Predictive Success Blog

Firms continue to struggle in this hyper-competitive labor market. The uncertainty and pace of change in the world are pushing companies to innovate how they supply their workforce. But many are overlooking a vital resource that might help them navigate this difficult era more smoothly: their current employees.

Our supply of talent will become even more constrained in the coming years. The Pew Research Center estimates that 1.1 million more people retired than expected in 2020, while Bureau of Labor Statistics data show that 2.4 million women dropped out of the workforce during the first 12 months of the pandemic. The number of 18-year old’s joining the workforce is also shrinking.

The best way for businesses to guarantee that they have the workforce they need for now and the future is to become better at identifying and developing their own talent as well as continuously enhancing the skills of all their employees. Keeping the right talent and skills in supply will be more crucial than ever to ensure business results are delivered. Organizations will need to embrace flexibility and create opportunities for employees to move around, gain new experience and apply their skills.

Thanks to tools that identify, track, and match your internal talent to upcoming opportunities developing an agile talent pipeline that will allow your people to grow and change with the business have become less of a challenge. Instruments like The Predictive Index measure an individual’s drives and needs in a way that helps predict workplace behavior. Having this insight will allow you to hire candidates who are hardwired to be a great fit, design teams that perform like magic, and manage employees in a way that pushes them to perform at the top of their game. Combined with The Predictive Index Software, you can also define job requirements, identify ideal candidates for open positions, align teams to accomplish business goals, and effectively inspire employees for optimal results.

With the lack of talent available, the costs and investment necessary for firms are reasonable since they’ll gain a consistent, sustained supply of exceptional talent.

About Predictive Success

Predictive Success is an Elite Partner of The Predictive Index® has been consistently ranked in the top 10 of global partners since opening its doors in 2006. Through the Predictive Success team of experienced, professional consulting staff, we give Canadian companies the ‘edge’ to connect people to profit. We work with management teams to bring our knowledge, experience, and over a decade of partnership with The Predictive Index to work. We enable leaders with the power and the knowledge, to better motivate, lead and utilize people to the best of their ability. We have staff and local coverage in all provinces across Canada.

References:

https://hbr.org/2021/11/manage-your-talent-pipeline-like-a-supply-chain