In 2022, employers will need to go above and beyond to keep top talent. Industry leaders have predicted that in 2022, the war for top talent will continue, pushing employers to both promise and deliver the best options for candidates who are on the job search.
In November 2021, job openings were at an all-time high, but so were the amount of people leaving their current jobs. There were 4.5 million workers leaving their jobs, and, according to the Labor Department, employers posted 10.6 million job openings in November, leaving 1.5 open jobs for each unemployment candidate. Due to the high turnover volume, it is imperative for employers to offer top-of-the-line benefits if they want to attract top talent.
These statistics bring to light several questions: Why are employees quitting, how do you make them stay, and how do you attract new talent to your organization?
Employees are still continuing to leave companies in significant numbers. Though there seem to be many reasons for this, including higher pay, growth, benefits, etc., there is one main driving force: overall employee satisfaction.
The pandemic has caused workers to focus on different priorities. They are looking for jobs that give them purpose, flexibility, and one in which they are passionate about. Employees are looking for a company that shares their core values and needs. Someone’s “Dream Job” today is likely looking quite different than it did pre-pandemic.
Before COVID-19, people focused on getting into a job or career that could offer them the most money. Although other factors were considered, the available opportunities for those factors weren’t very prominent. There wasn’t much in the way of flexibility. For example, not many people knew what working outside the office was like, and many people did not have the equipment to do so. When the pandemic struck, people were introduced to working remotely, and they quickly adapted and found out how much they enjoyed it. Something that seemed so rare and unconventional was now the new normal. This trend, which stemmed from necessity, gave an abundance of employees’ access to remote work, flexibility, and independence in the workplace. Of the 71% of Americans working from home at the end of 2020, 54% indicated they would want to continue to work from home after the pandemic subsided.
Job seekers today are looking for a job where they feel passionate about their company’s mission. They want a meaningful job where they can grow and develop themselves and their career. Employees often become complacent and bored, which is why, according to Forbes, the number one thing employers should include when thinking about their 2022 plan, is their employee’s well-being. Due to the shift in priorities over the last two years, it has now become the employer’s responsibility to focus more on work/life balance and how to keep their employees’ content and challenged.
Taking action and ensuring your employees do have a desired work/life balance and their emotional needs are being met can help bridge the gap between the Great Resignation and the Year of Employee Retention. Generation Z are now out of college and looking to start their careers and when interviewed, 67% said that well-being benefits were a priority for them when evaluating their current employment situation and deciding if leaving would be the best choice for them.
Additionally, because Generation Z is graduating college and searching for their careers, it is important to remember that this group of individuals are just starting out and they will not have all the experience you may be looking for in a new hire. This generation, though, is ready and willing to learn and they want to understand how things work so they can do their job to the best of their ability. It is for this reason that investing in employee development of skills is something businesses should be focusing on in 2022. If an employee sees you investing time, energy, and resources into them becoming better workers for the company, they are likely to stay and use the tools you have supplied them to improve your business.
With the guidelines surrounding COVD-19, many candidates and employees are taking notice of the companies that are ensuring their workers are in a safe, and healthy environment. Perspective employees want to know the management team of any company is committed to making their safety programs work, as well as having employees involved in the safety programs will allow companies to feel more secure when hiring on because these employees are committed to their own, and everyone’s, safety.
To make sure you are on the uprise of retaining your employees, it is important to remember that employee well-being is what perspective, and current employees, are looking for in an employer. They want to know their physical, emotional, and mental needs are being met. Invest your resources and time into the members of Generation Z to help mold them into the types of employees you are looking for, because they are eager to learn! Last but not least, focus on your company culture. Let your workers know they are a part of a company that cares!
Malone Workforce Solutions wants to make sure that you are maximizing your recruiting efforts and we are here as your consultative partner to help you master your recruiting and retention approach and connect you with the right talent. Contact us today to explore more ways we can help.