People are leaving jobs in record numbers as America faces the Great Resignation. Employers in nearly every industry are facing severe hiring and retention challenges with no end in sight.
We brought together some Kansas City-area experts on the subject to weigh in with their analysis of the problem and – even better – fresh ideas for how to find quality staff. We talked with:
- John Copeland, Senior Vice President and Managing Director of Lee Hecht Harrison
- Katie Hull, a Partner with TalentFund
- Missy Ragsdale, Senior Principal and Director of Human Resources for Populous.
Multiple factors are driving the trend
The cause for this problem isn’t simple or singular. It begins with a shift in how people are thinking about employment and the way it interacts with personal factors. Compensation is always an issue, but so is flexibility. Some employers are seeing a general sense of wanderlust; employees are disenchanted with their careers and willing to take the risk of exploring alternatives.
Some say it boils down to low labor force participation. It was already low before the pandemic. Yet the high burnout rate, a proliferation of mental health issues, family management issues and higher unemployment benefits made people more willing to sit out. Add to that the skill shortage, especially in technical areas, and you have an extremely hot market with some candidates having 10 to 15 opportunities to compare.
Creative strategies can help
On the recruitment side, employers have found they must get better at the whole candidate experience:
- Make more one-on-one contacts
- Give current employees greater incentives for using their networks to generate referrals
- Keep candidates highly engaged during the process
- Interview and make decisions faster
Even taking extra care to contact rejected candidates can go a long way toward building your reputation as an employer of choice.
When it comes to retention, our panelists said they see employers putting more emphasis on helping employees understand the value of their benefits – with benefits statements, for example. They also emphasized the importance of more frequent one-on-one feedback to reinforce employees’ decisions to stay.
Watch The Webinar for more great ideas on how to find and keep quality staff, like:
- Creative hiring incentives, including signing bonuses
- Changes to the hiring process, including assessments
- Compensation challenges
- The lure of remote work, student loan repayment, childcare, unlimited PTO, profit sharing and other perks
By Dan Harrison, Senior Vice President, Benefits, The Miller Group