Ceridian, a global leader in human capital management (HCM) technology, has released results from its latest Future of Work report, which examines the strategies and priorities shaping the future of work among executives globally.
Polling 2,000 senior leaders globally at the managing director level or higher, the report says:
• The majority (53%) of executives say they will increase the size of their team within the organization in the next 12 months, with 35% leveraging gig workers to do so. One of the main drivers for increasing team size is the need to respond to demand for services (56%).
• Looking ahead, 71% agree they will hire more remote employees in the next two years, with 63% agreeing that they will hire outside of their country.
• As the gig economy model goes mainstream, the majority (62%) agree that freelance or gig workers will substantially replace full-time employees within the next 5 years.
“As the competition for talent heats up, employers will need to come to terms with the fact that the power dynamic has shifted in favor of the employee, and the idea of employer exclusivity is quickly becoming a relic of the past,” said Steve Knox, Vice President of Global Talent Acquisition, Ceridian. “One trend we’re seeing is that talent – even those working as salaried, full-time employees – is beginning to embrace the tenets of the gig economy, seeking roles for shorter periods of time with multiple organizations. We believe this approach to work life will become the norm, and the data shows that employers are already beginning to adjust their recruitment and talent management strategies accordingly.”
The findings also showed how the post-pandemic workplace may be configured, with many executives maintaining hybrid and remote work arrangements. Executives said 27% of their workforce will utilize remote work post-pandemic, while nearly one-third (29%) of their workforce will utilize a hybrid model, alternating between remote and a physical location. Meanwhile, only 38% of their workforce will utilize a physical location.
AI driving rapid reinvention of recruitment strategies
As employers ramp up efforts to replenish the ranks in response to rising demand, many are embracing the latest technology to enhance the recruiting processes, including screening, shortlisting, and identifying top candidates. In fact, 46% of executives plan on using AI tools for recruiting and talent management, while another 42% are already doing so.
“AI has become a very powerful tool for recruiters globally, as it allows employers to make more accurate, efficient, and fair talent decisions, which is especially important now given that competition for talent and the need to make quick hiring decisions has never been higher,” added Knox.
Recently, Ceridian reinforced its commitment to AI-enabled talent recruitment strategies through its acquisition of Ideal, a leading talent intelligence software provider based in Toronto, Ontario. Ceridian’s customers can access data-backed insights to make smart, fair, and efficient talent decision-making and improve equity throughout their entire organization.