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2022
Talent
Lifecycle
Management
Unlockingtheskillsandpotentialoftheglobalworkforce
Private&Confidential-DoNotShare©BeameryInc.Allrightsreserved
2
TalentLifecycleManagement
Foreword
g“rapseid
Ontopofanincrediblytightjobmarketand
changingcandidateandemployeeexpectations,
we’relookingatworkershortages,international
politicalinstability,ahugeeconomicboom,and
apotentialincominginflationarycycle.
Havingtherighttalentinplacetoweatherthese
challengesismissioncriticalforeverybusiness
leaderthisyear.Itisabsolutelytimeforcompanies
totakeatrulytalent-firstapproach–toattractand
retainemployeesandoptimisetheworkplaceof
todayandtomorrow.”
AbakarSaidov
Co-founderandCEOofBeamery
TalentLifecycleManagement
53%ofemployeesareconsideringleavingtheir
currentrolewithinthenext12months.
Talentacquisitionandmanagementchangedmassivelyinthewake
ofthepandemic.The“greatresignation”hasseenamassexodus
oftalent.InApril2021alone,the
USLaborDepartment
confirmeda
recordspikeoffourmillionpeoplequittingtheirjobs,andmorethan
half(53%)ofemployeesareconsideringleavingtheircurrentrole
withinthenext12months,accordingtothesecondeditionofthe
BeameryTalentIndex
,with23%alreadyactivelylookingforanewjob.
Employees,havinghadtimeforsomesoulsearchingandreflecting
onwhattheyreallywantfromtheircareer,nowexpectmorefrom
theiremployers:moreflexibleworking,mentalhealthsupport,career
development,andtransparencyandtrustaroundcompanyvalues,to
mentiononlythemostmajorshifts.
Butit’saboutmorethanjustsolvingthetacticalissuescreatedbythe
pandemic.Inthecurrentmarketconditions,short-termtacticscan
quicklybackfire.Asatalentleader,youwillneedtodevelopstrategies
formanagingtalentacrossitswholelifecycle–fromattracting
potentialcandidatesatthetopofthefunnelthroughtodevelopment,
promotionandbeyond.Youneedanapproachthatallowsyouto
manageyourcandidatesandemployeesholistically,byconsidering
boththeircurrentandfutureskills,andunderstandingthedriversof
theirambitionsandprofessionalgoals.Inotherwords,youneedTalent
LifecycleManagement.
Thinkingstrategicallyandtakingatalent-firstapproach–andaskills-
basedapproachtohiring–putsmorepowerinyourhandsasatalent
team.Yougetamoregranularviewoftalent,givingyouaricherdata
sourcetomakesmarterdecisions:youcanstarttoforecastyourskill
needsandcreatemoretailoredtalentdevelopmentjourneys.And
itdrivesrealvalueforyourbusiness,wideningyourtalentpool,and
enablingbetterinternaltalentmobility,retentionandperformance.
3
4
TalentLifecycleManagement
READTHISEBOOKTOFINDOUT:
Whatnew,andlasting,challengesthe
pandemichascreatedfortalentteams.
Whatthepainpointsofthecurrenttalent
marketare,andhowtoaddressthem.
Howtoseetalentinanew,holisticway.
Howtolearnfromthechallenges,
andattractandretainthebesttalent.
Tableofcontents
Foreword2
Tableofcontents4
1.Whatthepandemicrevealed5
2.Thenewhiringparadigm7
3.Anewlensfortalent10
4.Howtoattractandretaingreattalenttoday14
Conclusion&keytakeaways–Anewmodelforthenewnormal17
TalentLifecycleManagement5
01
Whatthepandemicrevealed
Thepandemicacceleratedandamplifiedanalreadychallenging,competitivetalentmarket.Theworldwentdigitalalmostovernight,andremoteandhybridworkinghasbecomethenewnormal.Ithaspresentednewchallenges–andopportunities–foremployersandemployeesalike.
Feelingremote:Manyworkersenjoyed,andcontinuetoenjoy,theflexibilitythatremoteworkingallowed,withmorethanathird(37%)oftherespondentstoourlatest
TalentIndex
reportingthattheirwork-lifebalancewasbetterduringtheworstofthepandemic.Butnoteveryonefeltthebenefitsofthenewwaysofworking.
