AS we emerge from the pandemic period, many companies have started to implement full working hours in office.
According to LinkedIn, in its Global Talent Trends report, economic uncertainty is forcing business leaders to wind back progress made during the pandemic on important areas of working life such as flexibility, employee well-being, and skills development.
LinkedIn said this is at odds with what employees want.
The report shows that flexible working, work/life balance and the opportunity to develop skills are what workers value most. There is a widening disconnect between what employees want and what companies are now offering.
We talked to LinkedIn’s country lead for Emerging Markets, Southeast Asia and Malaysia, Rohit Kalsy.
Q: Why are companies turning back what they have achieved during the pandemic with the WFH model?
A: LinkedIn’s recent research finds that the flexibility and freedoms many employees experienced during the pandemic are at risk as the economic pendulum swings and leaders consider how to respond. There is a growing disconnect between what professionals want and what employers are offering, with power shifting back to employers as hiring slows.
Flexibility has become a key determinant of employee satisfaction, as our 2022 Global Talent Trends report shows.
Professionals prioritise flexibility in the new world of work, including the option to work remotely.
According to global data, when employees are satisfied with their companies’ location and flexibility in their work schedule, they are twice more likely to report being happy (2.6x) and to recommend working for the company (2.1x).
Professional development and flexibility have traditionally been the first to go when times get tough, but they are crucial to attracting and retaining employees, and building diverse and resilient businesses that can adapt in a fast-changing world.
Companies that put the brakes on new ways of work, such as flexible working, even on learning and development, and other employee well-being initiatives, risk demotivating their workforce and pushing people to competitors that offer more attractive options.
Employers must give more compelling reasons for employees to return to the office rather than for policy. Companies can focus on results rather than facetime at the office as a performance metric. Giving employees clarity on what work drives impact is essential.
Business leaders need to maintain workforce connection and trust. LinkedIn’s C-Suite research reveals that 44 per cent of employers in APAC today encourage employee collaboration and knowledge sharing.
Q: Is the going back to office trend affecting workers wellbeing?
A: It is important for business leaders to know that people are a company’s most valuable asset, and maintaining employee commitment is vital to getting through times of uncertainty.
Motivated employees are key to gaining a competitive advantage and damaging that is a risk many can’t afford to take, particularly at a time when people are already being weighed down by other worries such as higher cost of living.
Employers have come a long way in earning the trust of their employees over the past few years thanks to progress around flexible working and prioritising employee wellbeing. That approach has transformed how people experience work for the better. Being empathetic to what employees value the most, understanding how it correlates to business performance, and finding ways to protect it is critical.
Q: What are some workplace trends for the new year in Malaysia and globally?
A: Organisations will redefine what constitutes a “quality” candidate. Every open position will be subject to extra scrutiny in the coming year. For those roles that can’t be filled internally, there will be heightened pressure to bring the highest quality candidate in the door – and that will force a re-examination of how to define “quality.”
Hirers have historically used degrees, experience at prominent companies, and professional networks as primary filters to find top-tier candidates. Labor-shortage struggles in recent years forced companies to widen their aperture, putting more emphasis on the skills needed to do the job. Some companies are now fully embracing a skills-first mindset, hiring generalists over specialists to have more flexibility in terms of what projects those employees work on.
Those who focus on the big picture when making hiring decisions will emerge from this challenging period as winners. They’ll take the long view, asking questions like: Are we hiring people with the right skills to support key growth areas? How do candidates’ preferences – around issues such as flexible-work arrangements align with what we can offer? Does the type of culture they’re seeking match up with ours? Taking all of these factors into consideration is extra work, but it has a big influence on how long people stick around.
Upskilling, flexibility, and mobility will be critical for the future of work. Globally, the skill sets needed for jobs have changed by around 25 per cent since 2015, and this number is expected to double by 2027.
In Malaysia, LinkedIn’s research shows that top skills for a particular job have changed by an average of 27 per cent since 2015, with the pace of change accelerating during the pandemic. At this pace, skills could change by close to 50 per cent (43 per cent to 47 per cent) by 2025. Between 2021 and 2025, we would likely see 3 new skills in the top skills for a job. By understanding the skills your employees have today and the skills your company needs in the future, companies can hire or redeploy talent into growth areas.
Q: How can Malaysian businesses prepare for a changing business environment?
A: In Malaysia, there is a long-standing issue of mismatch between jobs and skills, which means a person can be simultaneously overqualified and underskilled when the field of education does not correspond to the field of occupation. This is exacerbated by the widening skills gaps in a fast-evolving job market, and as digital transformation accelerates across businesses. If skills mismatch is not addressed, the full potential of the workforce will not be maximised.
Specifically, the rise of the digital economy in Malaysia has increased demand for digital skills among employees. According to our data, the top five fastest growing skills in Malaysia as of March 2022 are: Information Technology, Analytical Skills, Python (Programming Language), Machine Learning, and Technical Support.
Besides hard skills, local graduates and professionals with in-demand soft skills including in communications, critical thinking and problem-solving have also long been highly sought after by employers across industries in Malaysia. This reflects industry feedback on the lack of or poor soft skills in graduates and those who have recently entered the workforce.
Q: How is LinkedIn helping professionals navigate the current economic uncertainty?
A: To stand out amid a tough labour market and successfully attain job opportunities or secure one’s standing in a current job, professionals can leverage LinkedIn to do the following:
Create a distinct Profile: It’s all about authenticity you want your LinkedIn Profile to truly reflect you and where you’re at right now in your job search, experience, and passions. Make sure to include a Profile photo or Cover Video, and showcase your key strengths, skills (we recommend adding at least 5 on your profile!) and accomplishments in the Experience section to show a well-rounded view of what you bring to the table.
If you’re on a job search, share that you’re #OpentoWork: Turn on the #OpenToWork feature to signal that you’re open to new opportunities.
Highlight your accomplishments: Focus on what you’ve accomplished in each role instead of merely listing out your duties. Instead of saying, “I was responsible for managing the front office”, add tangible results and tout the fact that you “implemented a new filing system that increased productivity by 15 per cent”.
Invest in skills development: Whether you’re looking to update your skills in your current domain, make a career pivot to another industry or brush up the interview process.
Content is key to connect and broaden your network: Start and join conversations that are happening on your feed, among your connections, within your groups, and about the topics, news, people, and organisations you care about. This can range from insights on industry news to ideas for solving difficult professional challenges, from inspirational stories to connecting others in the community to incredible job opportunities. Creating and engaging with content will help shape your authentic and best first impression.
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