The job of a CHRO hasn’t ever been as daunting as in the past two years. Among others the war for talent remains the number one challenge that organizations are dealing with, leading to CHROs continuously reinventing their hiring strategies. According to the latest report by the U.S. Bureau of Labor Statistics, even though the number of job openings has decreased the number of voluntary separations or quits hasn’t changed much indicating that it’s still a candidates market. To circumvent the dearth of talent, many organizations are rethinking their hiring process, focusing less on hard skills, and recruiting lifelong learners. This is beneficial in any field where job skills are trainable; some examples include Cybersecurity, Tech skills, Management skills, and Banking. To this end, Education benefits help organizations mesh the element of learning into the benefits portfolio to recruit and retain top talent. Moreover, organizations use these benefits to engage and nurture their existing workforce which enhances employee wellbeing.
A growing belief among HR professionals is that prioritizing, upskilling, and reskilling internal talent is the key to tiding the wave of Great Resignation and Great Reshuffle. To support this, contemporary data from the Conference Board Survey indicates that Professional Development and Learning Opportunities can be pegged as the top Recruitment and Retention Strategy in 2022.
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