Latest KellyOCG Global Workforce Report, known as Re:work, has found that the Australia is facing a skilled workforce crisis and an alarming struggle in making the hybrid workforce a success. Just 12% of Australian businesses believe that hybrid work is positively impacting organisational culture compared to 21% globally while Over a third (34%) of Australian leaders have reported that the complexity of managing a hybrid workforce will eventually require a return to the office, which is quite higher than global leaders (28%).
Peter Hamilton,Vice President and Managing Director, APAC, KellyOCG said, “Australia is facing one of the greatest skills crises in our lifetimes. The battle for talent is fierce as the economy recovers from a challenging two years of border closures and lock downs. However, the renewed optimism felt by organisations is also being echoed by employees themselves.”
He also added that leaders know that they could walk out the door into another job at any time, so the real challenge is not only finding new talent but also retaining and nurturing the talent you currently have. Smart companies are no longer thinking of flexible, hybrid and inclusive work as a nice to have, they are investing in the technology and experiences that make it more tailored to their workforce.
Yet the report also suggests that these challenges can be tackled if followed the lead of ‘vanguard’ companies - a group of thriving organisations who have a blueprint of key dynamics for driving the right approach to culture, technology, and talent management.
- 58% seniors leaders worldwide have responded that they are unhappy in their current position as compared to 45% Australians. However, 76% Australian leaders have said that they will leave their company in the next two years as compared to 72% worldwide, representing the ‘boss loss’ phenomenon prevalent in Australia.
- Only 12% believe that hybrid work is positively impacting organisational culture compared to 21% globally. 34% of Australian leaders have said that the complex nature of hybrid work will compel employees to return to office, quite higher than global leaders (28%).
- 75% of Australian leaders responded that they have already implemented a shorter work week or plan to do so in the next 12 months, which is quite higher than the average of 69% for global leaders.
- Only 27% Australian leaders have invested time in implementing DEI strategies.
- While, 76% leaders have said that they have not fully utilised the data analytics tools.
The ‘Vanguard’ solution
KellyOCG Global Workforce Report suggested following the lead of “Vanguards” – a group of thriving organisations that report an increase in employee wellbeing, productivity, and revenue growth in the last year, can be fruitful for those looking to sustain in the post-pndemic world. These vanguards represent 15% of global survey respondents and their blueprint contain four key dynamics :
- Vanguards are strengthening workforce agility(15%) and are more likely to use contingent talent to improve workforce agility (41% vs. 26%), which suggests a link between contingent talent and higher employee productivity & wellbeing.
- Vanguards are taking concrete action on DEI with senior leaders more likely to engage with workers across the organisation around DEI (82% vs. 60%) and are more likely to implement innovations and revamp them.
- Vanguards are reinventing the employee experience with organisations 24% more likely to say they have a good work-life balance, and 23% more likely to say they are happy in their current role.
- Vanguards are adopting the right tools and technologies to empower today’s workforce, enabling collaboration among in-office, hybrid, and remote workers (46% vs. 34%) and utilising platforms that allow a clear view of the mix of permanent and contingent talent across their business (42% vs. 32%).
Tammy Browning, president of KellyOCG noted, “A shift in workplace culture is needed and organisations must evolve to remain competitive, profitable, and attractive to top talent. Organisations that aren’t taking action across the four dynamics will continue to see employees at all levels walk out the door.”