After being hit by the pandemic slowdown, a lot of companies are now taking steps to grow. They are rolling out big expansion plans and looking to hire. That sounds like great news, except there’s a catch.
The first is the talent crunch. Companies are struggling to find the skills they require. The second is the Great Resignation. In recent months, quit rates in the US have been unusually high. Recruiting and retention have never been such a challenge.
Here’s a few tips on bring in and holding onto talented professionals for your business:
1. Embrace Flexibility
The pandemic forced a lot of people into the remote work model. While this move as initially a necessity for safety and health, it proved to be a huge success to the point that many employees don’t see the need to return to the office full-time. Employers who insist have pushed valuable staff to leave in search of companies with more flexibility.
While research conducted for Robert Half’s latest Salary guide found that 56% of employees said remote work options are a top priority 66% said they want flexible schedules. Whether it’s through flextime, windowed work or a compressed workweek, you might be able to give employees the flexibility they’re requesting.
2. Review Your Salary Structure
Competitive pay is key to hiring new employees and holding onto them. Nearly half of workers (49%) consider themselves underpaid.
Some groups feel especially shortchanged: 52% of women and 57% of Gen Z say they don’t receive adequate salaries. Around on in three workers say they will walk out if their compensation doesn’t improve soon. This is one of the key factors in the Great Resignation.
3. Promote a Supportive, Inclusive Workplace Culture
Fostering an environment of inclusivity, one where everyone feels heard and has the space to be themselves, can be critical to your recruiting and retention efforts. Great pay and career opportunities will only do so much, especially if that person doesn’t feel accepted and like they belong.
4. Refine Your Hiring Process
Recruiting moved online years before the pandemic. Hiring managers were however slow to move to video interviews and online assessment tools. That changed in 2020 when the pandemic hit. Now, almost every aspect of the hiring process is done online. Job seekers today also want quick hiring decisions. 62% of professionals lose interest in a job if they doesn’t hear back within 2 weeks. This number jumps to 77% at the three week mark. Skilled talent isn’t willing to be as patient anymore.
Above all else, be persistent.
The tips above are a good start on where and how to adapt to today’s hiring realities. Put in place what you can and what makes the most sense for your firm. Then confer with your management team and HR department to see how else you can get creative and up your game. And be persistent. Skilled talent available for hire may be in short supply right now, but your next great hire is definitely out there!