Youngerworkersinparticularhavebeennegativelyaffected.Alargeproportion(41%)of18-24yearsoldssharedwithusthattheirworklifebalancewasbetterbeforethepandemic,whentheycouldsocialisemorethroughtheoffice.What’smore,athirdofemployeesreportedthattheircompany’sapproachtoworking
fromhomehasleftthemfeelingbothisolatedandundervalued,and38%voicedconcernsabouttheirpersonaldevelopmentandcareerprogressionasaresult.
Thisgoessomewaytoexplainingthewideninggapbetweenemployeeoptimismabouttheiremployers’post-pandemicworkplacepolicies,andtheretentionissuesplaguingemployersasthegreatresignationoftheglobalworkforcecontinues.While
74%arehappywiththeir
companies’return-to-workpolicies
,morethanhalf(53%)areconsideringleavingtheircurrentrolewithinthenext12months,with23%alreadyactivelylookingforanewjob.
newjoiners,feelaboutremoteandhybridworkingandyourreturn-to-workpolicies.Youneedtoensureadequateprovisionforfacetimeopportunities,careerprogressiondiscussions,training,personalconnectionsandimprovedmentalhealthsupportastheyfocusongettingtheircareersbackontrackandwhattheywanttheirfuturetolooklike–insideoroutsideyourbusiness.
Opportunitiesforinternalmobility:Ithasalsoputthepressureontalentteamsinotherways.Ascompaniesadapttoeverchangingconditions,andfeeltheirwaythroughthelastingeffectsofthepandemic,it’shardertoforecasttalentneedsforthefuture.Accordingtosomerecent
researchfromIBM
,85%ofcompanieshavehad,andwillcontinuetohaveforthenexttwoyears,difficultyinforecastingtalentacquisitionrequirements.
However,thisispresentingtalentteamswiththeopportunitytomakethemostofthetalenttheyalreadyhave.While
halfofcompaniesexpect
theirrecruitingbudgettodecreasethisyear
,66%anticipatetheirlearninganddevelopmentbudgettoincreaseorstaythesameastheyseektoupskillandredeploytheirexistingworkforce,withinternalmobilityalreadyup20%sincetheonsetofCovid-19.
SowhilethelabourmarketisintheprocessofreboundingfromCovid-19aftertherolloutofvaccinesandboosterprograms,2022
mightstillseesomenewrestrictionsinplaceandincreasedcontagionriskswithnewcovidvariantsdetectedacrosstheworld.Thereisgoodreasontoexpectthetalentmarketwillstayjustascompetitiveforquitesometimeyet.
Soit’scrucialthatyouconsiderhowyour
employees,particularlyyoungerworkersand
TalentLifecycleManagement6
TalentLifecycleManagement
Summaryofchallenges
EXISTINGTALENTCHALLENGES
POST-PANDEMICCHANGESTO
TALENTMARKET
Siloedapproachtotalent.
Talentacquisition,internaldevelopmentstrategyandDE&Ieffortsaremanagedseparately,meaningthereisnocoherenttalentstrategytothewholelifecycleoftalent.Anditisdivorcedfromwiderbusinessgoals.
Afocusonroles,notskills.
Mostcompaniesarestillrelyingonoutdatedandoverlyrestrictivejobdescriptionsthatkeepvaluabletalentoutoftherunning.Byfocusingontheexistingdefinitionoftheroletheyarehiringfor,insteadofthinkingabouttheskillstheyactuallyneed,yourrecruitersmightbemissingoutonunderservedcandidatecommunitiesthatwouldbeagreatfitforyourbusiness.
Theskillsgap.
Evenbeforethepandemic,businesseswerestrugglingtofindtherighttalentinacompetitivemarket,particularlyintech.
Biastowardshiring,notdeveloping.
Mostbusinessesemphasisehiringnewtalent,ratherthandevelopingandredeployingexistingtalent.
Thegreatresignation.
Peoplearenowmoreacutelyawareofwhattheywantfromtheirjobandlife,andtheyexpectmorefromemployers.
Thenewnormal.
Workersnowexpecthybridorremoteworkingasthenorm.Andtheworkingstylediffersbyageandstageincareer.Younger/lessexperiencedemployeeswantthesocialaspectoftheofficeandface-to-facedevelopment.Butthisisnotsuchaconcernforolder/moreexperiencedemployees.
Amorecompetitivemarket.
Thepandemicmadeanalreadytrickymarketeventrickier.Remoteworkinghasopenedupglobalopportunities,andworkersaremoredemanding.
Skillgapwidened.
Thepandemicmadetheskillsgapevenwider.Whilethepandemicopeneduptheworldwithremoteworking,italsomaderelocationmoredifficult.
