A record 4.5 million American workers quit their jobs, and employers posted 10.6 million job openings in November 2021. Recent surveys reveal that workers are walking out the door searching for work-life balance, appropriate compensation, and benefits – and people may continue to quit in large numbers throughout 2022.
In this era of the Great Resignation and war for talent, recruiters and executives can no longer believe that candidates for their jobs are ubiquitous and employees are fungible. Instead, businesses must immediately implement employee-centric policies to nudge out the competition to attract and recruit the top talent in today’s competitive market. Here are three effective strategies:
1. Focus on upskilling, training, and a career path for the top talent
In the newly remote world, anyone who is open to learning has the resources to enhance their careers, pivot to new jobs, and reinvent themselves to become part of the future digital wave. Many forward-thinking companies are offering to upskill training to new hires with a wide range of educational opportunities, such as hands-on projects, courses, job-ready certificates, career credentials, and degree programs. In a tight job market with companies suffering from attrition and finding it hard to get people to replace those who quit, education offerings are a sound strategy to recruit and retain top talent. If a worker feels that they are valued, are learning, and growing in their job, they are more inclined to join and remain with the company.
2. Find a structure that attracts the top talent
The pandemic made people adjust to working from home quickly, and the perks of being in the office were replaced promptly by the benefits of a flexible work environment. Commuting two or three hours each day, working in a cubicle for eight hours a day, staring at a computer screen, etc. – all those pre-pandemic practices seem both cruel and antiquated today due to a collective call for having a better quality of life. Today, a tremendous competitive advantage for recruiting is offering support and tools for employees to create a healthy work-life balance. To achieve this goal, companies can offer flexibility, show trust in their employees, and ensure managers are well-trained, empathetic team leaders. At the same time, remote working has also opened opportunities for the companies as they can solicit top talent anywhere across the U.S. and around the world. If a fully remote format does not work for your business, work with your teams to find ways to implement some more ownership of what their work experience would look like.
3. Create a great experience for candidates
Research suggests that 60% of job seekers abandon an application if the process is too lengthy or complex. Whenever possible, aim for quick apply functionality or mobile applications. At the same time, recruiters need to invest in a positive candidate experience by engaging with candidates when they interact with job postings and maintaining consistent communication with applicants to explain what they can expect regarding the hiring procedures. The process of attracting talent extends beyond the interview itself. It is essential to give candidates a positive view of the company throughout the process, including hiring and onboarding. A positive experience ensures your organization delivers on expectations. This can also lead to positive reviews, helping you build a pipeline of top talent.
Amidst the pandemic, the talent market has dramatically changed. Candidates want a work-life balance, appropriate compensation, and benefits. They want to work alongside intelligent, motivated colleagues and desire a positive corporate culture that is supportive of the values and social issues shared by the employees. Hence, in this tight job market, employers need to brand themselves as a great place to work; and effectively communicate benefits, perks, and most importantly, a diverse and inclusive culture to attract talent and stay viable.