The Role of Workforce Strategy in Preparing for the Future of Work

Jocelyn Caldwell, Vice President, Workforce Strategy and Organizational Growth at Walmart

The Walmart items you find in your local store or have delivered to your doorstep would not be possible without the truck drivers in our best-in-class private fleet. They quite literally drive our business.

So, when faced with an industry-wide shortage of truck drivers, we got creative and developed the Associate to Driver program. This program gives frontline store, club and supply chain associates the opportunity to become Walmart truck drivers, making up to $110,000 in their first year. We pay for their training, cover the thousands of dollars for their commercial driver’s license, and connect them with experienced Walmart drivers who serve as mentors.

The program is good for business and good for our associates. It’s also a good example of using workforce strategy to meet business demand. We filled these roles by tapping into our associate base, while creating a new pathway for associates to grow and stay with us.

Workforce strategy is a must. According to the National Retail Federation (NRF), retailers anticipate growth of 4-6% this year, while non-store and online sales are expected to grow 10-12%. The National Chamber of Commerce also reports many positions remain unfilled. Labor participation rates are projected to decline by 3%, and the workforce is aging and becoming more diverse, requiring new skills. These underscore the importance of using workforce strategy to prepare for the future of work.

Are you doing workforce strategy right?

The basics of workforce strategy are clear: ensuring the right people with the right skills are in the right roles at the right time. But the basics aren’t enough in today’s ever-changing environment.

Companies must identify the in-demand roles and required skill sets to meet business demand and identify skilled talent using market and internal data. An effective workforce strategy meets demand and manages market fluctuations by not over-hiring or rehiring, keeping recruitment costs low and employee morale high.

Use data to understand talent

Building a workforce strategy requires businesses to have a clear and concrete understanding of the current talent supply and future demand. An important first step is to observe and analyze internal data, specifically what skills your talent currently has and what future skills you will need to meet demands.

For example, a business might aim to deliver merchandise via drone over the next five years. Using internal talent data, organizations can understand what specific roles and skills are not currently well-defined that will be important for drone delivery.

Create learning and growth opportunities

At Walmart, we crafted a workforce strategy that aligns with the business objectives by creating associate opportunities. We use data to understand the skillsets of our current associates and anticipate future demand to build the talent pipeline. This includes our Walmart Academy, which provides on-the-job training, and our Live Better U education program, which pays 100% of tuition and books. For our associates, the programs remove barriers to education, such as cost, and give them pathways to learn and grow at Walmart.

Adapt to a changing workforce

While we develop our associates to fill in-demand roles, like in pharmacy, cybersecurity, and health and wellness, we also establish strategies to attract external talent. We recently announced our plan to rewrite job descriptions and remove college degree requirements from hundreds of corporate jobs. The change enabled us to focus on the specific skills needed to meet demand, knowing those skills can be obtained from prior experience or other types of learning, such as military service or years of work experience.

An effective workforce strategy will meet current and future demands when leaders use data to understand talent, create learning and growth opportunities, and adapt to a changing workforce. Talent is more inclined to stay with the business when it creates opportunities at all career stages. When talent stays, it often means lower business turnover and reduced costs.

Having skilled talent in the right roles helps businesses achieve their goals and stand out in a changing marketplace. That’s the approach helping prepare Walmart for the future of work.

Supply Chain

Retail