War For Talent: Insurance As A Retention Tool

Covid 19 and the war in Ukraine were the latest additions to an already challenging business environment. Both events have created waves of fundamental shifts, which the corporate world is still struggling to digest and adapt.

Challenges in the Workforce Market

The global war for human talent is one of the greater challenges still unfolding. The rapid digitization in multiple industries is fundamentally changing the talent skills required, with the competition being global and across industries.

At the same time, the great resignation effect is spreading around continents with alarming speed, creating additional pressures on the workforce market.

Employee’s expectations are moving fast towards flexibility, work-life balance, and workload management, pushing resignation levels to record highs. On the employer's side, most corporates are still relying on a “physical presence” model, with fewer global companies moving to hybrid or remote models after the first Covid waves of isolation.

However, the business handling of the first Covid wave ended up with multiple exhausting virtual meetings and an overwhelming workload for the employees, reaching fast burnout levels.

An illustrative example of quick and bold decisions was AIRBNB, announcing the new policy anytime, anywhere for their workforce. Interestingly, on the announcement day, they got…