Flexibility will be needed in a competitive employment market as workers look for new challenges, says Times of India human resources director Amit Das.
Moving from the Great Resignation to the Great Hire post COVID-19, publishers will need to find new ways to attract and retain talent to remain “at the forefront of an era which has called for a wave of transformation”.
He says the pandemic altered the way we work, with many emerging trends creating an impact on the jobs landscape. “While 2020 was noisy with deliberations around pay cuts, job cuts, role changes, and furloughs, 2021 has been quite different,” he says in an INMA Media Leaders blog.
An overhaul of the job market and hiring landscape has seen a large chunk of the workforce looking for more flexible working environments. And with a lot of people leaving their jobs, there is an opportunity to hire the best talent right now.
Amit Das – who chief human resources officer at Times publisher Bennett Coleman & Co – says a large number of workers left their jobs after the pandemic, and studies suggest many more plan to move. He quotes a study by Monster.com which put the figure at higher than 90 per cent, in what is being called the Great Resignation.
But there has also been an upturn in hires, with more in recent months than resignations. “With the economy coming back on track and organisations looking at reimagining themselves in the hybrid space, the scope for hiring more talent has only increased,” he says.
“This is the time to hire, and this is when the best talent is out there looking for the best employer.”
He says newer workforce dynamics and with the gig workforce and contractual labour gaining more prominence, flexibility is going to be a differentiating factor for organisations as they look to hire. A recent Microsoft study confirms employees want the best of both worlds when it comes to workplace flexibility, with more than 70 per cent of workers desiring flexible remote work options to continue and more than 65 per cent seeking more in-person time with their teams.
Similarly, according to a McKinsey report, 80 per cent of survey participants said they enjoy working from home, and 41 per cent said they’re more productive than ever. “As organisations get real about remote and hybrid work, they learn that those able to provide workers with the flexibility to work where and when they want enjoy a significant competitive advantage in talent access over less flexible peers,” he says.
“In such a scenario, organisations are striving to be talent magnets, hiring more employees than they lose and focusing on why people join and stay as well as why they leave.”
Organisations need to ensure their hiring strategies are aligned with the goals and aspirations of the new age workforce, with potential employees looking not just for good roles and compensation, but also for purpose, meaning, and flexibility.
He says rewards programmes need to cater to needs and desires, and employers need to cater for well-being, “the most critical factor in any hiring strategy.
“Organisations that intend to stay at the top of their game with world-class talent need to ensure that hiring is beyond what it used to be before 2020. It is time to reset and reimagine hiring as healthy employees drive healthy organisations.”