With the ongoing Great Resignation, leading to record numbers of employees either leaving the workforce or pursuing new opportunities, there is more competition amongst employers than ever to attract top talent.
People have been pushed hard since the pandemic. Some don’t feel that their sacrifices have reciprocated during this time. Many got burned out and needed a change. Previously these cycles ebbed and flowed, with candidates and employers changing power structures every few years. With more options, gig economy, remote roles, and new career choices, candidates have taken the reigns and are not handing them back.
These factors, coupled with the changing work landscape – which includes an increased focus on work-life balance as well as more companies adopting virtual work, hiring managers will need to adjust their strategy.
Once upon a time, job seekers would be able to visit a job board, find several jobs, and receive lots of traction and options for their next role. Today, many factors impact where and why someone might want to work for a company. Up until recently, the most significant factor for a position was distance, and people searched for roles based on their commute and the size of the company they preferred.
Today, not so fast. Location does not matter as many jobs are remote. The company’s size can still be a factor, but what’s more important to many job seekers – especially Gen Z workers – is what that company stands for. People want to have a greater purpose aligned to their work than profit; many prefer to look at how your company works with the community and their community. They’re asking how well your company works with their neighbors locally and globally, and how well you work with people who look and act as they do.
People want work to align with their entire self, and work must fit into their lifestyle. It’s a me-first view of employment, and many are voting with their feet by walking out the door. To stand out, employers and hiring managers need to show prospective employees how a role will fit into what they desire with their family, hobbies, fitness, and mental health goals.
Additionally, during the hiring process, some companies are losing out on great candidates because of slow timelines. There is so much process time for both new hires and new resignations, that when your company has a high volume of both at the same time, the throughput of HR is impacted. As we know in the recruiting industry, time is not your friend, so any delay could cause a great candidate to move on from your opportunity in favor of one that is being accelerated.
While The Great Resignation is shaking up hiring, it’s offering as many opportunities for employers as it is jobseekers. Employers offering work-from-home options now have a larger talent pool to choose from, and there are lots of great candidates looking for new opportunities. Offering potential employees an efficient hiring process, great benefits and the work-life balance needed in this new work environment can make the difference in helping your company grow and succeed.