Have you heard the term “the great resignation” floating around? According to Microsoft, over 40% of the global workforce has considered leaving their employer in 2021. This phenomenon has been referred to as “the great resignation.” Employers are struggling to retain staff, and with 10.4 million job openings in August, hiring is as competitive as it gets. So, how do you endure as an employer? Follow these guidelines to survive the great resignation, hire the employees you need, and retain the team members you love.
Simplify Your Application Process
When candidates have to rehash their qualifications repeatedly throughout your application process, they go elsewhere. Simplify your application process by requiring only a resume. Partner with an ATS that automatically parses information from a candidate’s resume into your database. Additionally, eliminate any excess requirements like an online application, cover letters, assignments, or an extensive list of references. The easier it is to apply to your job, the more applications you will receive!
Speed Up Your Hiring Process
Great candidates will not wait for you to make up your mind about who you want to hire. In the current market, people are receiving multiple offers at competitive salaries. So, if you find someone you like, make an offer! Don’t shy away from offering during an interview. Your hiring process needs to be as expedited as possible. Additionally, come out of the gate with your absolute best offer. This is not a time to lowball. To beat the competition, you must meet (or exceed) the candidate’s salary expectations.
Cater To Candidate’s Priorities
Above all, the most significant piece to retaining your current employees and attracting new ones is simple. Give them what they want. In addition to adequate salaries, workers are looking for impressive benefits, flexible work schedules, and remote work options. Assess your resignations and exit interviews to understand why people are leaving your company. If you’re losing more people of color, overhaul your diversity and inclusion programs. If your employees continually note salary as a reason for leaving, do a full audit of your team’s salaries and implement change.
In conclusion, these trends will only continue as we head into 2022. Candidates are in the driver’s seat, and they expect all the creature comforts of a luxury vehicle. During the great resignation, companies that don’t adapt will get left behind. Looking for advice on how to stay ahead of the curve? Get exclusive access to our client resources here.