According to the survey, only 5 per cent of the Singaporeans surveyed felt their employers’ support measures during the pandemic crisis were inadequate. This is something positive to hear. However, experts are predicting that the coronavirus pandemic could result in a 'talent exodus'.
Now that COVID-19 is driving towards the end of the tunnel, while businesses can get back to normal, the market has started to pick up. While there was a slowdown in H1 2020 due to pandemic, all businesses are keen to speed up for chasing back the missing time.
At this critical time, HR and recruitment experts are increasingly concerned that businesses will face a further crisis in the shape of talent acquisition and retention in ‘the new normal’.
CEOs Concerned About Lack of Talent Even before Pandemic
Anxiety about the workforce is not new: PWC's latest Annual Global CEO Survey found that 80% of CEOs are either extremely or somewhat concerned about their organization’s ability to access skilled labour in the future.
Learning from Covid-19
It is important to realise, the Covid-19 pandemic accelerated the problem of lack of talent:
- High-quality employees are more essential than ever, as businesses prepare to recover and relaunch
- The lockdown period has given many workers a new level of clarity about their work-life dynamic
The result could be a mass exodus of talent post-pandemic.
Download Report: Avoid a Talent Exodus
Great businesses understand the importance of keeping their employees for a long time. In doing so, they don’t have to regularly spend the time and money necessary to replace employees — which could devastate their bottom lines.
Our latest 15-pages guide gathers some tips on how to avoid talent exodus post-pandemic. Download our report to discover the tips including:
- Communicate effectively with your employees
- Use transparency to encourage employee engagement
- Adapt to changing employee needs
- Provide support and authority
- Foreground meaning and plan for the long-term
Lockdown your top talent
In order to get the business running, talent is always the key. Contact us to identify your talent gap.