3 People Challenges that every Corporate Leader needs to know

There are 3 people challenges in corporates right now.

1) Managers are burning out
2) Employees are getting frustrated
3) Talent is seeing lucrative options to leave their 9 to 5 jobs

What does it mean and what could corporates do?

1) People Managers are getting swarmed under the pressure of:

• hiring the right talent,
• retaining top performers,
• meeting business goals
• taking care of well-being of their teams

All this while managing:

• their own (and their family’s) health
• complexity of remote working
• uncertain business scenarios
• client escalations/tough stakeholders

It’s high time Corporates accept that Managers Can’t Do It All.

(Validated in HBR Apr’22 issue)

2) Employees are:

• Giving high productivity
• Working virtually in Silos
• Doing Self-Paced Online Courses
• Shifting jobs
• Taking career breaks

Working & thinking much more independently than ever before

3a) Talent is being consistently seeing bright side of Quitting Jobs:

• @naval has 1.6M followers on Twitter.
  He writes about becoming rich by owning ur time
• @JustinSaaS has 53.9k followers on Twitter & 180K+ on LinkedIn
  He encourages people to become solopreneur
• @thedankoe (95.2k followers-Twitter) is on a mission to build passionately profitable individuals.
• @dvassallo (111.2k followers) talks about entrepreneurship. One look at his feed would show how his followers are happily quitting their corporate jobs.

3b) Publications & Social Media platforms have amazing stories of people who have/are:

• Happy that they took career breaks
• Left corporate jobs to start on their own
• Experimented with career shifts
• Earned $$$ by just following their heart

3c) Gig Working is on the rise:

• Platforms like Upwork , Fiverr and Flexingit1 have made it convenient for freelancers to scout for work
• There is greater acceptance of gig workers across industries, especially in the start-up ecosystem.

In this growing scenario of:

1) Managers burning out
2) Employees getting frustrated
3) Talent seeing lucrative options to leave their 9 to 5 jobs,

Corporates would need to think creatively to manage their people.

Below are some suggestions.

The Leaders and HR teams would need to:

• Re-look at their expectations from a ppl Manager
• Treat each employee as a consultant- give them work worthy of their time, compensate them as per their output
• Know very well what each individual stands for
• Value Them

There is a big need for corporates to re-write their talent story:

• Individuals need to get a sense of freedom, the more they are chained by boundaries, more they’ll break free
• The more the onus of this is put on only the people manager, the bigger the churn there would be

Help reach this to your network, by sharing on your social media handles.