Headcount freezes. Tech layoffs. How will you make the best of 2023 without a predictable headcount target? Read on for three little-known strategies that could give you the edge you’re looking for in terms of talent.
Mary Wellman
~ 4min read
~ 4min read
Headcount freezes. Tech layoffs. How will you make the best of 2023 without a predictable headcount target? Read on for three little-known strategies that could give you the edge you’re looking for in terms of talent.
Deja-vu, anyone? The post-Covid pendulum has started swinging back the other way, with many companies now axing remote work in favor of hybrid, or the familiar old 100%-in-person approach. Yet they could be leaving money on the table.
Fully remote work brings its own set of challenges, but for the companies that succeed in addressing them, it also brings huge advantages.
You’re not restricted to fishing in your local talent pool. You get broader diversity of thinking from people with different backgrounds and cultures. Often there are cost savings too because salary expectations vary in line with the local labor market.
Importantly, you will need to bear in mind the legalities of hiring workers in other countries. Relocate Magazine discusses the key legal considerations for a remote strategy and suggests making use of third-party expertise to plug the knowledge gap:
“Spryker, an ecommerce company which works with companies like Aldi and Toyota to deliver their ecommerce operations, has a fully remote global workforce, employing more than 650 people in more than 30 countries around the world.
“People & Culture VP Elise Mueller believes it is vital to tap into local expertise regarding laws and rights, and that being intentional about company culture is important in order for global teams to thrive.
‘We employ people in more than 30 countries and can’t possibly hope to understand the local market in each, so it is essential to identify local needs with the help of third-party providers,’ she says. ‘Local needs do not only refer to the individual needs of employees, which can often be assessed via personal conversations or surveys, but also to the legal framework. These vary not only from country to country but also in some cases within a country, such as the US’.”
Third-party providers such as these have proliferated since 2020, so hiring remote workers is more viable than ever before.
Who’d have believed it. Two years later the world is still talking about the Great Resignation. This time, among other things, related to the cost of living crisis.
Employers aren’t the only ones feeling plagued by the global uncertainty these days. Employees too are feeling the burn. With money worries never far away, it doesn’t take much to prompt someone to jump ship for a better (or even just different) opportunity to feel some sense of forward motion.
It doesn’t have to be this way. Underneath it all, everybody just wants to feel valued. Laying a path for employees to progress internally can make a huge impact in reducing staff turnover.
Does everyone on your team have a development plan – outlining a role promotion they could work towards, the performance milestones they’ll need to hit, and some learning objectives and tactics for achieving those objectives? If not, those people are a flight risk. It’s as simple as that.
The internal mobility problem is endemic, says HR Executive. They cite a study by iCIMS who make cloud-based HR and recruiting software:
“[M]ore tech-fueled internal mobility programs could be a boon for employers seeking to beef up retention. According to iCIMS’ study, 70% of workers do not know how to progress in their careers, and more than half think it’s difficult to find and apply to open jobs internally.”
As Laura Coccaro, chief people officer at iCIMS, concludes, “this clearly indicates that it’s up to employers to better define career development if they want people to stay and grow within their company”.
Not having access to the employees you need sure does look like an insurmountable blocker to getting stuff done at work. Luckily though, direct hiring isn’t the only way to resource your team.
Have you heard of hire train deploy? It’s an innovative talent development solution that’s growing in popularity because it gives hiring managers the control and predictability they crave.
Forget shouldering the entire burden of recruitment, risks and responsibilities as an employer (the triple R of doom). Not to mention the obstacle that there just isn’t enough skilled talent to go around. Instead, a hire train deploy provider can solve those problems for you, and the budget for this sort of service tends to sit in a different pot to the hiring pot.
That’s what we do at mthree. We find graduates with the attitude and aptitude to succeed in your team, we train them in the skills you need, and we support their ongoing learning throughout their time with you. At the end (typically after 2 years), you’re free to hire them as permanent employees if you wish. Our most popular pathways include software development, production support and banking services, but with the flexibility our program offers, anything is possible. Find out more about hire train deploy with mthree.
Now might be the moment to build or develop a relationship with your organization’s CFO. As the keepers of the keys, they could be the ally you need in introducing any new solution.
Raconteur shares some predictions for the strategic role of the CFO in 2023:
“Recent research suggests that there is indeed a shift in how CFOs work. The latest McKinsey Global Survey on the role of the CFO reports that today’s finance leaders are frequently involved in long-term strategy and management decisions, and two-thirds are involved in digital transformation.”
They also mention a report that’s due to be published in January, ‘The State of Business Spending’. Researched by business spend solution Pleo, it indicates that “97% of business decision-makers see a dynamic change in the CFOs influence across the business, particularly in operations, marketing and legal teams”.
What better moment to align yourself with a stakeholder who might not have been top of your list before?
Mary Wellman is a Senior Marketing Executive at mthree. She’s a marketing generalist who creates concise and useful content to help solve challenges for our clients. With a STEM degree, an MBA, and 30 years of B2B communication expertise, she is a seasoned business editor who spearheaded the digital transformation of five media brands and events. She understands how AI and information density shape the new business landscape.
We are excited to announce that we have been acquired by Inspirit Capital and returned to our roots as 'mthree'.
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