Technological change, digitalisation, artificial intelligence - we are already in the middle of it all
«It is not the strongest species that survives, nor the most intelligent, but the one most willing to change» - Charles Darwin
These words are not only to be found in the stairwell at HR Campus, but also reflect the current challenges of the labour market very well: we are at an exciting turning point in our world history, even on the verge of a technological revolution.
The current challenges on the labour market can be roughly divided into two areas: People & Technologies.
On the one hand, we are experiencing a shortage of skilled labour on a scale we have never seen before. The skills shortage index has risen by 68% to an all-time high of 155 points in 2022. Almost all sectors are affected, with the healthcare and IT sectors being hit particularly hard. The logical consequence is greater competition between companies for the remaining skilled labour. It is no longer just the employees who have to prove themselves in application procedures, but increasingly also the companies themselves. This is not just about attracting new employees, but also about retaining existing ones.
In addition, social changes towards inclusion and diversity are increasing the demands on companies. People are looking for more purpose-driven work, inclusive environments and want to work for companies that authentically embody the right values. If you look at the values of the infamous Generation Z, it quickly becomes clear that companies need to adapt in order to remain competitive. According to a study by McKinsey, remuneration is becoming less important, while meaningfulness, flexible working models and development opportunities are on the rise.
On the other hand, technology is changing so rapidly that even its inventors cannot always understand how they came up with their results. Google CEO Sundar Pinchai describes the extent of the changes very impressively by equating the influence of generative artificial intelligence with the human discovery of fire production. Companies must deal with these developments in good time and create the conditions to be able to adapt.
The key is to think holistically, act in a multidisciplinary way and use technology in the right places in order to:
In our talent blog series, we will look more specifically at the influences on talent management. Along the employee journey, we will shed light on current challenges and the resulting trend movements. Stay tuned for valuable strategies and recommendations for a successful employee experience.
You can look forward to contributions on the following topics:
Mathias has been involved in recruiting for over 10 years. In addition to advising companies on topics such as recruitment strategy and recruitment software, he has given guest lectures at Swiss universities and colleges on the subject of recruitment, published articles in specialist journals and is also involved in promoting greater diversity and inclusion in recruitment processes at companies in Switzerland.
Nathalie has a flair for HR development thanks to her seven years of experience in HR digitalisation. Taking psychological aspects into account, she helps companies to develop customised HR strategies to adequately address the individual needs of their employees. Her goal is to support companies in empowering their employees and promoting digital transformation in HR.
Published: 16. January 2024