I recently stumbled on an excellent video by the CRF Institute (which you can watch below). A well crafted and thoughtful presentation it illustrates the challenges facing organisations as we go into the new decade.
The labour market is in flux as we are still coming out of a recession with the CIPD predicting more job losses through the next quarter. However, the economy will shift and this doesn’t detract from the bigger picture of just how much the talent pool will be changing in the next ten years.
Employer branding has never worked in isolation and nowhere is this more evident than in workforce planning – a priority for any organisation looking to manage its talent pool beyond next week. In the current economic climate this may not be top of everyone’s list, but as this neat presentation shows there is a challenge here because our working population is changing due to the outflow of Baby Boomers not being matched with the inflow of new talent. This is going to result in a gap that can only be addressed through employers attracting and retaining the right mix of Baby Boomers, Generation X and Generation Y.
Flexibility is stated as the key solution, but simply this is recognising that individual target groups have different needs and motivations – something that organisations should already be doing.
When I’m asked about Employer Branding it is sometimes seen as a one-fits-all solution, but any population – including an external recruitment audience and an organisation’s own employees – is varied with various subsets of that population requiring different needs. This is why research is so important because you have to understand each group in order to engage with them appropriately.
There are some interesting statistics incorporated into the video, but understanding the motivations of each group and communicating with them in the right way is the key message in addressing the demographic influences that will shape workforce planning through the next decade.
Click below to view the video