The workforce of today is very different than pre-2020. Covid-19 ushered in an era of upheaval in the workplace; what many people thought might be a brief interruption in “business as usual” turned out to be nearly a three-year period of time when our workforce and society fundamentally changed.
Too many businesses closed down as result of the effects of Covid. Many others downsized, laid off workers, and found other ways to adapt to this new reality. Remote working, which was far less prevalent pre-Covid, became commonplace. And as our workforce attempts to “get back to normal” in 2023, we continue to work through a significantly different workplace environment.
As employers look to rebuild, one of the first steps is to add new talent to their teams – as well as doing all they can to retain their current team.
What challenges do employers face in this market when it comes to hiring and retaining?
A report by Indeed says that 84% of employees and job seekers are open to new opportunities, with both active job seekers looking for new roles as well as people currently employed but would be open to something new.
With that said, employers must always be striving to build loyalty among their employees.
The Indeed report asked job-seekers what their top priorities are, and flexibility ranked highly on would-be employees' “wish list” (52% saying it is one of the most important benefits they consider in accepting a job). The report further states that 33% choose it as one of their top three factors in applying for a new position.
It’s important to remember that flexibility and working remotely are not the same. Not all companies are organized in ways that make remote working conducive to their goals.
The ability to work remotely does figure prominently among job seekers, but much more figures into the would-be employee’s “wish list.”
A Gallup survey recently asked 13,085 U.S. employees what was most important to them when deciding whether to accept a new job offered by a new employer.
The study shows that compensation and well-being issues are among the top concerns, including a position that plays to their strengths.
Popular “perks” or benefits mentioned in numerous studies include affordable health insurance, retirement savings plans, some sort of paid time off provision, paid parental leave, and life insurance.
Beyond these considerations, and compensation, prospective employees also say that a company’s image matters to them, as does the culture of the company.
Our CEO, Chip Miceli, led a discussion recently in Chicago among second-generation members of family businesses in our industry, some of whom are in the line of succession in their businesses, and the group talked about the challenges of recruiting and retaining talent in the industry.
Whatever industry you are in, though, there are lessons that can be learned from what these surveys reveal. And from our own experience, employers seeking to tap into that talent market out in the workforce should consider:
- Company culture is important: if you don’t have one, form a Culture Committee where open and honest discussion about how to boost morale and make your company a great place to work takes place. At Pulse Technology, we have a Culture Committee and it has paid huge dividends, in fact helping us to be a “Best Places to Work” winner two years in a row.
- Be sure that your website and external marketing is up to date and reflect the great work that your company does. Show why your company is a great place to work. Be sure to include the ways in which you give back to the community.
- Let prospective employees know that employees are your company are valued – that they are listened to, that they are given roles that challenge them professionally and allow them to thrive, and that you offer a career and not “just a job.”
- And don’t forget your existing employees! Employees want to feel connected, that they matter to an organization, and that they are valued.
In future blogs, we may address some of these individual points in more detail. If you are hiring, best of luck in the search. And if you need any help getting your technology (IT) and other office support services up to their top level, or perhaps an upgrade to your office furniture to make that positive first impression for your new hires, contact us at info@pulsetechnology.com or give us a call at (888) 357-4277. We look forward to hearing from you!