Risingbusinessunpredictability.
Theconstantlychangingenvironmentandprioritiesmadeithardtoforecastskillneeds.
7
02
Thenewhiringparadigm
Candidatesarereadytomoveon!
74%arehappywiththeircompanies’return-to-workpolicies,BUT...
53%areconsideringleavingtheircurrentrolewithinthenext12months
23%are
alreadyactivelylookingforanewjob
72%are
confidentin
theirabilityto
findanewjob
Thepandemicslowedthingsdown
51%
ofemployeesfeeldoubtabouttheirworksituation.They’reworriedaboutthestateoftheirwell-beingduringthepandemic,andthelackoffacetimehinderingtheirchancesofpromotion
66%ofGenZworkerssayremoteworkhasslowedtheirprogression
26%arealsochangingcareerpathsandgoals
81%madethedecisiontolookforanewroleduringthepandemic
Careerprogressionisapriority
Mosteffectivewaytoclosetheskillgapinthenext5years:
Skillbuilding50%
Hiring31%
69%
46%
ofrespondentssaythattheirorganizationsdomoreskillbuildingnowthantheydidbeforetheCOVID-19crisis.
ofrespondentsreportanincreaseinredeployingtalentattheirorganizations,whichmakesitthesecondmostcriticalactivityforclosingskillgaps
SOURCES
BeameryTalentIndexSecondEdition
InsightsfromtheMcKinseyGlobalSurvey1
InsightsfromtheMcKinseyGlobalSurvey2
TalentLifecycleManagement8
Theskillsgapexistedbeforethepandemic,butbusinesseshaveonlyfeltitmorekeenlysincethen.Demandfortechjobsalonewas
42%higher
inJune2021thanatthesametimein2019
,butthesupplyisnotkeepingup.
Morethanthree
quarters(77%)oforganisationsintheUKare
reportingtalentshortages
–thehighestinoveradecade,andclimbingeachyear–and
investment
inHRandtalenttechisatanalltimehigh
ascompaniessearchforthebeststrategiesandtoolstobridgethegapandkeepthecandidatesflowingin.
Employees’market:Partoftheissueisthatemployeesarenowbeingpresentedwithagreaternumberofexternalopportunities.HalfofallemployersintheUKplantoincreasetheirheadcountbytheendofthisyear,accordingtothelatest
ManpowerGroupEmploymentOutlook
Survey
,andremoteworkinghasopenedupglobalopportunities.Employeesnowhavemorechoice,and–nowexpectingmorefromemployers–canbemoreselectiveaboutwheretheychoosetowork.
Indeed,81%oftherespondentstoourlatestTalentIndexsaidthatthepandemicgavethemtimetomakethedecisiontolookforanewrole,withsomesoulsearchingalsoleadingmorethanaquarterofrespondents(26%)tochangetheircareerpathandgoals.Andthey’reoptimistic,too,withalmostthreequarters(72%)confidentintheirabilitytofindanewjobinthenextsixmonths.Theyfeelthattheyhavewhatittakestofindtheirnextjobandwillbemoredemandinginchoosingit.Ifemployeesdon’tfeelliketheirdevelopmentisbeingsupported,they’llmovetoacompanythatdoesitbetter.
Butwhatexactlyhasinspiredthisdesiretomove?Whilewefoundthat51%saidthat
theiremployershadbeensupportiveandhadprioritisedtheirwellbeingduringthepandemic,seedsofdoubthadcreptinasalmosthalf(49%)feltthelackoffacetimewiththeiremployersoverthelastyearhadhinderedtheirchancesofpromotiontosomedegree.Thiswasevenmore
pronouncedwith“GenerationZ”(peoplebornafterthemid-1990s)workers,withtwothirdsofthatgroup(66%)sayingremoteworkhadslowedtheircareerprogression.
Soeventhoughmanyhavefeltsupportedoverthepandemic,thetimetothinkhassharpenedtheirfocusonexactlywhattheywanttogetoutoflifeandtheircareer,andgiventhemahungertolearnnewthingsanddevelop.Talentteamshaveastarkchoice:youcaneitherchoosetohelpthemgetthere,orwatchthemwalkoutofthedoor.
Beyondhiring:Thismarketpresentsanopportunityforbusinesseswillingtotakeadvantageofit.Ifyoutakeaproactiveapproachtosupportinganddevelopingyouremployees,youcanhelpbothretainyourtalent,andhelpitdevelopintoareaswhereyouneeditinthebusiness.Thisalsoappliestoyouremployerbrandingapproach-bycommunicatingclearlyaroundyourinternalmobilityinitiatives,youareplacingyourselfaheadofthecompetitionintheeyesofthecandidates.
