As we have seen since April 2021, we are still being influenced by the Great Resignation or the Big Quit. COVID-19 was a wake-up call for many people in general, but even more so for employees who were not satisfied with their current roles in the workplace. Employees left jobs to pursue opportunities providing more personal satisfaction, fulfillment, and autonomy. Some decided to rethink their career choices and long-term goals; some left for what they felt would be their “dream” job of working a gig or working for themselves. Money was not always the driving force in the decision to make that leap from a job last year. The resignation rate last spring was 3.1%, the highest recorded quit rate since 2000. It is estimated that 23% of employees will seek a new position in 2022.
Employers are operating in a candidates’ market right now. Even candidates without the most robust resumes are asking for and receiving higher salaries than in the past. Employers will have to make themselves an “Employer of Choice” to attract top talent but will also have to be selective about who they hire. Employees are looking for opportunities to have a better-than-before-COVID work-life balance with more time off, the possibility of remote work, as well as better benefits and compensation. For employers that can’t offer remote work as a benefit, they should look at their current benefit offerings to see if additions to their plans can be made to attract and retain talent. Some considerations are:
- Better health insurance (better coverage or lower premiums, adding dental or vision to an existing package)
- Paid time off (paid vacation, sick, or personal time)
- Retirement savings plans and matching contributions
- More flexibility with schedules (compressed work week, flexible start times)
- Employee discount programs (Working Advantage, Perks at Work)
- Wellness programs
- Continuing Education and Training
Employers need to maintain open lines of communication with their employees now more than ever. Employees want to feel appreciated and recognized for their work. Celebrating positive outcomes as a team is a huge morale builder. Conduct stay interviews and surveys with employees about what is working in the office and what could use improvement. Take this information and try to make one noticeable change per month/quarter. Have check in time with employees, not just a staff meeting. Give them a forum to speak their minds but try to keep it positive and encourage them to be a change agent in the office for what isn’t working. One of many reasons employees give for leaving a job is others not pulling their weight, sometime for long periods of time with or without management realizing, causing an increased workload for other team members. Promote accountability for the team. Reward those that go the extra mile. Make the office a positive place to be.
Building a strong, resilient team starts at the very beginning with talent selection. Even though finding good employees is difficult in today’s market, putting in the extra expense and effort to select someone who is a good fit for the team and the culture will pay off many times over in the long run. We administer a variety of pre-employment testing assessments for our clients. These valuable tools provide important insights into selecting a person who is going to thrive in the position and add to your culture; not be a derailer who could potentially bring negativity to the office. Measuring a prospective employee’s reaction to change, stress, criticism, teamwork and other important factors can give one candidate a clear edge over another. At ScrogginsGrear, we have several pre-employment assessments we can offer employers to reduce the likelihood of a poor hiring decision. This, on top of full life cycle recruiting services with personalized service, can help you make the most of a difficult employment market.