Keynote Search Delivers Situation Report for Defence & Security Industry Leaders at Rideau Club
On Friday, September 30th, 2022, Keynote Search welcomed Defence & Security industry leaders at the Rideau Club for a Situation Report highlighting current market trends and labour force insights. Taking place over breakfast, Keynote Search CEO, James Baker, discussed the ways in which organizations can “recession-proof” their high-end talent. He dove into what exactly organizations have been experiencing over the past 12 months and the overall direction most organizations are headed in preparation for 2023.
“Based off of our ongoing conversations with executives and employers of all sizes, the sentiment is that organizations are wanting more engagement and output from their teams. Employers are now paying more money for less productivity, so I think that will cause a shift for most businesses as they begin to look at how their recruiting, hiring, and organizational plans align with the business’ overall needs and objectives.”
Baker also touched on the age gap within the workforce and how a hybrid work model has seen both its advantages and disadvantages. “About 25% of the current workforce is between the ages of 55-64, outnumbering those old enough to enter the Defence & Security labour market. It’s important that we think about the talent we are bringing in and how we are developing these individuals that will eventually take our place. A hybrid work model is what I believe is the most optimal, but we also have to keep in mind how succession planning will look, so that we can effectively bring these people onboard and they will be properly equipped to take over. Having the ability to work in-person and in close proximity will help with this development, which is extremely imperative to the success of our businesses in the long run.”
James Baker also went on to mention some key ways in which organizations can attract and retain high-level talent. “Beyond compensation and salary increases, organizations should look at different avenues. Strategies such as presenting career progression plans, implementing professional development programs, incorporating bonus structures, or even expensing cell phones and tanks of gas, these are just some of the ways that you can do so.”
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