Today’s job seekers and employees have changed the way they think about work and life in general since the onset of the pandemic. This shift in mindset led to the Great Resignation, and workers are still abandoning their jobs at record-high numbers. According to the DOL’s latest Job Openings and Labor Turnover Report, a record-breaking 4.5 million workers voluntarily quit their jobs in March 2022. During the same month, 6.7 million workers were hired. But by the end of March, there were still 11.5 million job openings.
Employers are navigating a tough playing field. Job seekers have higher expectations, and the competition among employers is steep. There is hope, however. From April 2021 to March 2022, there was a net employment gain of 6.3 million. During that time, there were 77.7 million hires and 71.4 million separations. As we start to put the pandemic in the rearview mirror, those numbers will improve, and employers can take a less reactionary approach to the Great Resignation. For now, it’s important to know what today’s job seekers are really looking for in their new professional home and what you can do to set yourself apart, meet expectations, and attract and hire qualified candidates.
According to Gallup research, as of February 2022, 39% of remote-capable workers remain fully remote, and 42% have shifted to a hybrid schedule. Many employees have developed an affinity for this arrangement. And for many job seekers, flexible working options have become an expectation.
For remote workers, challenges, insecurities, and frustrations can become overwhelming quickly. Insufficient training, improper equipment, and inadequate decision-making authority are common issues. Automated systems for onboarding, payroll, benefits administration, scheduling, and timekeeping promote employee self-service and empower them to remain productive and engaged, regardless of their location.
Strong Company Culture
Job seekers are also looking for employers with a strong company culture that supports collaboration, teamwork, and employee engagement. Flexible working arrangements can make this a challenging balance, especially if your workforce is fully remote. According to Gallup research, 4 out of 10 remote workers reported they would prefer the in-person office experiences a hybrid arrangement has to offer. The lack of in-person engagement can take a toll on remote workers, so employers should make a concerted effort to keep the team connected.
Today’s job seekers and employees also expect leadership to take an active approach to engagement. Many are in search of career advancement opportunities, and they want management to be invested in the process. Through active leadership, management can help employees reach their goals through mentorship, performance valuations, and recognition.
Job seekers and employees expect employers to be compassionate, recognize their hardships, and address them with empathy and support. According to a CDC study, as early as June of 2020, nearly 41% of employees surveyed were already reporting at least one adverse mental or behavioral health condition, such as anxiety, depression, and increased substance abuse, related to the pandemic. Employers need to ensure their workers feel safe and supported. And if you have an employee assistance program, make sure your employees understand the resources, counseling, and other mental health support available to them.
The pandemic has instilled a greater sense of compassion in the hearts of individuals. Because like-minded candidates and workers hold social responsibility and charity in higher regard, they may seek to align themselves with employers who participate in corporate sponsorships. By setting up a corporate sponsorship program, you can empower your employees to make a difference in your community. For example, you can allow employers to make a pre-tax donation to an organization like the Red Cross or United Way. By matching part of all of a participant’s donations, you can improve program participation and strengthen the impact of every donation your program participant’s make.
Competitive Pay & Better Benefits
In the past, workers were more apt to stay on with an employer simply because familiarity and routine are comfortable. But it’s a job seekers market, which has emboldened workers to seek greener pastures. In conducting their latest US Pulse Survey, PwC found that 41% of workers actively on the hunt are in search of higher pay, and 23% are looking for better benefits.
Attracting top talent and retaining key employees may require you to up your game, so take a look with an eye to align your employee benefits with your competitors and leverage any opportunities to improve your competitive advantage.
Today’s job seekers are more apt to ask for certain assurances related to job security. It’s human nature to fear the unknown, so employers should be transparent about their financial standing, outlook for long-term sustainability, and preparedness to remain resilient to the effects of the pandemic.
Being candid with job seekers can set you apart from the herd. Early on, you can foster relationships that are built on trust. And disclosing this information to workers can help alleviate their fears, which can improve productivity, operational efficiency, and employee retention.
A Positive Experience
From the get-go, job seekers are on the hunt for a quick and easy application process. They often shy away from job descriptions that are lengthy or overly technical. You could be missing out on hiring qualified candidates if your application process is too time-consuming.
If your candidate experience doesn’t set you apart from the competition, qualified candidates could slip through the cracks. And if your employee experience is lacking, you run the risk of losing employees.
Contact Commonwealth Payroll & HR
At Commonwealth Payroll & HR, we provide employers with the tools and resources they need to successfully recruit qualified candidates and retain top talent. We help employers establish, document, and implement policies and procedures and provide software solutions.
With Commonwealth’s isolved Attract & Hire, employers can meet their recruiting needs and the evolving expectations of today’s job seekers. Users have centralized access to more than 4,000 job boards, branded career sites, one-click email templates, mobile-optimized applications, and a customizable Applicant Tracking System (ATS). The platform allows you to automate job posting, pre-screening, and other administrative tasks, and you can schedule interviews easily with integrated calendars.
isolved Attract & Hire helps employers scale their teams quickly, source remote candidates, and reach diverse talent. In addition, users can collaborate with team members and score candidates for fast feedback, which can reduce time-to-hire. And with Commonwealth’s isolved Attract & Hire, you can make better hiring decisions, as you have access to actionable insights through pre-built reporting. Contact us today to learn more.
*The information provided in this article does not, and is not intended to, constitute legal advice; instead, all information is for general informational purposes only. Information in this article may not constitute the most up-to-date legal or other information. This article contains links to other third-party websites provided only for the convenience of the reader.