The Post-COVID Talent Wars: The Scramble for Workers in a More Digital World
Aug 2, 2021 12:00:00 AM
*Even without the unique challenges of a post-COVID world, the traditional hurdles to recruiting persist. It takes time to search for, hire and onboard new employees. There is always the risk of hiring the wrong person or misjudging the needs of the organisation. Halian can help address these issues through consultation and support for temporary and permanent hiring solutions. Our services deliver the speed and flexibility that will help firms re-assess their business and pursue new opportunities.* As many parts of the world emerge from the state of emergency caused by COVID, many businesses will find themselves scrambling for tech talent in the coming months and years. The global economy is revving up, and some of the businesses that were forced to lay off workers at the outset of the pandemic are now looking to re-staff and even expand key segments of their business. These organisations will face stiff competition as the global workforce re-aligns in a new world. In the context of this rapidly evolving business context, the most successful firms in the ‘talent wars’ will have an ongoing competitive advantage. According to [McKinsey](https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/how-covid-19-has-pushed-companies-over-the-technology-tipping-point-and-transformed-business-forever), the pandemic has ‘Speeded the adoption of digital technologies by several years.’ Instead of going back to normal, organisations will face the new reality of more employees working remotely. While this may save on office space, firms will need to bolster their IT support to ensure that remote workers remain productive. Moreover, some key tech-oriented sectors have expanded since February 2020. For example, the pandemic gave a huge boost to E-commerce businesses. There is a [looming shortage of skilled programmers](https://www.hdi.global/infocenter/insights/2019/skill-shortage/) who can deliver and support safe and secure E-commerce platforms. The already tight labour market for cyber-security expertise will be strained even further as more work and more transactions are conducted online. Geo-political factors will affect many firms that rely on ex-patriots to staff their technology departments. The pandemic has led to government-imposed travel restrictions in some parts of the world, forcing some foreign workers to return home. The extent to which workers will be able and willing to cross borders to return to work is unpredictable and will likely vary from country to country, region to region. Many companies have invested in [skills development programs, or ‘upskilling’](https://news.microsoft.com/en-xm/2021/04/14/microsoft-empowers-more-than-a-quarter-million-uae-based-professionals-to-train-in-digital-skills-during-covid-19-crisis/), for their current employees to fill an impending talent shortage. While this can be an effective strategy for filling roles and motivating employees, it has risks. Some [leaders worry that they will lose their newly trained workers](https://www.pwc.com/m1/en/media-centre/articles/upskilling-the-key-to-emerging-stronger-in-the-new-normal.html) – that they will effectively be training their competitors’ workforce. Another concern is that organisations will misread the emerging landscape and fail to develop the right skills. There is also the danger that workers might not be properly motivated or incentivized for these programs – they might view it as just another task that takes them away from their work instead of as an opportunity to make a positive contribution to the organization and their own careers. Done right, upskilling can be effective in productivity and worker retention, but there are risks. While there are many ways to measure the extent to which COVID has disrupted business, it’s much harder to know how it will have changed workers relationships to their work. There is growing evidence that [workers desire more meaning from their work](https://www.salesforce.com/contents/impact-of-equality/). It’s unclear how much the life disruptions related to COVID will lead them to reassess their professional priorities. Without the day-to-day connection to co-workers, some may feel disconnected from the firm. Doubtless, some have enjoyed working from home, and some may be hesitant to return to long and stressful commutes to work. It’s becoming more important for organisations to enable a ‘work-life balance’ and [go further to integrate well-being into work](https://www2.deloitte.com/content/dam/Deloitte/xe/Documents/human-capital/me_2021-deloitte-human-capital-trends.pdf). Organisations that can articulate socially responsible goals and create a people-first work environment will be better positioned to recruit and retain talent. A skilled and adaptable workforce is the key to success in many sectors. There are several ways to attract, develop and retain talent. As the global economy looks over the horizon in a post-COVID world, smart organisations plan talent acquisition strategies that address the new realities. To win in the post-COVID ‘talent wars,’ organisations will have to develop new tactics to recruit and retain workers in a more digital world.