Germany, Europe's largest economy, could face a severe labor shortage as economists predict its workforce will peak in 2023 and then shrink by 5 million by 2030.
Meanwhile, research by Korn Ferry shows that the job market has been torrid for months, but the counter-offer market is just starting to heat up. Companies are desperate to retain their talent, especially highly skilled or high-potential ones, because they don't know if they will be able to quickly find quality replacements. Talent and compensation management experts say companies continue to build counter offers for frontline employees, senior executives and all middle roles.
Two pieces of news that essentially convey the same message: the job market will become increasingly competitive and successful companies have little time to work on the most important goal: to give each individual employee clear visibility on the Purpose, the real driver in strength of which each person offers their daily and individual contribution to the Organization to which they belong.
In our experience, it frequently happens that people decide to evaluate a new professional opportunity precisely because they believe that they are not correctly positioned in terms of remuneration and, above all, they cannot find the meaning of their professional activity.
Then, when they come to the Company to communicate the will to leave, possible economic relaunches materialize, which however do not resolve the fundamental question of the Purpose.
The only way is to work proactively on these issues.
Otherwise, you will burn tons of money and get no results. And this is something that will stick around longer, much longer, than the effects of Covid.