This ongoing crisis has created a huge supply-demand imbalance as companies fail to meet their talent needs.
According to a report, employee engagement and retention in the technology sector has emerged as the worst-hit aspect of organizations amid the COVID-19 pandemic.
The other four aspects most affected by the pandemic were revenue, customer engagement, new customers and projects, and employee productivity, said a report by PeopleAsset, an executive search and talent advisory firm.
The report said that in a survey of senior leaders across functions and industries, 88.9% of leaders agreed that COVID-19 has had a profound impact on their organizations, with the same number noting that employee engagement and retention are the most important. were hard hits.
The report said that when it comes to employee engagement, organizations are facing challenges of lack of sense of connectedness with the organization, lack of interconnectedness, communication, team collaboration and work-life balance.
It noted that a record number of people have started leaving their jobs around the world, especially in the tech industry, creating an unprecedented problem of employee turnover.
This ongoing crisis has created a huge supply-demand imbalance as companies fail to meet their talent needs. However, the dynamics of the job market is changing. Companies are finding that the space barriers for knowledge-based work are disappearing in the post-Covid world, it noted.
The report said the ‘pandemic stress’ has increased dramatically as employees work from home and are often isolated. For organizations, the COVID crisis has highlighted the need to focus on the mental health and wellbeing of employees.
Nearly 69% of the employees surveyed said they prefer to work for organizations whose specific plans are focused on improving the physical and mental well-being of employees, the report is based on responses from senior leaders across various functions and industries .
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