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In the current hiring landscape, successful employers must pull off an incredible balancing act by expanding their candidate pools and the diversity of their applicants, streamlining their processes, and improving the candidate experience.

There was a time when the word “retirement” conjured up images of gold watches, golf clubs, gardening, and grandchildren. From the perspective of businesses, it was a defined event, often occurring when employees hit a certain age. For individuals, it was a rite of passage, generally signaling the culmination of one’s career. Embarking upon a life of leisure was the well-earned reward for decades of service. Not anymore.

Bring in new talent and hold onto the talent you have by increasing salaries and bonuses, as well as investing in upskilling employees and building a more positive workplace culture.

Experience tells us that overpaying for talent, and making rash hiring decisions, will ultimately come back to haunt you. In a highly competitive global talent market like this, how are companies supposed to compete without breaking the bank?

How to use talent assessments to understand your organization’s talent

Learn how to create a future-proofed worker who can learn and apply new skills, embrace new mindsets, and assist in creating new cultures.

It’s time for a new approach to talent. Organizations must shift their talent strategy approach from a replaceable to renewable workforce.

Our survey showed that 60 percent of hourly and non-exempt employees were not offered any kind of outplacement support when impacted by layoffs. Why do so many organizations neglect their most vulnerable workers – the people who need outplacement support more than anyone else?

Coming out of the pandemic, some organizations will lead in human capital management by treating their talent as a renewable resource. Others will lag, focusing on wasteful layoffs. This is the moment to position your organization for the future of work by prioritizing employee development and skill development.

COVID-19 is reshaping recruiting and hiring strategies. Josh Brenner, CEO of Vettery, highlights how digital recruiting, remote hiring, and data-driven recruitment are revolutionizing the industry, addressing job market trends, the talent shortage, and why the future of recruitment is bright. As businesses adapt to these changes, leveraging tools like virtual interview platforms and people analytics will be key to building resilient hiring practices.

The future of work demands a renewed approach to talent management. Organizations must adapt to hybrid work models, prioritize employee experience and well-being, and invest in upskilling and reskilling. By fostering a culture of diversity, equity, and inclusion, organizations can build a renewable workforce that thrives in the face of change.

Adopting a long-term view of human capital investment is key to ROI. By investing in employee career development, upskilling, and strategic workforce planning, businesses can enable talent mobility and build a future-proof workforce ready to meet tomorrow’s challenges.