Workforce dynamics and demographics will further change in the coming year. The changing workforce dynamics and demographics will change how organizations will recruit, manage and develop talent. There will be more focus on the new generation’s aspirations, mindset and expectations as the youth of today are more concerned about their own savings, and what the company is planning for their retirement.
The focus however will be further strengthened on bridging the global talent gap. The declining birth rate and shrinking working population world over will force organizations to innovate and make companies highly reliant on technology for end-to-end business solutions. Further, the growing market for SMEs in India will demand the need to manage talent requirement in smaller cities.
Companies will also bid for critical talent by creating the environment that will attract loyalty from talent for critical roles. Thus, the organization’s brand will become more important.