The Great Work Reshuffle: How companies need to adapt to a changing world
The Great Work Reshuffle: How companies need to adapt to a changing world

The Great Work Reshuffle: How companies need to adapt to a changing world

It’s no surprise that the job market has undergone a massive transformation over the past years. The pandemic, the rising inflation, layoffs and now predictions of a possible recession have fundamentally altered the way we live and work. Some businesses are still scrambling to adapt to these new realities, and one can’t really blame them for the low speed.

This “great reshuffle” has seen employees re-evaluating their priorities, companies reassessing their business models, and industries experiencing unprecedented upheaval.

As Gartner points out: “organizations face historic challenges: a competitive talent landscape, an exhausted workforce, and pressure to control costs. In this environment, it’s imperative to tackle the following nine trends as your organization sets strategic workforce and talent goals.”

In this article, we’ll explore how companies need to adapt to this changing world, what the future of work might look like, and what skills and strategies you’ll need to stay ahead in the new economy.

Quiet hiring: the other side of the coin.

We’ve all heard about “quiet quitting”. In the last year, it’s been the talk of many companies and their employees. But as times are changing so should companies’ approach to them. This is how a new concept, “quiet hiring”, has started to gain ground – as a countereffect, as a form of solutioning.

Quiet hiring means taking care of your already existing talent and finding new ways of creating a better and suitable working environment for them. Instead of constantly bringing new additions to the team, companies could focus on how to keep their employees happy and encourage them to thrive.

Gartner offers some suggestions on how to achieve this:

  • focus on internal talent mobility to ensure employees address the priorities that matter most without changes in headcount;
  • stretch any upskilling opportunities for existing employees while meeting evolving organizational needs;
  • alternate approaches, such as leveraging alumni networks and gig workers, to flexibly bring in talent only as needed.

From permanent work to collaboration: the gig workforce.

For many businesses, the new realities have changed entirely the way they function and how they deal with a countable number of problems. The not-so-bright financial results have pushed many companies to take a closer look at the number of employees and some of them (see Meta, Amazon, Tesla) have created genuine waves of layoffs.

In some cases, though, companies should be able to avoid the process of layoff by hiring gig workers. These are independent contractors, freelancers and contract firm workers who can be engaged in a temporary employment relationship and provide project-based, on-demand labor.

By choosing to hire gig workers, organizations can adjust headcounts based on business requirements, access niche skills and quickly fill talent gaps. And this solution is on a really encouraging upward trend, as gig workers represent approximately 15-25% of the global workforce today and by 2025 they will account for 35-40% of the workforce, according to Gartner.

The new way of hiring: Ability rather than experience.

As unusual as it might sound to hire new talent based on the ability to do the job rather than the previous experience, today’s buoyant working environment is pushing companies to adjust their way of thinking.

With 56% of candidates reporting to apply for jobs outside their current area of expertise, and the numbers are expected to grow in the coming years, hiring new talent needs to get an upgrade.

In order to adapt to the changing landscape of work, organizations must be willing to evaluate job applicants primarily based on their performance potential, rather than relying solely on their academic qualifications and previous job experience. It is crucial to challenge traditional assumptions about job requirements and qualifications, particularly in light of the rapidly evolving job market.

Managers need support.

Managers are struggling to cope with the demands of the current work environment too. They are facing tons of requirements to balance competing pressures from both senior leadership and their direct reports.

On one hand, they are expected to implement the company’s hybrid work policies and strategies, while on the other, they must also provide their employees with a sense of purpose, flexibility, and opportunities for career growth.

Gartner experts pinpoint that 60% of hybrid employees say their direct manager is their most direct connection to company culture. This emphasizes even more the importance of assuring the management line has all the support it needs.

Organizations should have a clear plan and provide fresh support and training to mitigate the widening managerial skills gap, how to allocate their time effectively and identify opportunities to modify their roles as needed.

Hybrid work or no work

As we dive deeper into the 3rd year of post-covid, the working environment is writing more and more of its own rules. In the opposite corner, the organizations are left to adapt, or lose talent, as more and more employees are looking for hybrid work or no work at all.

Several studies show that after experiencing the flexibility of remote work, many employees are reluctant to be tied to their desks for a full eight-hour workday. The benefits of reduced commuting time and the ability to adjust their work schedules to non-traditional hours have enabled employees to enhance their work/life balance.

McKinsey offers 5 directions on how organizations can cope with hybrid working:

  1. Expand executives’ focus on strategic clarity, coaching, and empathy.
  2. Foster outcome-based management of small, cross-functional teams.
  3. Increase talent velocity, especially with reskilling.
  4. Find new zero-cost, high-optionality ways to collaborate.
  5. Increase the rate of technology adoption.

Seems like organizations have their hands full once more. The game of thriving nowadays is not just about discovering and adopting new technologies, the automation process, or leading sustainable businesses.

As the world of work continues to evolve, companies must embrace change and adapt their working environment to meet the needs and expectations of their employees. By prioritizing flexibility, inclusivity, and innovation, organizations can create a work culture that attracts and retains top talent, fosters employee engagement and productivity, and positions them for long-term success.

As different as the workplace looks now from only 3 years ago, moving forward companies and professionals alike can only thrive if they embrace change and take bold steps to create an environment that supports their employees in achieving their full potential.

As a company, we too understand that adapting to change is crucial to success, and we’re constantly working towards achieving these changes ourselves. We’re also committed to attracting and retaining top talent, and we actively seek out teammates who share our values and are excited about the opportunities we offer.

If you’re interested in joining our team, we encourage you to visit our career page and explore the many opportunities we have available. Together, we can create a workplace that supports the growth and success of both our company and our employees.