Employeesneedtohavetheroomtogrowandmovehorizontallyinyourbusiness–allthemoresowhentheyfeelthattheirdevelopmenthasbeenputonpausebythepandemic.
Thereisalsoalottogainbyrevampingyourapproachtointernalhiring.Ratherthanfocusingonexternalhiring,competitivetalentteamsarelookinginwardsandfocusingonreskillingtheirexistingworkforce.
Reskillingandinternalmobility,
nothiring,arenowseenbybusinessesasthe
mosteffectivewaystocloseskillgaps
overthenextfiveyears,with69%ofbusinessesdoingmoreskillbuildingnowthanbeforethepandemic,accordingtoa
recentMcKinseysurvey
,and46%increasingtheredeploymentoftalentintheirbusinessastheylooktocloseskillgaps.Yetwhilepluggingtheskillsgapisapriority,
onlyonethird
ofcompaniesareprepared
todoso.
TalentLifecycleManagement9
69%
Changesinactionsusedtocloseskillgaps,sincetheendof2019,%ofrespondents
BuildingSkillsRedeploymentHiringReleasingContracting
%PointDifference
*Respondentswhoanswered“nochange”or“don’tknow”arenotshown;n=700
Source:McKinseyGlobalSurvey
Buttalentteamsthatgetitrightstandtogainmuch.53%ofemployeesareconsideringleavingtheircurrentroleinthenextyear,and74%believethey’llbeabletomovetoanewrolewiththeircurrentemployer.
What’smore,employeeswhoseegoodopportunitiestolearnandgroware
2.9timesmorelikelytobe
engaged
atwork.Combiningthesefindingspromptsthequestion:withinthenextyear,areyoureadytoofferyouremployeestheirnextroleorareyouwillingtorisklosingthem?Inotherwords,doesyourtalenthaveafuturewithyou?
TalentLifecycleManagement
10
03
Anewlensfortalent
Toovercomethelastingchallengesofthepandemicandbridgetheskillsgap,youneedto
thinknotintermsofroles,butskills.Areyouthinkingaboutwhatskillsyouactuallyneed,or
areyoujusthiringmoreofwhatyoualreadyhave?
Skillisalensfortransparency.Itgivesyou,andyouremployeesandcandidates,greatervisibilityonwhereyouarenowandwhereyou’regoing.Focusingonskillsprovidesamorecompletepictureofeachindividualsoyoucanmanagetalentmoreeffectivelythroughthewholelifecycle–fromprospecttopromotionandbeyond.It’swhatwecallTalentLifecycleManagement.
Startingwithskills:Bybreakingdownthetalentmarketintoskills,ratherthanroles,yougetamoregranularunderstandingofbothinternalandexternaltalent,makinghiringanddevelopmentmoreeffective.Youcanseeinwhichskillsyourstrengthslieandwheretheweaknessesare,andsobetterpinpointandprioritisemission-criticalskillsandfigureouthowbesttoplugthegaps.Doyouneedtorecruitexternally,orcanyoudeveloptheskillsinternallywiththerighttraining?
Andareyouthinkingaboutwhatskillsyouactuallyneed,orareyoujusthiringmoreofwhatyoualreadyhave?
Itgoesbeyondjustthinkingaboutwhatskillsanindividualcurrentlyhas.Thefocushastraditionallybeendirectedtowardacandidate’syearsofexperienceandtechnicalskills,butthebestwaytowidenyourtalentpipelineistothinkintermsofpotential.Skillsyoucantrain,butit’shardertochangesomebody’sattitudesandbehaviours.Withaskills-basedapproachandaclearideaofhowyouremployeescangrowwithinyourorganisation,youcanstarttolookbeyondtheskillsthecandidatecurrentlyhas,andlookforwardtotheonesyoucanhelpthemdevelop.Youcanstarthiringforpotential,andtrainingforskills.
Sotakingaskills-basedapproachtotalentprovidesbothasnapshotintimeandamapoftrajectoryandpotential.Wherehavetheybeen,wherearetheygoingnext,andhowcanwehelpthemgetthere?
