How the changing labor market affects digital transformation

expressed opinion entrepreneur Contributors are their own.

Gone are the days of working for a company for decades.The average willingness of Americans Work 12 times Over their lifetimes, that number will likely only increase in the next few years.more than a third of the U.S. Mandatory job changes in 2020, but more people are actively looking for new jobs As I write this article. Big resignation is a bit of a misnomer. It has less to do with people quitting and more about a complete shift in jobs. This is not a fad, but a profound and permanent shift in the labor market.

Entering the age of remote work

Workers in the knowledge and technology sectors have more freedom of choice than ever before.With the prevalence of remote work, those seeking It is no longer necessary to limit yourself to the available jobs in their physical location. They can work for anyone they want, anywhere.

it’s over now 15.5 million Global digital nomads, an UpWork study estimates, 36.2 million By 2025, Americans will be working remotely.The age of digital nomads and remote worker has arrived.People aren’t afraid to use their newfound freedom to leave jobs they don’t like and pursue jobs they love (no matter how much or how much they’ve been there).

country likes Brazil Special visas have even begun to be created specifically for digital nomads to provide long-term stays for those working remotely. And this is just the beginning. If we deny reality and try to leverage the same tactics we’ve used before, we won’t be able to successfully retain top talent and create healthy, thriving businesses.

related: Here’s How Your Workplace Can Survive The Big Resignation

Create a team

So the future of all these shifts workplace? as many said, maintaining a stable team is more challenging than ever. Remote work has had a major impact on workplace relationships and employee retention. Our working relationships become utilitarian when our interactions with colleagues are limited to Zoom meetings and phone calls. What do we need to accomplish in this meeting, or what do we need from each other—other than joy?

The workplace is first and foremost the environment in which you interact with others. Many work environments are now shifting to mostly remote locations. So building relationships is done entirely through the screen. Building the strong bonds that once existed in workplace relationships is much harder. The problem is, if we don’t have strong ties with our colleagues, we won’t have strong ties with the companies we work for. When a better offer comes along, it’s much easier for employees to jump ship. This is because there are no relationships to sever or colleagues to give up. They’re not leaving their beloved colleagues behind – they’re just taking care of themselves.

we can’t expect Continue to deal with this changing situation as usual. We need to keep pace with it, creating new mechanisms to foster corporate loyalty and better systems to support remote workers.

related: 4 ways to design a work culture that beats quitting

the way forward

There’s more than one way to thrive in the new labor market, but none include a return to old practices. Remote work isn’t going anywhere (and I’m not advocating it either). People will continue to change jobs with increasing frequency. The way forward will require a flexible attitude, a strong commitment to purpose and a willingness to adapt.

Some companies may choose to embrace these changes and adapt their models to take advantage of short employee tenures.They may use experts to create temporary team For specific projects with predetermined schedules. Thus freeing himself from the dependence on employees to stay in the company for many years at a time. The lines between employees and freelance contractors have blurred. We have the option to use this new field for shorter collaborations with top experts.

If ad hoc teams are not attractive to your company, monitoring attrition should be an area of ​​focus as it represents the pulse of your company. To minimize wear and tear, you need to be proactive. Create a plan to give employees a reason to stay by developing a strong sense of company culture. This may include robust career building services, mentoring programs and employee events to foster a sense of community.

Obviously, this change affects industry, whether it is the demand side or the talent supply side. A third route is to rely on other companies to provide you with the talent you need – we’ve seen a much greater demand for nearshoring services. But at the same time, you need to choose carefully so as not to face the same attrition problem, just under another entity.

Finally, there are no fragile or premature targets in the new labor market. Leaders must walk the talk to demonstrate their clear purpose. People don’t stick around to follow a leader who doesn’t keep his word when countless proposals knock on their door. In this market, it is not uncommon for people to receive multiple offers at the same time.some are Already engaged in multiple jobs At the same time, it shows how much choice (and power) candidates have when deciding where they want to work.

related: How embracing great redefinition will help your company thrive

ready to change

Some might argue that this overheated talent market, especially in tech, might cool off with the next recession. However, I would say it won’t. The gap between needed and available talent will continue to widen for the foreseeable future. This is because more and more companies understand that technology is the foundation of any business and is actually the best way to fight a recession.

A company can only be an abstraction of people scattered around the world. We need to adapt to create sustainable businesses that attract top talent, both in the short and long term.

No matter which path your company chooses to take, it’s time to accept that the changes we’re seeing today will continue long after there’s no more thought of a big resignation. the future of work Changing. Are you ready to change?