The legacy of the global pandemic and the future of work is yet to be determined. As firms carve out a path forward, there are signs that the flexible working paradigm may be the solution to the impending talent challenge, namely the battle of acquisition and retention. A recent Forbes feature, in partnership with our parent company Phaidon International, raises prominent questions: what are the major factors driving the talent challenge and how can financial services organizations implement key strategies to weather the approaching talent storm?
As we progress into 2021, a principal challenge identified by many firms is how to engage and retain high-caliber employees as markets and opportunities open. As part of the Phaidon International group, the leadership team at Selby Jennings collated and analysed feedback from senior professionals in the financial services industry. In a recent survey, a little over half (53%) of respondents report that remote working is an influencing factor when considering a new job opportunity. Candidate sentiment indicates that workplace flexibility has heightened individuals’ sense of clarity, autonomy, and mobility; consequentially leading candidates to explore new opportunities and seek greener pastures.
For firms to survive in challenging market conditions and an ever-growing competitive recruitment landscape, the right talent engagement plan will be crucial to retain key hires and ease potential talent pressures. It is critical that corporations understand the candidate market, prioritize employee centricity, and know when attractive employees have ‘itchy feet’ – therefore preventing talent from jumping ship. The tidal wave of a new talent threat is emerging, and the result, a potential mass exodus of key employees post-pandemic.
To learn more about navigating the talent challenge post-pandemic, check out the library of resources on Phaidon International.
For practical strategies, download our guide "How to Avoid a Talent Exodus":