WEF_Future_of_Jobs_2023

As presented in Figure 5.4, businesses consider improving talent progression and promotion

processes to be the most promising way to increase the availability of talent in their organization.

In fact, 48% of respondents identified this business practice, with particularly high response rates in

the Automotive and Aerospace and Production of Consumer Goods sectors.

Thirty-five percent of respondents identified offering higher wages as an effective route to increasing

talent availability, particularly in the Government and the Public Sector Yet, this response was selected

by less than half the global rate in the Chemical and Advanced Materials sector.

While 81% of companies consider investing in learning and on-the-job training to be a key strategy

for delivering their business goals (see Figure 5.2), only 34% consider providing reskilling and upskilling

to be a way to increase talent availability specifically.

Ranked the fourth highest business practice, executives see the link between articulating

business purpose and impact with higher talent availability. This is particularly prevalent in Indonesia

(38%) and Japan (38%), as well as the Finance Services and Capital Markets industry globally

(35%).

5.2 Ta l e n t a v a i l a b i l i t y a n d re t e n t i o n

Improve talent progression and promotion processesEmployability and learning culture

Offer higher wages

More diversity, equity and inclusion policies and programmes

Improve internal-communication strategy

Offer more remote and hybrid work opportunities within countries

Better articulate business purpose and impact

Provide effective reskilling and upskilling

48.1%

35.3%

33.7%

24.4%

20.5%

18.9%

18.3%

Health and wellbeing

Health and wellbeing

Diversity, equity and inclusion

Flexibility and protection

Flexibility and protection

Employability and learning culture

Flexibility and protection

Fairness on wages and technology

Support employee health and well-being

Improve working hours and overtime

Ta p p i n g i n t o d i v e r s e t a l e n t p o o l s

Improve safety in the workplace

Offer more remote work across national borders

Remove degree requirements and conduct skills-based hiring

Supplement childcare for working parents

Support worker representation

18.0%

14.7%

10.1%

8.1%

8.1%

6.3%

2.9%

1.2%

Fairness on wages and technology

Employability and learning culture

Health and wellbeing

Flexibility and protection

Cross-cutting Enablers

Improve people-and-culture metrics and reportingCross-cutting Enablers 18.3%
Diversity, equity and inclusion

FIGURE 5.4 Business practices to increase talent availability, 2023-2027

Source
World Economic Forum, Future of Jobs Survey 2023.

Share of organizations surveyed that identify these business practices as promising ways to increase talent availability in the next five years

In fact, possessing an effective employee training programme is seen as the top talent-attracting

policy available to businesses in the Business Support and Premises Maintenance Services;

Employment Services; Insurance and Pensions Management; and Research, Design and Business

Management Services industries, though only 17% of the Mining and Metals sector see this

as an effective way to increase talent availability. Across the board, effective training opportunities

are seen as more attractive to prospective talent than well-communicated impact; remote and hybrid

work; DEI policies; supporting employee health and well-being; improving working hours; tapping into

diverse talent pools; skills-based hiring; childcare support; or support for worker representation.

Although, globally, only one-third of companies identify a robust training dispensation as attractive

to prospective employees, this figure rises to 40% among SMEs.

Future of Jobs Report 2023 53