We’re all feeling a little confused and overwhelmed during a pandemic, the beginning of a new decade, and a chaotic hiring market. Things are changing, and they’re changing very quickly. It’s hard to keep up, and you may be trying to figure out the big picture.
Here it is: change. Whether you fear it, run from it, or embrace it, change is coming all the same. Change is the most consistent aspect of this hiring market. Companies all over the world are anxious about their employees’ desire for something new.
Companies are wringing their hands over the idea that the employees they’ve invested in are now going to view the current turmoil as a sign that it’s time to move on to something else. Many are chalking this shift up solely to the pandemic, but it may not be that simple.
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Did you know that 52% of people are looking to make a career change and almost half of them have plans in place to make the leap? Of those individuals, 39% cite a salary increase as the number one reason they’re looking for a new career, and 20% cite that they want more upward mobility.
There are many conventional reasons people look for a career change, and there are also a lot of unconventional reasons (like a global pandemic). In any case, change is constantly on the horizon, and it can feel like chaos. But it’s just the same old thing if you’re ready for it.
We’re moving toward a hiring market with more flux, more transition, more flexibility, and more change. That’s the real reason for this “Great Resignation” you may have heard about. Employees and job seekers are now reassessing their concept of what work means to them. They’re valuing their time and work-life balance differently.
You’d better prepare if you want to thrive.
Navigating the Great Resignation
“The Great Resignation” sounds scary, and it’s supposed to. It evokes “The Great Depression” and “The Great Recession,” but we’d be more accurate in saying something like “The Great Reconsideration” or “The Great Value Shift” (neither of which are as catchy).
It’s simplistic just to say that a bunch of people is resigning from their current jobs. They are resigning from their current jobs (a record 4 million people quit their jobs in April alone), but there’s more to this phenomenon than just that.
The pandemic shook everyone. It came out of nowhere and disrupted almost every facet of daily life. Of course, it’s making people reconsider life, work, and everything in between. The Great Resignation is the natural product of such a shift.
People in the service industry are looking for better pay and better working conditions. People in white-collar jobs are reconsidering their work-life balance. Many people are considering complete career changes for any number of reasons.
Employers are afraid because they’re struggling to understand what their employees and potential candidates want. That’s the underlying issue here. If these desires that arise are strong enough to make people quit their jobs and refuse to come back to the workforce until they find the right fit, employers better shape up to find and attract those perfect candidates.
New Talent Has New Needs
If many currently employed individuals resign, hiring managers will need to prepare to find an influx of new talent. This new talent will be from similar demographics as the pre-pandemic new talent.
They might be fresh out of college, looking for a career change, or seasoned, passive talent seeking new opportunities. In any case, due to the changing desires of job seekers, this new talent might be more discerning than ever before.
These candidates will be harder to attract because they’ve considered their reason for working, how work fits into their life, and their overall career goals. In other words, these candidates will be vetting you just as hard as you’re vetting them. You’ve got your work cut out for you. You’ll need to do your research and understand what this new talent is looking for.
- Is your workplace flexible enough to provide an outstanding work-life balance?
- Do you have programs that allow your employees to continue to develop personally as well as professionally?
- Do you have a plan for unforeseen circumstances (like a pandemic)?
- Are you encouraging them to expand their skillset and increase their value even though they may not stay with you forever?
These are just some of the questions that job seekers now have at the top of their list. You’ll need to have thoughtful, satisfying answers to bring in the very best talent. But the great part is that process only makes you better.
Job seekers and employees value themselves more now than they ever have, and they want to know exactly how much you appreciate them. Considering all of these questions and putting programs and strategies to address them will only make you a more attractive workplace.
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Strategies for Bringing in New Talent
Engaging this new talent will require a subtle shift in approach. Rather than approaching candidates and explaining how they fit your company’s needs, you’ll also need to explain how you fit their needs. It’ll have to be a conversation of reciprocation instead of one party selling to the other. This is what Purpose-Driven Recruitment™ is all about at Reveal.
The fact of the matter is that 95% of employees are considering changing jobs. They are weighing the options of stepping away from stability amid supreme uncertainty. That’s a big step, and it’ll require a great pitch by you to attract these job seekers.
Position yourself as a place that listens to the needs and wants of employees and does your best to address those desires and concerns. Be the workplace that values its employees just as much as they value themselves.
That’s how you differentiate yourself in today’s hiring market. You don’t just prepare for all this change, nor do you try and survive it. You welcome it.
Change Brings Opportunity
The chaos of this hiring market can be challenging to parse, but change is nothing new. Job seekers and employees are looking for new horizons and opportunities. Businesses will need to be ready to meet their asks to bring in and retain the best talent.
That shouldn’t be a cause for fear or trepidation. It should be an opportunity to rethink what you offer employees and how you help them grow. If you view this process as a chance to be better, you’ll be in pole position to bring in suitable candidates who are with you for the right reasons.
If you don’t want the stress of the hiring process on your hands, let revealglobal.com take over! We’ll use our industry expertise and search technology to find you the best candidates.