Andatatimewheneverycompanyiscompetingforthebestcandidatesinatrickymarket,evaluatingemployeesbyskillshelpsyourealisethetalentthatthey,andyou,alreadyhave.Itallowsyoutosourceanddevelopskillsinternallymoreeffectively,whichinturn
helpsto
retaintalent
.Youcanhelpyouremployeesseewhatskillstheyneedtolearntotakeonnewresponsibilitiesormoveintoanewrole,andofferabespokelearningplantohelpthemgetthere.
It’slikethejumpfrompapermapstoGoogleMaps.Ratherthantryingtomakeyouremployeesfigureoutwheretheyareandplottheirownroute,youcanassistthemontheirroutewiththerightdataandsupport,andshowthemtheskillstheyneedtojumpintoanadjacentrole.YoubecomeatalentGPS–arouteplanner.Youremployeeorcandidatescanchooseexactlyhowandwhentheywanttogetthere,butyoumakeitaseasyaspossibleforthemtofindtheway.
TalentLifecycleManagement11
TalentLifecycleManagement
Inaddition,evaluatingemployeesandnewhiresontheirskills,andpotentialtoupskill,insteadoftheirworkhistoryalsohelpsleveltheplayingfield–wideningyourtalentpoolsandachievingbetterdiversity,equityandinclusion(DE&I).Bystandardizingandassessingskillsobjectively,youcanfindthemostqualifiedcandidatesfortherole,notjustthosewhoaremostconfidentorbestatself-promotion.
Andtheskillsyouthoughtmostimportantforaparticularrolemightnotbe.Whenitcomestotechhires,forexample,theincreaseduseofAIandautomationmeansthat
employeesneed
morethanjusttechnicalskills
.Skillssuchascommunication,creativity,leadership,empathy,decision-makingandcriticalthinkingaremoreimportantthanever.These“softskills”havetraditionallybeenthoughtofassecondarytotechnicalfluency,buttheyarejustascriticalindeliveringlastingbusinessvalue.Indeed,theemployeeswhodobestinmanagerialandleadershippositionsareoftenthoseadeptatsuchskills.
Moreover,whenmorethan
40%ofworkersare
workinginalternative,non-permanentways,
focusingonskillsratherthanrolesgivesyoumoreflexibilityinfindingthebestwaytoclosethegaps–therearemoreopportunitiesforemployeesandmoreopportunitiesforemployerstofindtherighttalent.
Sotakingaskills-basedapproachhelpsunifyyourtalentefforts.Ratherthantalentacquisition,internaldevelopmentandDE&Ioperatinginsilos–focussingonskillsallowsyoutothinkaboutandmanagethewholelifecycleoftalent.Forinstance,youmighthitallyourDE&Irecruitingtargets,butfailtoactuallyincreasethediversityofyourworkforcebecauseyoudidn’tdoenoughtoretainthetalentyouhired.EveryaspectofyourtalentstrategyneedstobejoineduptosucceedandcatertothewholeTalentLifecycle.Onestrategytowardsonebusinessgoal:toattract,developandretainthebestpeople,inanwinclusiveway.
12
Thedatalens:Focusingonskillsismorethanjustawaytoquicklyplugskillgaps–it’sastepchange,whereaccesstonewdatamakesnewthingspossible.Bylookingatskills,ratherthanjustrolesandtitles,yougetamoregranularunderstandingofyourtalent,whichallowsyoutodesigntalentstrategieswithapowerfullensintotheabilityofyourbusinesstodeliveronthosegoals.
Itprovidesanewwayofthinkingaboutandreportingontalent.Youcanmovebeyondthetraditionalmetricsoftime-to-interviewandtime-to-hireandlooktothemorebusiness-alignedmetricsthatareallowedbyskills-basedandlifecyclemanagementdata–whatpercentageoftheworkforcehavewedeveloped?Wherearethegaps,therisks,theopportunities?HowlikelyarewetomeetourDE&Itargets?Areweontracktohiretoplan?
Bymappingskills–andthenewdatatowhichitgivesyouaccess–toyourcompany’sgoals,itmakesyourtalenteffortsmorestrategic,moremeasurableandmorealignedwithyourbusiness’sgrowth.
Data,then,isthefoundationforTalentLifecycleManagementandaskills-basedapproachtotalent.Withtherightdatayoucanpresentacompletepictureoftheskillsyourorganisationhasandtheskillsitneeds,givingyouabetterideaofwhatskillsyoucandevelopinternallyandwhichyouneedtohirefor.
Buttobeuseful,yourdataneedstofeedintoandintegratewiththerestofyourtalenttechstack,ideallybyfeeding
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