Talent shortages here to stay. Time to review your EVP.

Written By Sharon Spence

It’s time to check if your employee value proposition matches the expectations of your people

We’re all feeling the impacts of a talent market that is as tight as a very tight thing. And it's forecast to get even tougher before any relief is felt.

MBIE expects up to 100,000 Kiwis to leave in the next two years and it will be one to two years before skilled immigration starts to offset the exodus. Even that could be an optimistic timeline with job openings in major markets at record highs. We think talent shortages are here to stay for the medium term and the global competition for talent will remain fierce.

And we know that people's expectations from their organisations have shifted radically post pandemic.

New research reinforces this

Gartner studies conducted last year found that the EVP landscape has changed dramatically. They point to a fundamental shift in employee expectations, with three key value drivers emerging above the rest:

  • leading the way (85% rated as high importance) is wellbeing, defined as ‘working for an organisation that sees me as a person’

  • close behind is growth (at 77% = high importance), defined as ‘the opportunity to learn skills that make me more employable outside the organisation’, and

  • work flexibility, rated as a ‘must have’ by 51%

Have the expectations of your people changed? Are your talent attraction and engagement strategies focused on the right value drivers?

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