Companies are hiring and unemployment is falling across most advanced economies in hopes that vaccines will eventually contain the Coronavirus. But not every job is coming back.
The pandemic has pushed out older employees and is deepening inequality as lower income workers feel the brunt of the crisis. Economists warn that there’s still a way to go before global employment is back to where it was before the pandemic. Here's more details from Bloomberg
While locally in Singapore, according to statistics from the Ministry of Manpower (MOM), there were about 3,000 retrenchments in the first quarter of 2020, up from the previous quarter (4Q 2019).
In the employees' perspective there are fears of job security, inequality, salary cuts and more. There are also concerns that companies do face in keeping the right talent in their organization and this is where career coaching will be helpful to both individuals who would like to have great career paths and organizations who are looking to retain their high performing talents.
What exactly is career coaching?
The main goal of a career coach is to support people in making informed decisions about their career development and trajectory, as well as offer various tools that they can use—résumés, cover letters, LinkedIn profiles—to meet those goals.
What do companies do now to retain high performing talents?
Whether Millennials or Baby-boomers, to retain experienced and talented employees and drive sustainable employment, more and more companies are moving away from the linear corporate ladder model to the lattice model.
Companies are allowing employees to explore new paths and develop new skills thereby enabling them to customize their careers.
Companies know that the top is crowded and since there is no way up, your best employees just might be looking for the way out.
A relatively small investment in your best talent will prevent undue pain and financial loss to both parties.
Give your best people the opportunity to redefine their career paths within your company.
With all the reorganization, retrenchment and changes happening, it just makes sense that career coaching is vital to address these challenges.
In our upcoming program, Allisha will help you:
Discover a new strategy to sustain strong engagement and retention
Identify your critical star-employees who are at high risk of leaving
Engage your strong bench by investing in their personal & professional development
Discover how to support them in finding challenging opportunities within the organisation
Allisha is unique having fulfilled an academic career, a corporate career, Freelancer, and now entrepreneur! Holding a PhD in Chemistry, Allisha enjoyed a successful scientific corporate career in the Pharmaceutical Industry. Later, as a Senior Partner to the Chief Executive Office in a Fortune 500 company, she successfully led more than 20 team transformations while gaining intense training & coaching from McKinsey. Allisha excelled at setting strategy, change management, and operational excellence, and as an internal certified Coach.
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Today, Allisha is an accredited ICF ACC Coach. She combines her expertise, experience, skills and a life-time of learning to coach and mentor a global clientele to proactively and holistically manage their careers supporting them to Be more | Lead more | Live more.
Join us on 23 June, 2021, Wednesday at 4PM SGT for more https://www.ctsolutionsglobal.com/career-coaching Star-Employee Retention Strategies Designed For SMART & CARING EMPLOYERS!
Sources: Allisha Ali, Bloomberg (link attached), blog by Meredith Woo on Money Smart