While it is possible to turn the global talent crisis into a business-boosting opportunity, there’s no denying that sourcing the right people for your organization is tough right now.
With a serious shortage of talented professionals across just every sector imaginable—the kind that offers a real return on hiring investment—HR professionals are quite literally being run into the ground.
The global talent crunch: the fall of digital dominos
Initially catalyzed by the COVID-19 pandemic, a seismic shift towards flexible digital working (as a ‘new normal’) saw droves of talented professionals leave their current roles for ‘greener pastures.’ Coined The Great Resignation, this event saw some 47 million Americans quit their jobs in 2021 alone.
Some migrated to exciting new digital roles, while others ventured out on their own to set up business, retire early or do something a little more vocational.
In addition to The Great Resignation, shockingly high staff turnover rates, significant industry changes, and the constant evolution of technology have all set the fall of digital dominos in motion—the proverbial dominos that caused the global talent crunch.
The global talent crisis isn’t going away anytime soon, and in a bid to source, train, and retain professionals with the skill sets necessary to steer their organizations to success, HR executives are really feeling the pinch.
“What we need to do is change the culture through better design.”—Jake Orlowitz, Head of the Wikipedia Library
Rising Burnout and stress among the HR
The most progressive of organizations value the mental health and well-being of their employees. Within these companies, HR professionals are the frontline when it comes to providing the best possible employee experience across the board.
As part of the employee experience, HR professionals develop policies to ensure every employee in the business has the tools, time, and resources to remain happy and healthy when working. But what about the HR professionals?
In an age where 73% of potential employees are currently looking for a new job passively at best, our friends in HR are working double hard to source professionals with the right talent for a variety of essential roles and attract them to the business.
This continual juggling act is causing a level of pressure that is leading to burnout, stress, and a raft of mental health struggles.
It may be true that 94% of leading HR professionals believe that by offering sustainable mental health resources will improve the overall health of their employees—but again, who is helping the leading HR pros?
Spearheading innovative mental health and wellbeing initiatives in the midst of a global talent crunch is taking its toll on those working in HR.
A study from Workivo discovered that 98% of HR professionals navigating today’s global talent crunch are experiencing genuine workplace burnout. According to the same survey, a whopping 74% of HR pros also state that they feel undervalued as well as undersourced.
There’s an irony in the fact that those responsible for developing health and wellbeing initiatives are so overstretched that they can’t benefit from their own policies. Big changes need to happen soon or organizations across sectors will crumble at their foundations.
Read: 8 Things Employers Must Know To Navigate Hiring and Talent Retention in the New Reality for a deeper dive into mental health in today’s digital workplace.
Helping our HR heroes during the global talent crunch
As you well know, the role of a HR professional extends far further than emailing a few potential candidates or hosting meetings between mildly disgruntled employees alone.
HR executives are the gatekeepers of company culture and the talented professionals responsible for, well, attracting and retaining a steady flow of talent to push their organizations ahead of the pack.
But, with a serious lack of skilled professionals across sectors, sourcing talent really takes its toll. Senior decision makers running modern organizations must ensure the policies and resources available to HR professionals match the gravity of the task they face in today’s skill-stunted digital age.
In addition to offering HR professionals additional well-being time to recharge and reset, companies must provide the right tools for the talent hiring process.
By consolidating and automating a variety of time-consuming tasks related to the hiring and onboarding process, our HR heroes can focus on attracting the best possible talent for a variety of pivotal roles without experiencing burnout.
Gaining access to the right global hiring platform will empower HR professionals to source, onboard, and nurture talented professionals with maximum efficiency, creating a culture where everyone has the tools as well as the support they need to thrive within the business.
Armed with the right tools for automating pivotal parts of the hiring processes as well as the insights required to make informed hiring decisions, HR professionals can improve their performance without suffering serious personal consequences.
Supporting the mental health of HR managers worldwide
We dug into this analysis by the Integrated Benefits Institute, which basically says that remote work has been linked to higher anxiety and depression symptoms at 40% when compared to in-person work (35%). With this in mind, and because helping build distributed workforces is our bread and butter, we’re making a significant investment in the improvement of mental health—for HR Professionals, business leaders in general, and global workforces.
Multiplier has partnered with Intellect, making us the first EOR to offer a mental health program.
Partnering with Intellect, we will be able to reduce stress and anxiety for hybrid and global workers in today’s ever-evolving and challenging landscape of work.
Intellect’s mental wellbeing solution will be made available to employees hired through Multiplier, giving them access to free resources and 1-1 sessions with trained coaches, counsellors, and psychologists who can cater to the full spectrum of mental health – from everyday support to immediate clinical intervention.
What’s more, Intellect’s self-care app available in 17 languages and a provider network based in 20 markets, the platform is fully capable of supporting Multiplier’s clients with remote workforces all across the Asia Pacific region.
“At Multiplier, our commitment to the well-being of our global network goes beyond employment. We understand the importance of mental health, especially in today’s world,” remarks Sagar Khatri, CEO & co-founder of Multiplier. “Partnering with Intellect allows us to provide comprehensive and culturally relevant mental wellness support, ensuring our employees and clients have the resources they need to thrive in both their professional and personal lives. We are proud to be pioneers in integrating mental wellness into the Employer of Record landscape”
Let’s chat more about unlocking the benefits of Intellect for your global workforce.
“Quality of life and wellbeing have become the top priorities for office workers, even above salary, which is now in third place. To attract and retain top talent, businesses must be seen as somewhere that supports employee health and wellbeing.”—Josh Jackman, Operations Director, ART Health Solutions
We live in an age where tech moves faster than the speed of sound (more or less). By investing in tools like Multiplier’s HR management solution, you can broaden your talent pool during the crunch while making a host of once-laborious tasks swift and seamless.
It’s time to take charge of your HR team’s mental health and well-being before your company falls flat. Place greater value in your HR heroes, give them more professional breathing space, offer the best tools for the job, and you will tackle the global talent crunch without running your best talent into the ground.
For more insider insights, read our essential guide to the vital importance of employee development.