How Employers Can Turn the Great Resignation Into Opportunity
Employers get a few more gray hairs every time they hear the term “The Great Resignation.” Why not recognize the opportunity it offers to set yourself apart from the competition?
Raises and bonuses are often the first tactics used to stem the tide of employee attrition. More money is always welcome – wages have lagged behind cost-of-living numbers for decades. But it’s not enough.
Compensation increases are transactional and do little to promote loyalty. If you convince an employee to remain by offering a dollar more an hour, why would they stay if the company down the street offers two? It’s essential to understand why employees leave to respond effectively.
Why Are Employees Resigning in 2022?
Most people aren’t leaving because something new has arisen. They are resigning because they finally have options after years of job dissatisfaction. Employees who leave commonly report they don’t feel valued by their employer or don’t have a good relationship with their manager. Other reasons such as health concerns or family obligations have been exacerbated by the COVID-19 pandemic, particularly among workers who feel their employer handled the pandemic badly.
How Can Companies Turn the Great Resignation Around?
Answer the Question: What’s Next?
Some workers became so frustrated with their employer that they quit without a backup plan. This is the perfect opportunity for recruiting agencies to step in. Individuals who have never worked with a recruitment company may have only a vague sense of what they have to offer.
A recruitment partner gives the recently resigned a bit of breathing room before deciding on their next career move. Temporary jobs keep a steady income coming in and prevent employment gaps. They can take their time finding the ideal opportunity and may even find their next job while on assignment through the agency. Best of all, they are not charged for the service.
Working with a recruiting agency allows them to try many different jobs to get a sense of company culture or leverage transferable skills in various roles. It’s a great way to make a lateral move into another industry by proving themselves on the job.
Improve the Employee Experience
If you consider people your greatest asset, you need to prove it every day. These improvements to the employee experience can help keep your best people and attract new candidates.
- Train managers better. Internal promotions are often based on skills unrelated to managing teams. For example, the top salesperson is promoted to sales manager despite no leadership training or experience. Investing in their success is a win for the new manager, their direct reports, and the company.
- Support your staff. For employees facing the public, managers often take a “the customer is always right” position rather than supporting their employee. Listen to both sides and address any reasonable customer concerns but have a zero-tolerance policy for customers who abuse your employees.
- Walk the DEI walk. Employees from underrepresented populations can tell when your diversity, equity, and inclusion (DEI) policy is a slogan and not a commitment. Hire diversely for all positions, not just entry-level, provide professional development opportunities, and encourage an inclusive and welcoming culture.
- Continue remote/hybrid work. Companies whose workers were just as productive working from home, now expect them to return to the office – a dealbreaker for some employees. If you offer remote work options, feature them prominently in job posts and other recruitment marketing.
Reengage or Retain Retirees
Since the oldest baby boomers reached age 65 in 2011, they have retired at the rate of about two million per year. In 2020, that number jumped to three million, primarily for reasons related to COVID-19. Some missed the camaraderie of the workplace or didn’t enjoy remote work. Health concerns prompted older employees to bump up retirement dates, especially before vaccines became available. Some left to care for grandchildren or other family members.
In many cases, these reasons for leaving their jobs are no longer relevant. Healthy, active, engaged retirees may be feeling regret. Reach out to recent retirees to gauge their interest in returning on a part-time or contract basis. Marketing to retirees should focus on what they want most; job flexibility and a chance to share their knowledge and make a difference.
Give Candidates a 5-Star Experience
It’s easy to tell the difference between a stay at a high-end resort makes and an average chain hotel. Everyone you encounter greets you with a smile and is eager to help. There are thoughtful touches everywhere you turn. Chances are you’re happy with your decision to stay there and are likely to return.
Nurture candidates by giving them this same 5-star experience. Streamline every step of the process to make it quick, intuitive, and simple to navigate. Be attentive throughout recruiting, onboarding, on-assignment, and post-assignment to ensure they’re happy and engaged in their new role. Consider yourself a concierge, ready to respond to their every need. It’s a great way to get new hires off on the right foot.
Become a Destination Employer
Most discussion of the Great Resignation is related to employee retention. Less attention is paid to becoming the company people run to. Workers with no interest in leaving their jobs may reconsider if presented with the right opportunity. Use this knowledge to approach candidates proactively.
Rely on the Four Pillars of Recruitment Marketing
- Career sites. Write great job posts and make it easy to apply. Put yourself in the candidates’ shoes to ensure you consider their WIIFM (What’s in it for me).
- Job advertising. Be sure you get the right message in front of the right people. Investigate programmatic advertising for better ROI and control.
- Social recruiting. Use a variety of content formats and platforms to engage with potential candidates and promote your brand.
- Employment branding. Share your culture, values and what makes your company a great place to work. Testimonials, reviews, and case studies are great ways to prove your value as an employer.
How can we help?
As a Bullhorn Marketplace Partner, Haley Marketing provides recruitment marketing and marketing automation solutions to help your recruiting agency attract, engage, place and redeploy talent – and turn the Great Resignation into a great opportunity for your agency.