This expectation for government action will likely have tremendous political impact in the months ahead. Even so, the degree of influence will depend on the country. In the US, just 21% place responsibility on the government, but that figure is 46% in the Netherlands, 53% in the UK and 60% in Germany. In markets where socialists policies are more active, the expectations for government intervention are higher.

strong actions needed for retaining talent

Even so, employers need to be mindful of how they support their workforce in the months ahead. The Great Resignation continues to affect talent scarcity in markets such as the US, and wage inflation is being felt across many places around the world. Some employees are already seeing more support from their companies, including 11% who say they have received pay increases outside of their usual cadence of annual reviews, and 9% have gotten a one-off adjustment.

To ensure they retain their workers, companies will need to provide a better talent journey for their people. To do this consider:

Closely monitoring compensation practices, especially for in-demand skills. Make sure pay policies are also well communicated to better manage workforce expectations.
Making sure employer brand building is a sustained practice because employers will need to compete on more than just pay.
Regularly surveying workforce sentiments to ensure company policies reflect the desires and needs of employees.
Offering ways to help workers offset higher costs, such as allowing more remote working arrangements to save on commuting costs or subsidizing spending such as for childcare or health services.

Workers around the world experienced tremendous difficulties during the past two years and were able to bounce back. Surging inflation is yet another challenge they are loath to take on. Companies that are especially proactive in helping their employees overcome higher prices will likely be the most successful in nurturing a loyal and productive workforce in the months ahead.

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