Page 12 - Bus365 Issue 11 2021 WEB
P. 12

ISLAND BUSINESSES SET TO BATTLE


           FOR TALENT                            BY ALINE AYOTTE, HEAD OF COMMERCIAL BANKING
                                                 HSBC CHANNEL ISLANDS AND ISLE OF MAN
           Businesses across the world face a battle for talent as they look to unlock future growth opportunities
           through a hiring drive, according to new research from HSBC – and as IFCs in a global marketplace,
           Jersey, Guernsey and the Isle of Man are not immune to that trend.
                ew insights from HSBC’s latest Navigator   by 46% of business leaders, factors such as   impacts on employee wellbeing noted
                research on The Future of Work show   fl exible working policies (39%) and emphasis   as the top benefi t of a remote or hybrid
          Nthat sti  competition for talent means   on employee physical, mental and fi nancial   approach;
           companies are having to diversify how they are   wellbeing (36%) are set to become just as   •   As a result, the most popular future
           attracting and retaining sta , as they seek to   important for employees.   workplace option for businesses is a ‘fully
           achieve their high growth ambitions over the   •   In response, business leaders are   fl exible’ approach to remote working –
           next 12 months.                                                         where employees can freely determine
                                                 reimagining the future of the workplace
                                                                                   whether they go into the o  ce / are onsite
           The research polled over 2,100
                                                                                       – with a third of businesses (34%)
           business leaders from 10 global
                                                                                       planning to implement this policy;
           markets and found that companies
           expect their workforces to                                                  Aline Ayotte, Head of Commercial
           increase by an average of 13% in                                            Banking at HSBC Channel Islands
           the next 12 months, with two in                                             and Isle of Man, commented:
           fi ve (42%) businesses planning
                                                                                       “Global businesses face a battle
           to increase headcount by 20%
                                                                                       for talent as they look to grow
           or more. However, companies
                                                                                       by investing in people. Business
           are facing a battle for talent, with
                                                                                       leaders are responding by
           seven in 10 (70%) globally planning
                                                                                       enhancing the ways in which they
           to increase headcount, while just
                                                                                       are attracting and retaining their
           12% of businesses plan reductions
                                                                                       people, including non-fi nancial
           to their workforce.
                                                                                       factors such as wellbeing, fl exible
           Succeeding in the battle for talent   Aline Ayotte, head of commercial banking HSBC   working policies, and training and
           will be crucial to driving long-   Channel Islands and Isle of Man          development.
           term profi tability. Three quarters
                                                                                       “Businesses in the Channel
           (77%) of businesses see a ‘strong’
                                                                                       Islands and Isle of Man should pay
           relationship between investment in
                                                                                       attention to these trends – as IFCs
           workforce and profi tability, as they target almost
                                                 and how they think about empowering   competing for skills in a global marketplace,
           20% revenue growth on average over the next
                                                 their employee base, with the research   they need to respond accordingly if they are to
           12 months.
                                                 showing:                       attract and retain talent and meet their growth
           To take advantage of the growth potential,   •   Remote working is here to stay: Two   objectives. The pandemic has shifted work
           seven in 10 (69%) businesses are already   thirds (67%) see remote/hybrid working   patterns and the expectation of what employees
           investing in their workforce in some way,   as crucial to enabling the enhancement   across the globe want from their jobs, so not
           through hiring, upskilling, or training, with a   of future growth, while just one in 20 (5%)   only are businesses adapting their working
           further 28% planning to do so in future.   businesses believe that they will not see   arrangements and enhancing support for sta
                                                 any form of remote working in future;  as part of their bid to attract top talent, but also
           As competition for talent intensifi es, the
                                              •   Flexibility seen as big boost for wellbeing:   to incentivise their sta  not to look elsewhere.
           research shows leaders are taking action and
                                                 Four in 10 (39%) business leaders
           reacting to the demands of the workforce                             “With the pandemic putting corporate purpose
                                                 believe o ering sta  a fl exible working
           beyond fi nancial incentives, placing strong                          on centre stage, we expect businesses to
                                                 arrangement – where employees are able
           emphasis focused on wellbeing and work-life                          increase investment in their sta  as they look to
                                                 to choose freely where they work from
           balance factors when it comes to attracting                          enhance and build their company cultures and
                                                 – is a key driver for both attracting and
           sta . Despite salary and benefi ts still being                       workplace environments.”
                                                 retaining sta , with the potential positive
           perceived as the top factor in moving jobs










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