Build, buy or borrow? Talent strategies for a brave new world.
Prior to the COVID-19 pandemic, CEOs and HR leaders were already concerned that their talent strategies were ill-equipped to manage the displacement of workers caused by digital disruption and the (not so) future of work. Fast forward a few short months and we are now dealing with a global pandemic that is estimated to have reduced global working hours by 7%, equivalent to the loss of 195m full-time jobs.
In Australia, our relative success in managing the virus together with the JobKeeper subsidy has protected many jobs. However, JobKeeper is hiding some uncomfortable truths and we are likely to see a sharp rise in unemployment when payments cease.
CEOs and HR leaders will not have faced a challenge like this in their careers. How do we balance our response to the current crisis, from both a talent strategy and workforce welfare perspective, with long-term strategies that will prepare us for our rapidly evolving future?
This paper discusses some key strategies that will help you continue to invest in talent acqusition and management, while reducing your costs and strengthening your employer brand. We also provide links to helpful resources and calculators that will help you build your business case for reallocation of focus and resources to give you the talent agility you need to move forward.