Hiring and Retention Best Practices to Thrive in 2022
Businesses have been struggling with employee recruitment and retention for months, but surveys suggest that many companies are unwilling to change their strategy to improve their success with hiring and retention.
Month after month businesses have reported significant difficulties with staffing and the same can be said of turnover and quit rates across all industries. We’ve compiled our top three best practices for organizations to consider to be competitive in the war on talent and drive existing employee retention.
Focus on Training & Development
One of the biggest mistakes made in today’s tight hiring climate is a lack of focus on training and upskilling. This issue not only limits your talent pool, but it also creates problems with your existing workforce, contributing to higher turnover and more openings, which becomes an expensive reoccurring cycle if left unaddressed. To win in the current ultra-competitive talent market, employers should invest in training and development as employees are looking to their employer to provide the training necessary to advance in their careers. Companies across all industries are battling for talent and those who are unwilling to train and upskill their workforce, should expect employees to begin to look for an employer who will train and upskill. According to the latest American Staffing Association Workforce Monitor, 80% of employed U.S. adults consider an employer’s professional development and training offerings as an important factor when accepting a new job. However, only 39% of U.S. adults believe their current employer is providing the training and development they need to advance in their career. This dramatic disconnect between employee and employer presents a massive opportunity for those companies willing to enhance their training options and position themselves as an employer of choice.
Explore New Talent Pools
Another area common mistake we see among employers in the quest to obtain top talent is repeatedly tapping into the same talent pools. The current hiring environment moves at a much faster pace and there is considerably more competition than that of the pre-pandemic era, which means the candidate pools that worked in the past are not as strong as they were in 2019. There is a significant amount of opportunity for companies who are willing to expand their applicant pool by changing job descriptions or exploring new channels and strategies for sourcing talent as only 38% of employers are currently implementing these necessary changes. A few ways to change up your hiring strategy include, rethinking experience or degree requirements, partnering with local level organizations and state-wide programs to identify untapped talent sources and finding new digital channels to promote your jobs, social media for instance has become even more important since the start of the pandemic.
Emphasis on Culture and Flexibility
In a job seeker driven market, organizations can simply not ignore the fact that the needs of top talent have changed dramatically since the pandemic began in 2020. Flexibility is at the top of job seekers’ wish lists and this isn’t something they are willing to compromise. During the height of the pandemic many people achieved a work/life balance that they previously only dreamed of attaining, which wasn’t possible due to the demands of their daily commute and being confined to their desk for 40+ hours a week. The transition to remote work has provided flexibility that allows employees more time for themselves and their families and they are not willing to give that up. Companies who remain rigid and hold firm to pre-pandemic policies could find themselves on the losing side as more businesses embrace permanent remote or hybrid-remote (combination of remote and in-office) options. However, flexible working isn’t the only priority of job seekers. Many candidates are focused on obtaining employment with an organization that aligns with their personal values. The pandemic empowered people to reassess what is truly important to them. Many people now want to commit to companies who provide fulfilling jobs, have compelling diversity, equity and inclusion initiatives or commitments to sustainability, philanthropy or social impact. For some this alignment is so critical that they will leave higher paying jobs or a life in the corporate fast lane for a more purposeful career with a company they truly believe in.
If you’ve been struggling with recruitment and retention, now is the time for proper introspection. Take an honest look at your organization and ask yourself how you stack up when it comes to training and development, leveraging diversified talent pools and company culture. If you’re unsure where to start, consider conducting an employee engagement survey to gage how the company is doing and where it can improve. For additional support with recruitment and staffing, partner with HotFoot Recruiters, our team of industry specific staffing experts maximizes the potential of your most valuable asset, your people. Contact our team by visiting our website hotfootrecruiters.com or call 480-633-3392.
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