The quest to secure talent remains one of the biggest challenges being debated in boardrooms around the world, according to findings from Fidelity International’s first annual Global Employer Survey.
The survey of 1,000 senior leaders at multi-national companies reveals that talent development (48%), acquisition (47%) and retention (46%) are some of the main priorities global organisations are focused on, although crisis management and navigating Covid-19 is the biggest priority at 55%. Workforce diversity (47%) and the implementation of new technologies (47%) also feature highly in the list of priorities occupying senior leaders’ minds.
As companies continue to navigate global uncertainties, more than half of multi-national employers (55%) say crisis management – and in particular the need to address the impact of Covid-19 – remains their number one priority. This was especially true for non-US multi-nationals, with 61% still concerned over Covid-19 compared to 41% of US-based multi-nationals.
|10 most common current global priorities for multi-national corporations (%)|
|Crisis management / navigating Covid-19||55%||Talent Retention||46%|
|Talent Development||48%||Environmental Sustainability||46%|
|Workforce diversity||47%||Employee physical and mental well-being||46%|
|Implementing new technologies||47%||Remote / hybrid working||46%|
|Talent acquisition||47%||Employee Engagement||43%|
The study of multi-national companies also compares near-term trends (one to two years) between US-based employers and other markets. For US-based multi-nationals looking to the near future, the biggest priority is the ‘great resignation’.
However, for non-US-based firms, this data is different in terms of prioritisation, with implementing new technologies (49%), environmental sustainability (48%) and crisis management / navigating Covid-19 (47%) the top three concerns. This is then followed by talent acquisition (45%) and retention (45%).
|Top near future priorities for US-based
|Top near future priorities for non-US-based multinationals (%)|
|Talent Retention||46%||Implementing new technologies||49%|
|Talent Development||43%||Environmental sustainability||48%|
|Talent Attraction||41%||Crisis management / navigating Covid-19||47%|
|Employee physical & mental wellbeing||39%||Talent acquisition||45%|
|Employee benefit usage||39%||Talent retention||45%|
Dan Smith, head of workplace investing distribution at Fidelity International, said: “Our latest research into multi-national companies around the world has shown that Covid-19 is still a significant concern for many senior leaders. However, the threat of the ‘great resignation’ is also looming. While talent is a priority for both US and non-US-based firms, employee physical and mental wellbeing as well as compensation and benefits all feature in the top five priorities for US-firms, showing that measures are already being put in place to acquire and retain talent.
“For companies outside of the US, implementing new technologies and environmental sustainability are key areas of focus, along with navigating Covid-19 and/or crisis management. However, the fight for talent is becoming increasingly global as companies compete to attract – and keep – the best employees.”