2022 talent market insights

Picture of Michelle Fotheringham

Michelle Fotheringham

CEO & Founder

3 min read

Werkling recently hosted a panel discussion to explore the 2022 talent landscape and get practical about where People & Culture and Talent teams should be focusing right now.

Michelle Fotheringham (CEO and Founder, Werkling) was joined by Darren Peiris (Head of Talent, Learning and Development – Australia, New Zealand, South Korea & Japan, The Kraft Heinz Company) and Paige Pomare (Head of Talent and Engagement, Who Gives A Crap).

Authentic, generous and innovative talent leaders, Darren and Paige shared some great insights with those who attended. For those who weren’t able to make it, here are our Top Five Takeaways.

Top 5 Takeaways

Take away 1: Unintended consequences of expensive new hires

  • Insight
    Employees are in the driver’s seat, and after years of little salary movement and the market now being in their favour, they are negotiating some pretty big bucks. While this might see you nab a star player, it can have unintended consequences on the rest of the team. A loss of internal salary relativity within teams can lead to disengagement and talent loss.
  • Action
    Be clear on your position in market and your remuneration philosophy
    Consider how expensive hires impact internal relativity and have a strategy in place
    Move away from only reviewing salaries annually or when employees become disgruntled, and towards a more proactive, real-time approach

Take away 2: You can’t fill a leaky bucket (especially when it’s the leader poking the holes!)

  • Insight
    People want to work for a great leader, not the “brilliant jerk” who might be technically great but is far from a strong leader. The ability to retain talent is a top business priority and the leadership capability within your organisation is a key retention driver. Ineffective leaders will cost you top talent and damage your brand.
  • Action
    Make the hard decisions. Leadership positions are for leaders.
    Get proactive and ask senior leaders to have stay interviews for critical roles/talent.
    Be clear on the role of leaders in the current talent landscape and discourage the reliance on band aid solutions like counter offers that will only work for short periods.

Take away 3: Careers, not jobs

  • Insight
    Employees are looking ahead and joining organisations to progress their careers over the next three to five years, not just for the advertised job. People want to see what’s possible and what the next role and the next role might look like.
  • Action
    Bring meaning to the immediate opportunity, share why it exists and what it offers from a career perspective
    Paint a clear picture of what is possible in the future, invite Employees to join the company not just the role
    Create an On-demand Talent strategy. While the nature of the work might be short term, the relationships and organisational impact are longer term.

Take away 4: Tap into talent communities

  • Insight
    Post and prey is not a talent strategy. Cold approaches to talent or posting traditional job advertisements is not enough in this market. Big wins come from community and providing space for talent to be vulnerable and transparent.
  • Action
    Curate your talent community; this might be Employee Talent who weren’t right for one opportunity but would be great at another or the creation of On-demand Talent pools
    Nurture top talent in your community and spend time getting to know them and their needs.
    Don’t put all your effort on external talent! Never stop talking to the people who are in the business right now.

Take away 5: Experiment with new work models

  • Insight
    Contract and fixed term roles are extremely challenging to fill, with talent now looking for either permanent roles or gig-based work. Organisations need to respond to these trends and adjust the way that they design and resource work.
  • Action
    Embrace the rise of portfolio careers and side-hustles, actively encourage Employee Talent to have other things in their life! Celebrate the success of their Etsy store or new coaching practice.
    Question if there will be enough movement to offer permanent employment to attract the best and ditch fixed term roles. Help upskill leaders and P&C professionals on how to design and resource gig-based work and tap into on-demand talent (ie freelancers, independent consultants, corporate escapees)

Wrapping up

So there you have it, folks! Thank you again to Darren and Paige for a great conversation. If you have any questions or would like to chat about these top topics, please reach out to hello@werkling.com or book a time here.