Talent Attraction, Retention Become Top Priorities

Mexico productivity levels fell during 2021 so talent attraction and retention are the top priorities for 84 percent of companies in 2022, according to a study by PAE Global. However, flexible schedules, a focus on wellbeing and competitive salaries could lead to significant turnover. 

In 2021, Mexico’s productivity fell to 1 percent from 2020’s 6 percent as an excessive workload during the COVID-19 lockdown exhausted the local labor force, according to Jorge Izquierdo, CEO, PAE Global, and the International Labor Organization (OIT). During the year, over 1 million employees were laid off and the employees who retained their jobs had to make up for their missing coworkers.

"Companies need to be very careful with productivity because the workforce is depleted. If they do not implement the necessary measures, personnel turnover may begin to occur in the upcoming months, especially now that more businesses have resumed operations, adding more employment options for workers to choose from," said Izquierdo. For companies to attract and retain talent, Izquierdo suggested offering a flexible work scheme with a competitive salary.

“Commonly, people who leave their jobs have multiple employment offerings because they are the best talent. Those are the ones you as a company want to retain, as they have the abilities that the economy demands today, especially in technology since human capital is now required to manage systems,” highlighted Izquierdo.

MBN’s expert contributor, Javier García, CEO, IOS Offices, said that 2022 will be the year of the “race for talent” after the recent technological boom created new demands for talent. Under these circumstances, companies will have to adapt to job seekers’ demands for work-life balance that includes their wellness, development and happiness. García urged companies to create a working environment that encourages productivity, as the main reason for employee turnover is dissatisfaction.

“We tend to believe that companies are the ones interviewing candidates but it is now a bidirectional relationship where companies interview candidates and vice versa. The pandemic has taught applicants that they can choose where ­— and how­ — they want to work. As a result, candidates also interview the company that best matches their needs,” wrote García for MBN.