Talent challenges in the mobility industry 

According to the 2024 Global Risks Report¹, talent remains a critical factor driving enterprise risk, with nearly every country ranking skills shortages or unemployment as a top 10 concern. In this article, we will delve into the key talent challenges faced by the mobility industry and provide actionable strategies for business leaders to navigate these risk obstacles and drive sustainable growth.

Companies in the transportation and mobility industry are struggling with a shortage of skilled professionals. The demand for expertise in areas such as mobility engineering and computer-related skills far exceeds the available talent pool. To address this challenge, mobility companies should consider investing in talent development programmes. These programmes can bridge the skills gap and upskill existing employees through specialised training, certifications, and mentorship opportunities. Collaborating with educational institutions to design specialised courses and certifications can also attract and train new talent while aligning academic curricula with industry needs. Additionally, offering competitive compensation packages and benefits can help attract and retain skilled professionals.

Many companies in the mobility industry face difficulties aligning their mobility programmes with talent management strategies. This misalignment hinders talent development, retention, and upskilling efforts. To overcome this challenge, companies should integrate mobility programmes into talent management strategies. This includes:

• Identifying high-potential employees, providing mobility-related training, and offering clear career paths. 
• Creating career growth opportunities to attract and retain talent. 
• Providing regular training and development opportunities, such as workshops, seminars, and access to online learning platforms, which can enhance employees' mobility-related skills.

The mobility industry faces intense competition in attracting and retaining top talent. To address this challenge, companies should enhance their employer brand by highlighting the industry's innovation, sustainability, and career growth opportunities. This can be achieved through targeted marketing campaigns, participation in industry events, and showcasing success stories of employees. The industry has historically suffered from a lack of diversity, especially in leadership positions. By fostering a diverse and inclusive work environment, we can not only address this issue but also attract a broader range of talented individuals. This includes:

• Promoting diversity in recruitment practices, fostering an inclusive culture, and providing equal opportunities for all employees. 
• Offering flexible work arrangements and work-life balance initiatives, such as remote work options and family-friendly policies, can appeal to a younger workforce. 
• Providing ongoing professional development and advancement opportunities, such as mentorship programmes, leadership training, and access to industry conferences, can help retain high-performing employees.

Regulatory uncertainty in the mobility industry poses risk challenges for organisations in terms of talent acquisition and retention. Navigating evolving regulations related to safety, privacy, and data protection requires a proactive approach and a workforce that is adaptable to change. Organisations in the mobility industry must stay informed about regulatory developments, ensure compliance, and communicate their commitment to regulatory compliance to attract and retain top talent in the industry. Their workforce’s trust should be fortified through transparency and equitable work practices². 

The mobility industry is at the forefront of technological advancements, including harnessing artificial intelligence (AI). To effectively address talent challenges and leverage AI's potential, companies should invest in continuous learning and development to ensure employees stay updated with the latest technologies and trends. This can include providing access to online courses, organising internal workshops, encouraging employees to pursue certifications. Fostering an innovative culture encourages exploration of new technologies. Idea-sharing platforms, collaboration, and partnerships with tech partners and startups can provide access to specialised talent and help companies stay at the forefront of advancements.

The mobility industry is facing a unique set of talent challenges in an era of rapid change. By proactively addressing the shortage of skilled talent, aligning mobility programmes with talent management strategies, attracting and retaining top talent, and keeping pace with technological advancements, companies can position themselves for long-term success. Implementing these strategies will enable business leaders to effectively compete for the best talent and drive sustainable revenue growth. As the mobility industry continues to evolve, it is crucial for companies to prioritise talent management as a strategic imperative to stay ahead of the curve and thrive in an ever-changing risk landscape.

Footnotes

1. https://www.mercer.com/assets/uk/en_gb/shared-assets/local/attachments/pdf-world-economic-forum-global-risks-report-2024.pdf

2. https://www.mercer.com/assets/global/en/shared-assets/local/attachments/pdf-2024-global-talent-trends-report-en.pdf