Having an existing and tight talent pool, exacerbated by the pandemic, leaves middle market businesses facing an unprecedented talent gap.
What do some thought leaders see as the future of staffing, and what are the strategies that can be used to create the workforce of tomorrow?
No sector is immune
Prior to the pandemic, the biggest talent gaps were in science, technology, engineering, and mathematics—the STEM positions—but now the gaps extend into broader areas of general business, particularly involving data or economics. New talent gaps are also emerging in sophisticated trades and in manufacturing and logistics with laborer jobs.
The largest talent gaps are “predominantly focused in areas where a specialized skill or expertise is needed.”
Jim Link, CHRO, Society for Human Resources Management (SHRM)
The new world of work
Workers have new expectations around remote work flexibility, work-life balance, and career development, including training, transferrable skills, and new experiences—and if they don’t get these things, they’re moving on. Company values and corporate culture are also increasingly important in a tight job market, particularly among younger generations in the workforce.
The organizations that are really leaning into all these different aspects—diversity, equity, inclusion, environmental, social and governance—will be seen as differentiators but will also be the most successful.
Natalie Runyon, director of enterprise content, talent, inclusion & culture, market insights at Thomson Reuters
Best of both worlds
For middle market companies, a powerful option to fill their talent gaps is a hybrid approach of upskilling and outsourcing. This lean model keeps in-house the key strategic roles that drive the business—hiring and upskilling as needed—but outsources non-core functions to experienced managed services partners.
The best areas to outsource are repeatable, non-value tasks where maintaining skills in-house brings more headache than value, like payroll, HR operations and compliance, employee relations, back-office functions like IT and finance, maintenance techs and other hourly workers.
Marni Rozen, director of management consulting – human capital, RSM US LLP
See related insights
