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Table of Contents

1. Opening Salvo

2. Did You See This?

3. Talent Management 101 (TM101)

4. The Plug

Opening Salvo

Workforce planning is the difference between a company that thrives and one that scrambles to keep up. Yet, too many organizations treat it like a last-minute scramble when turnover spikes or budgets tighten.

Some leaders assume they can hire their way out of every problem. Others hope their current workforce will naturally adapt to business needs over time. Both approaches miss the mark. The reality? Effective workforce planning is proactive, strategic, and deeply tied to business outcomes.

Instead of reacting to talent shortages after they happen, organizations need to build a blueprint for the future, one that accounts for market shifts, skills evolution, and internal mobility. Because if you’re only thinking about your workforce when a crisis hits, you’re already behind.

Practical Personas (with a tinge of hyperbole)

• The "We’ll Cross That Bridge When We Get There" Leader: Treats workforce planning as an occasional to-do, often reacting to talent shortages only when they become painful. Hiring decisions are made in a rush, and development takes a back seat.

• The "We Need a Plan, But Let’s Not Overthink It" Leader: Acknowledges workforce planning but approaches it with vague strategies, relying on short-term fixes like external hiring without assessing long-term business needs.

• The "Future-Focused" Leader: Actively integrates workforce planning into business strategy, aligning talent needs with organizational goals and ensuring employees are equipped for evolving challenges.

Here’s What to Consider:

• Audit Your Current Workforce: Take inventory of existing skills and gaps before they become business risks.

• Anticipate Business Needs: Align hiring and development strategies with projected company growth, market shifts, and evolving job roles.

• Prioritize Internal Mobility: Develop clear pathways for employees to upskill and transition into critical roles before relying on external hires.

Did You See This?

The Side Gig Economy: Why More Americans Are Working Multiple Jobs

A record number of Americans are working multiple jobs, highlighting a growing economic strain and shifts in workforce dynamics. More than 8.4 million U.S. workers held multiple jobs in December 2023, marking a significant increase as inflation, stagnant wages, and rising living costs push employees to seek additional income.

While side gigs and part-time roles can offer financial stability, they also raise concerns about burnout, job performance, and long-term career growth. As employers struggle with retention and engagement, understanding why workers are piecing together incomes across multiple roles is critical.

Key Drivers of the Multiple Job Trend

• Financial Pressures Are Rising: Inflation continues to outpace wage growth, making it harder for employees to cover basic expenses without supplemental income.

• More Flexible Work Opportunities: The gig economy and remote work have made it easier than ever to take on additional jobs without the traditional constraints of commuting or rigid schedules.

• Job Security Concerns: Economic uncertainty and layoffs have pushed many workers to diversify their income sources to protect against sudden employment disruptions.

What This Means for Employers

• Compensation Strategies Need a Rethink: If employees are forced to juggle multiple jobs to make ends meet, it’s a sign that wages and benefits may not be competitive enough.

• Employee Well-Being Should Be a Priority: Overworking leads to burnout, decreased productivity, and higher turnover. Employers must consider how workplace flexibility and workload distribution impact their teams.

• Retention Efforts Must Address Stability: Companies that provide clear career growth paths, financial wellness programs, and work-life balance policies will have a stronger advantage in retaining top talent.

The rise in multiple jobholding is a reflection of deeper systemic issues that both employers and policymakers must address. The question isn’t whether this trend will continue, but rather how workplaces will adapt to a workforce that increasingly relies on more than one paycheck. 

Talent Management 101 (TM101)

You found global talent. Deel’s here to help you onboard them

Deel’s simplified a whole planet’s worth of information. It’s time you got your hands on our international compliance handbook where you’ll learn about:

• Attracting global talent

• Labor laws to consider when hiring

• Processing international payroll on time

• Staying compliant with employment & tax laws abroad

With 150+ countries right at your fingertips, growing your team with Deel is easier than ever.

Get the guide

The Plug

This newsletter is brought to you by AstutEdge, a consultancy dedicated to developing and deploying a people-first talent management culture. We solve both obvious and hidden challenges by optimizing performance, engagement, and development across the entire HR, People, and Talent spectrum.

How We Help:

• Optimize Team Performance: Implementing tailored strategies that improve efficiency, engagement, and collaboration.

• Develop Leadership: Nurture leaders who inspire and drive organizational success through targeted development.

• Enhance Employee Experience: Boosting morale and retention with data-driven engagement programs.

• Improve Organizational Culture: Providing insights and solutions to create a positive, high-performing work environment.

• Increase Business Growth: Aligning talent management practices with business goals to drive innovation and growth.

• Strengthen Collaboration: Facilitating team cohesion through CliftonStrengths-based coaching and development.

This plug is shameless and should be shared widely. If your organization or a partner organization could benefit from talent management support, we’d love to help!