Dr Ben Hamer, one of the leading voices on the future of work, joined Watermark’s interim team to present a webinar on “Winning the War for Talent - Reimagining the Employee Value Proposition”.
It was an insightful session with key takeaways as below:
Work has evolved over time, the one constant is change
The landscape of work is changing, accelerated by COVID-19. Unpredictable disruptors are transforming how, where and when we work – which in turn affect how we interact with businesses, brands and employees.
There are a range of key trends and critical considerations for the future, impacting organisations today such as:
Australian workers are vulnerable to automation
Since 2012, demand for digital skills has increased by more than 200%
Approx. 50% of all new roles created pre-pandemic were part-time. Forecast suggest part-time work will grow to 2030.
There are a range of other disruptors shaping work and employee expectations such as:
Low wage growth.
COVID-19 changed the power balance between employees and employers.
Labour market conditions are seeing employees and job candidates yield greater negotiating power
There are existing difficulties attracting talent
The pandemic has slowed 'normal' turnover rates
Leaders have thought on ideal 'turnover'
Employees are ready for change.
Although the areas of focus will be different for every organisation, the EVP levers remain the same:
Remuneration and rewards
Ways of working
Workspaces and places.
Remuneration and reward, snuck in as the number one EVP lever valued by workers.
There is an expectation gap between what workers want and what top executives think they want, which suggests that Australian top executives are out of touch with what people value from a job and their employer.
Lastly, Ben left us with some dos and don’ts.
A full recording of this webinar is below: