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More than half (53%) of companies plan to hire extensively in the next 12 months, and 71% plan to shift more work to the contingent, project, or contract workforce, according to Randstad Sourceright’s 2022 Talent Trends report. A quarter of respondents (25%) said they converted permanent roles to freelance or temporary positions in 2021. 

The research, which included the views of more than 900 human capital and C-suite leaders in 18 markets around the world, revealed that these leaders are focused on balancing a people-centric mindset with the need to effectively address skills and labor gaps. Talent scarcity was the second most-cited pain point, with 25% saying it’s a major problem (the top-cited pain point was HR technology strategy at 28%).

For attracting talent, the respondents rated the following strategies as being most effective: sign-on bonuses (88%), flexible work arrangements (86%), increasing pay (83%), and engaging contingent talent (83%). Companies are also harnessing the power of data, with 79%  saying that talent analytics play a crucial role in sourcing, attracting, engaging, and retaining talent.

To keep the talent they already have, organizations are making significant investments in their people. A large majority (84%) of respondents said their organizations are more focused on the talent experience than ever before. More than half (54%) said their organization is investing more in internal talent mobility, and 65% said they have taken active measures to reskill and upskill employees.