In 2020, we saw many companies changing the way they operate, and we also saw many organization having to make massive layoffs due to the pandemic hitting the stop button on the world.
As we have gone through the ups and downs over the past year and a half of this pandemic, we are starting to see the light at the end of the tunnel. And while companies should be readying themselves to hire in waves to bring back talent to their team, they are seeing a great number of employees more open to and seeking new options.
The following are just some of the most common reasons why people are looking for a change after what they have gone through in 2020 and the first half of 2021:
- Burnouts and lack of work-life balance
- Shifting of importance in values to: family, health, and time
- Lack of trust between employers and employees
- Returning to pre-pandemic setup in a post-pandemic world (i.e. declining in remote work)
- Believes that there are better options elsewhere that may be a better fit for their situations
For any organization to both retain their best employees and attract the top available talent in the market, they must have incentives in place to draw people in:
1) Career Advancement Opportunities
While companies want to hire for the long term, employees want to grow with a company as well because no one likes to be job hunting every year or every couple of years. They only do so because they do not feel like there is any growth where they are at. If organizations wish to have employees that can be a pillar to their success for years to come, they must provide growth and career advancement opportunities, along with greater responsibilities to keep employees engaged where they can see a future.
2) Autonomy and Ownership of Work
Employees want to know that they are trusted and have the freedom to do things their way if they can produce the results that are expected of them. They are also gravitated to opportunities that puts them accountable, as well as responsibility for the work such that the outcome is a direct result of their hard work and efforts that they put in.
3) Flexibility and a Hybrid Work Model
Employees are looking for organizations that offer more flexibility that could fit the different situations that everyone is faced with. For example, a hybrid work model allows for such flexibility for working parents to adapt and being able to manage the changes in remote learning and online classes for kids.
4) Values-Driven and Recognition Culture
Employees are looking for more than just a job nowadays. They are looking for companies whose values align with their own. More importantly, employees want to be valued and recognized for their contribution to the organization’s success.
5) Better Resources and Tools
And with the shift to remote working, it is important for organizations to empower their staff and set them up for success with the right resources and tools.
6) Competitive Compensation and benefits package
It is now more important now than ever before for organizations to offer competitive compensation and benefit packages with job seekers looking for employers that can tailor to their needs. The traditional cookie-cutter, or one-size-fits-all type of plans may work and would require businesses to understand who they are trying to attract and build a plan that would appeal to those individuals. And it should not come as a surprise if you are losing out talent to your competitors if their compensation package is higher. Try to understand the market and offer an attractive salary knowing what your limits are to not affect the overall of your business operations.
For organizations who do not want to be on the losing end of the shift in the talent market, they must ensure their current values and offerings are attractive for their employees. Employees and job seekers have voiced their thoughts and expressed what they are looking for. Those companies that choose to stay the course and continue with business as usual will see their employees packing up and leaving. While those companies who listen and make changes will see new talent unpacking, and settling in with a fresh outlook to their career and ready for what’s to come. Make the right choice to come out on top in the battle for talent.
Contact Us today to speak with one of our Recruitment Specialists and let us help you build your team with talent today!