In recent years, there has been a global restructuring of the workforce. Whereas job security for workers was a major point of concern at the onset of the pandemic, employers today are facing new challenges as ‘The Great Resignation’ continues on.
In July of 2021 alone, over four million Americans quit their jobs, with a large portion represented by mid-career workers aged 30-45. This demographic is showing an increase in resignations of about 20% compared to 2020. These numbers tell a story about cultural changes taking place in employee and employer relationships. The propensity to leave a job has created a labor shortage, posing new concerns for employers looking to build out their workforce.
What follows are the implications of the labor shortage, the main drivers behind this trend, and new ways for you to adapt to new recruiting methods such as turning to recruiting software for better candidates. Leave those archaic recruiting procedures behind.
Why are people leaving their jobs en masse?
It’s possible that the uncertainty that swept over society at the beginning of the pandemic caused workers to stay in their jobs longer than they intended. Some postponed their plans to seek new work. The Harvard Business review recognizes that part of what we’re seeing could be two years’ worth of resignations.
But the story seems to be deeper than just logistics. Workers have reported:
- Extreme burnout with the onset of remote work
- Expanding working hours
- Additional pressure from adapting to new conditions
- Higher workloads
- Existential reflecting that the pandemic forced upon all of us,
What does this mean for recruiters and employers?
Because of the global labor shortage (particularly in hospitality and healthcare), workers applying for new jobs are aware of the leverage they have as many employers are desperate to hire. With the high inflation rates and dissatisfaction with the unfair conditions that have faced workers in the past, candidates are looking to have their standards met when it comes to lifestyle and pay. Due to this bargaining power, workers don’t plan to accept the years of stagnant pay that they saw for most of their careers.
Recruitment traditions that we’re leaving behind
To adapt to the changing demands of jobseekers, you may have to revolutionize your recruiting processes and expectations. Here are some patterns that are being left behind in today’s hiring landscape:
Strict experience requirements
Rather than seeking to find the perfect candidate who already knows the ins and outs of the job, hiring managers should have looser expectations when it comes to candidate experience. Open your mind to more transferable skills, signs of raw potential, and the option to become educated and up-skilled on the job.
With an increase in online courses and countless online platforms to learn vital skills, you can train and tailor your organization’s workforce with more ease than ever before. Plus, by having such tight guidelines for prior work history, you lose out in the end, eliminating the possibility for more diversity and creativity.
Searching in the wrong places
For many employers, especially small and local businesses, outdated ways of recruiting still dominate the industry. Whether it’s posting physical job advertisements in local newspapers, relying on word of mouth, or depending on internal promotions, limiting yourself to these methods makes hiring more difficult.
Leveraging the wide reach of various online platforms is essential to reach today’s generation of workers. There are numerous recruiting software and recruiting tools for employers with the most diverse pool of talent to explore.
4 ways for employers to adapt and thrive in the current labor market
The labor shortage that’s begun as a result of The Great Resignation has outlined an intimidating and potentially discouraging picture for hiring managers. Here are four key methods and concepts that you can use to attract job seekers and survive in this challenging hiring climate.
- Take a data-driven approach: Have a retention or hiring problem? Assess the causes and factors at play. Look at key metrics including compensation, promotion duration, pay raise increments, and training or growth opportunities provided for employees. Which areas are unfulfilling? Do employees see better pay and situations elsewhere? Come up with ways to overcome these hurdles.
- Use a mix of recruitment strategies: Instead of sticking with the same sources and methods that you’ve always used, consider changing it up. Create an employee referral program, work with staffing firms, streamline processes with digital platforms, and make the interview process faster with quicker decisions and fewer steps.
- Cast a wider net to candidates outside the norm: Instead of looking for individuals who exactly match the needs of the job, open the position up to workers of different backgrounds to widen your applicant pool on recruiting software. Offering the position to a candidate who might consider this role a step-up will satisfy the reason that person left their job in the first place. Lower the skills requirements and provide ways for candidates to make up for any lacking skills through training and education tools.
- Offer incentives: Low-wage jobs offering sign-on bonuses is a trend that’s been making headlines, but if workers are leaving their jobs for lifestyle reasons and insufficient pay, it might be time to re-think your employee compensation and benefits scheme. Sure, offering higher pay is always an option, but for many companies suffering from the same economic pressures as everyone else, this may not be possible. Other benefits can take the place of wages such as professional training options, company events, overtime pay, and office perks. Plus, offering an increased level of flexibility makes your company more competitive in the hiring space. By providing options for flexible work schedules where there’s a variety in shift times, personal lives, or job types, you’ll tap into a larger, more diverse pool of talent. Don’t you want to welcome workers who are tired of the traditional job schedule?
Ready to discover great talent in a tough market?
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Arya can even reach out and qualify candidates, so you can quickly start the interview process. Request a free demo to discover how Arya identifies, analyzes, and sources candidates who are the right fit.