The Talent Disruption Risk Looming in 2021
In this blog 'The Talent Disruption Risk Looming in 2021' on Internal Auditor Online, IIA President and CEO Richard Chambers, CIA, QIAL, CGAP, CCSA, CRMA, shares his personal reflections and insights on the internal audit profession.
As internal auditors put the finishing touches on their risk assessments before preparing their 2021 audit plans, there is one risk that should not be overlooked: talent disruption. While there has been some degree of challenges in organizations' talent pools for years, I believe a perfect storm is coming that will create more pervasive talent disruption risks in 2021 than any time in memory.
There has been plenty of speculation about how businesses will operate in a post-COVID-19 world, including short- and long-term changes to managing talent. While no amount of speculation or crystal-ball gazing can provide definitive answers to how these issues will manifest, one thing is certain: Talented executives and staff are becoming restless and are gazing beyond the confines of their employers for new opportunities.
There are plenty of studies that point to a significant percentage of employees — as high as a third — questioning the wisdom of returning to the workplace. Others speculate about how work-from-home will change recruiting, salaries, and other compensation. Still others question the impact on workplace culture, team chemistry, and how technology could mitigate or alter any disadvantage of not being physically present to network and build alliances.