work models. The pandemic forced employers to adjust their work requirements, and many employees are now demanding some of these changes stick around. A flexible work environment is no longer just a perk, but a necessary investment for employers. Research conducted by the Society for Human Resource Management (SHRM) showed that 52% of employees forced to work remotely due to the pandemic want to continue to work from home permanently on a full-time basis.

More than two-thirds of small businesses reported they are currently having a hard time finding qualified workers. Raises and promotions help retain talent, but they aren’t the only way to think long-term. In a job seeker’s market, finding ways to attract new talent is the only way to keep an innovative, talented team. The ways that businesses show up for their employees will continue to change as cultural priorities shift, but the philosophy that will stick around is one that involves investing in people.

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This month’s top trends in the world of work include:

1.Manufacturing faces deep skills gaps and a lack of talent

2.Hiring in the era of digital nomads

3.Acceleration in the automotive industry

4.Focusing on workforce retention through learning and development

5.The convergence of sustainability and skills

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Positive aspects of remote work

Remote work has many positive aspects. It gives people security, optimism, resolve, and the ability to adapt to this new work environment. Employees can establish a workspace at home (https://generalcontractorlosangeles.us/how-to-transform-your-garage-into-an-office/) by making use of the space in the garage or a spare room, and enjoy many benefits of working remotely:

• staying safe from COVID-19;
• eliminating commute time;
• employees can spend more time with their families;
• flexible working hours and better time management;

However, are there any downsides to this?

The line between work and home is gone

One of the reasons why remote working can impact employee’s mental well-being is that there is no line between working and living. Since you can work flexible hours, your private life slowly mixes with your shifts. For some, this poses no problems. However, there are those who do not want to bring work to their homes.

As a manager, one way to battle this issue is to help create a cozy space for your workers (https://generalcontractorlosangeles.us/interior-design/). Share design ideas on how they can separate work from home even when working remotely, and understand that they need off time once their shift is ended.

This is also important for all recruiters during COVID-19. Explain to the potential new employees how your company is doing everything for its employees so that they still have private space even during remote work.

Working from bed is not efficient or productive

When employees wake up and start working while still in their beds, productivity and efficiency drop. It might seem like something attractive, but only at the beginning. Over time, employees will start to feel lazy, and that will affect their work ethics. Companies are returning to mid to long-term strategic planning (http://www.thestaffingstream.com/2021/04/07/returning-to-mid-to-long-term-strategic-planning/) while still working from home, so it is crucial to have this problem in mind. If you don’t take it seriously, it will affect the business in the long run.

Work comes first

Remote working can impact employee’s mental well-being because it creates a feeling that work comes first. The pressure is always on, and it can create a setting where you work and go to sleep, just to wake up tomorrow and work again. Slowly, everything becomes work-oriented.

Remote working can impact employee’s mental well-being because of the isolation

When you go to the office, you need to dress up, socialize with people, and always be energized. For some, that becomes a measure of success. Remote working is slowly isolating employees, and they are losing their sharpness. People may feel as if they are in a state of stagnation, where nothing new happens.

There needs to be a balance

It is crucial to remember that we need balance in everything. Working remotely has an array of benefits, and it is definitely something that employees need. However, too long periods of remote working can impact employee’s mental well-being. When the opportunity allows it, consider creating a schedule that will help your employees get back to the office, but also leave a few days every week for remote work.

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