The pandemic throttled the working population into a state of forced perspective. Professionals began to reassess priorities, workplace culture, skill set, and health as their work and home lives blended together as the way work gets done changed and continues to do so.
Low talent supply is already a reality in many industries and geographies today. A Korn Ferry analysis estimated a global talent deficit of 85.2 million workers by 2030, predicting a skills shortage that could result in US$8.452 trillion in unrealized annual revenue.
Employees are Leaving
In fact, 40% of the global workforce reported considering leaving their employer this year according to Deloitte. A record 4 million people quit their jobs in April, according to the Labor Department and nearly 3.6 million Americans resigned in May alone according to Gallup.
At the same time, the demand for skilled workers is growing, with seven in 10 employers globally saying they are struggling to find workers with the right mix of technical skills and human capabilities.
Employees want to be able to do their best work
Employees want to be able to take care of their families, their personal health, and thrive where they are most talented. As a result, employers are working to make policy changes, set goals, and listen to employees in order to retain talent that is quickly reaching for the door. An Adobe Workfront study found the percentage of the digital workforce that says being able to do their best work is more important than pay increased by eight points between March and December of 2020.
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