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Bring in new talent and hold onto the talent you have by increasing salaries and bonuses, as well as investing in upskilling employees and building a more positive workplace culture.

Experience tells us that overpaying for talent, and making rash hiring decisions, will ultimately come back to haunt you. In a highly competitive global talent market like this, how are companies supposed to compete without breaking the bank?

Three questions to get you started on future-proofing your workforce.

John Morgan, President of LHH, joins Matt Alder on the Recruiting Future podcast to discuss effective HR strategies like reskilling employees, talent marketplaces, and focused redeployment. With external talent shortages and a growing skills gap, they explore how companies can future-proof workforces, gain a competitive advantage, and strengthen talent acquisition strategies.

The economics of traditional workforce management and restructuring no longer make sense in today’s rapidly changing business environment. The constant cycle of hiring and firing workers is not only expensive and wasteful, but it also destroys employee engagement and morale, damaging the employer brand. To build a future-proof workforce, organizations need to move beyond outdated practices and embrace workforce transformation through adaptive workforce solutions, continuous learning, and reskilling strategies. Developing a renewable workforce and a dynamic talent ecosystem is key to thriving in the face of change.

The alignment between organizational talent needs and an individual’s career goals can be a potent force that not only prepares your organization to meet the challenge of business transformation, but also boosts engagement, retention and productivity.

In the face of a tightening talent market, the traditional "fire-and-rehire" cycle is proving to be not only wasteful but also a detriment to effective talent retention. While organizations face various obstacles in adopting talent mobility strategies like redeployment, a closer look reveals that the structure and culture within HR departments themselves might be the primary barrier. This article explores the challenges and potential solutions for overcoming this obstacle, highlighting the significance of redeployment in today's competitive landscape for attracting and retaining top talent.