It’s slowly becoming a freelancer’s world. According to Randstad Sourceright’s Talent Trends 2022 report, 25% of talent leaders have converted more permanent positions to temporary or freelance roles last year. “The shift to more contingent resourcing is not surprising”, Randstad adds. “Organisations just can’t hire fast enough. It’s also in line with the recovery in the staffing market, which witnessed a decline early on in the pandemic.”
The seismic shift to more freelance roles will continue in 2022, the research states. 71% of human capital and C-Suite leaders plan to shift roles to contingent, project or contract. That’s the highest percentage in the history of Randstad Sourceright’s talent survey, and a 15-point increase from last year.
‘A people-focused mindset’
The research surveyed more than 900 human capital and C-suite leaders across 18 markets. They found that business leaders are increasingly turning to a ‘people-focused mindset’, prioritising talent experience to combat the scarcity they face. While one in four human capital leaders say talent scarcity is a ‘major pain point’, 53% are still planning to hire extensively this year.
“The pandemic may have brought forth the Great Resignation, but it also allowed many leaders to re-examine the relationship between people and their employers.”
Business leaders are more focused on talent experience than ever before, the report states. “The pandemic may have brought forth the Great Resignation, but it also allowed many leaders to re-examine the relationship between people and their employers”, the report states. “Specifically, they are hoping to create more mutually beneficial interactions that drive both greater job satisfaction for their people as well as innovation and productivity.”
Flexibility will be key to attract talent
Flexibility looks set to be the common denominator in the way organisations will aim to attract and engage talent. 86% of leaders see policies, such as flex schedules and remote working as the way to go. “These companies realise that people, more than ever, want more control over their lives”, the report states. “Especially when it comes to work and how they spend a large part of their day.”
“Companies will need to identify what kinds of flexibility matter most to their people and find new ways of working to accommodate [that].”
Among the various strategies implemented, 88% say sign-on bonuses are effective, followed by flexible work arrangements (86%), increasing pay (83%) and engaging in contingent talent (83%). “With millions of people quitting, taking retirement and staying out of the labour market all together, companies face a daunting task ahead. They will need to identify what kinds of flexibility matter most to their people and find new ways of working to accommodate [that]. While also meeting the needs of the business.”
Read more:
- The true state of freelancers in Europe: less self-employed workers, but critical for the future
- How can you improve Total Talent Management in your company?
