In 2019, Adobe faced an issue they had never faced before: an acute talent shortage. It faced challenges in recruiting the right talent to enhance its Creative Cloud suite using artificial intelligence. While they had experts in design and others in AI, they lacked employees who could bridge the two fields, a combination that was crucial for making their tools more adaptive and future-ready. Adobe’s challenge highlights a growing issue in the global workforce: the lack of multi-skilled, adaptable talent, often referred to as ‘polyworkers.’ Today, as technological demands rise and traditional roles blur, the practice of polywork is both reshaping and exacerbating the global talent crisis.
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The Talent Crisis in Numbers: An Escalating Challenge
A World Economic Forum (WEF) report in 2023 warned that global industries face an unprecedented talent shortage, with 60% of companies struggling to find employees with the right skill set for rapidly evolving roles. This shortage is predicted to worsen, with up to 85 million roles left unfilled globally by 2030, resulting in an economic loss of approximately $8.5 trillion, which some people refer to as the Global Talent Crisis 2.0. A McKinsey study found 87% of executives already experience or expect skill gaps. Moreover, about 50% of their workforce need reskilling by 2025.
Industries and sectors that require complex combinations of skills, such as tech, healthcare, and finance, have been hit hardest. India, for instance, has seen a 90% surge in demand for roles requiring hybrid skills in industries pertaining to AI, cybersecurity, and digital marketing over the past three years. Traditional single-role employees often lack the adaptability companies now need to stay competitive, further fueling the talent crisis.
What is Polywork, and Why is It Growing?
Polywork refers to employees holding multiple roles or skill sets within or across organisations, allowing them to transition smoothly between different types of work. A LinkedIn survey in 2022 revealed that 55% of young professionals now seek jobs that let them engage across multiple disciplines, a trend driven by the demand for continuous learning and flexible skills.
Companies have increasingly adopted polywork to address immediate skill gaps, but the trend is complex. While a Harvard Business Review report indicated that polyworkers could boost productivity by 20%, polywork does have some caveats. For example, even as polywork talent becomes more widespread, only 40% of firms in a Deloitte 2022 survey reported success in retaining polyworkers, as many become overburdened or move on to more flexible roles elsewhere.
Polywork: The Good and The Bad
Polywork both alleviates and highlights the global talent shortage. As companies increasingly demand multidisciplinary skills, they lean on polywork to mitigate immediate gaps. According to a PwC report, 72% of companies plan to raise their budgets for cross-disciplinary training by 35% over the next three years. Investing in polywork talent development could ensure a steady flow of adaptable employees ready to take on multiple roles, potentially reducing long-term hiring costs. For example, in 2022, Amazon invested $1.2 billion into training programs focused on data science and machine learning, aiming to create a polywork-ready workforce. This initiative reduced Amazon’s hiring expenses by an estimated 20%, as reskilled employees filled roles internally, reducing the need to conduct a hiring round.
That being said, it’s not all sunshine and roses; some glaring flaws exist. For one, less people filling more job roles will give rise to even more unemployment. Many countries around the world are facing high unemployment rates and polywork can increase it, turning a talent crisis into a potential job crisis. Moreover, the “always-on” nature of polywork can take a toll. A Gallup study in 2023 found that employees juggling multiple roles reported 28% higher burnout levels than single-role employees, with demands often exceeding manageable limits.
In Google’s case, the company experimented with polywork in 2022, integrating this structure within its engineering teams to address skill shortages. Initially, the productivity gains were substantial, but burnout rates spiked by 20%. To counter this, Google introduced mental health resources, dedicated “focus days,” and regular breaks, which ultimately reduced burnout rates and stabilised productivity.
Preparing For A New Approach To Address Talent Crisis 2.0
Polywork offers companies a powerful strategy to fill skill gaps in real time, providing adaptability and promoting innovation. However, as Google’s experience demonstrates, its implementation requires balance to avoid creating a stressed and overwhelmed workforce. Organisations that successfully integrate polywork are likely to see productivity gains and lower turnover, but only if they actively manage employee well-being.
By embracing polywork thoughtfully, companies can navigate the talent crisis more effectively, equipping themselves with versatile talent that meets the demands of an increasingly complex global market. In the process, polywork may not only reshape careers but also redefine the essential qualities of an adaptable, future-ready workforce.
