Countering the wave of layoffs: Five tips for recruiting and retaining employees
The great wave of layoffs, also known as the "Great Resignation," the mass departure of employees due to the Covid 19 pandemic, has left many companies facing major staffing shortages as many employees seek new employment opportunities.
Hiring and retaining employees amid the big wave of layoffs has been a hot topic in many companies lately. The sectors currently seeing the most layoffs are the technology and healthcare industries, where workers between the ages of 30-45 are leading the trend. To attract new employees, companies need to be more flexible than ever and demonstrate that they are willing to evolve in a changing work environment, but also value their current workforce. Just as important as hiring new employees is taking care of the needs of the existing workforce, because a company with a good reputation and satisfied employees is more attractive to job seekers.
Retain employees despite wave of layoffs
According to experts at Hogan Assessments, a provider of consulting and assessment solutions, the wave of resignations has reached a peak. Employers therefore need to take a data-driven approach to find out why employees are choosing to quit and which ones in their organization are at the highest risk of turnover. In addition, he said, there are the following five tips for recruiting and retaining employees. These allow companies to present themselves in the best possible light when filling positions and building the best possible team.
Tip 1: Determine the goals of the applicants
During the hiring process, it is important to focus on each potential applicant's goals and how they fit with a company.
62 % of HR managers believe that employees need to improve their existing skills or acquire new ones at least once a year to maintain a competitive edge in the global labor market. Offering employees the opportunity to develop their skills means investing in their future. Companies must be willing to make this investment and provide new employees with the support and training opportunities they need to advance their careers.
Tip 2: Perceive flexibility in the workforce
The pandemic has shown that people can be just as productive working from home as they are in an office environment. Two out of three employees are now looking for flexible working conditions because they believe it will make them more productive. 30 % of employees worldwide said they would quit their job if they were not offered a long-term flexible hybrid work model. To be competitive in the hiring market, it is important to be responsive to employee preferences and adapt company models to this new world of work. Introducing more flexible working hours will not only make a company more attractive to new applicants, but will also help to meet the needs of your current workforce.
Tip 3: Ask employees for contacts
A pool of well-trained employees who are already working successfully in the company can be an advantage, as they have a network of contacts. Try asking your current employees if they have connections and involve them in the hiring process by asking what they would look for in new candidates. This approach will have a positive impact on employee retention and help engage the workforce in the hiring process.
Tip 4: Show advantages for employees
Many employees feel that management is out of touch with the concerns of the average employee, with 54 % of the general workforce feeling overworked and undervalued. Potential applicants are more inclined to accept a job if they feel the company cares about them and their families. It is important for any company to highlight employee benefits and additional support. Benefits such as mental health care, childcare support and paid time off are just a few examples of how a company can improve employee satisfaction and distinguish itself as a company that values its employees, making it more attractive in the highly competitive HR market.
Tip 5: Emphasize and highlight the purpose of your business
Although benefits and salary are important to potential hires, many employees want to work for a company whose goals and values align with their own. It's important to impress potential hires with what a company does and how it wants to operate. Sustainability strategies, a diverse workforce and programs that support women in the workforce can help set a company apart from others that focus only on the bottom line. It's important for employees to believe in what a company stands for or is trying to achieve, especially in hectic or difficult times. Aligning your hiring strategy with these values will help you find loyal employees who are willing to work hard for the company's vision.
Integrate personality tests
The drive to build a more diverse workforce and attract new talent can be supported by the proper integration of personality testing into the hiring process. According to Hogan Assessments, both sides benefit: Applicants learn more about themselves and experience firsthand how serious a company is about learning about an applicant's individuality. And the companies reduce unconscious prejudices and also offer a contract to those who may not have the "right resume" but still bring with them the best prospects for success.
Source and further information: Hogan Assessments
