On March 13, 2020, numerous employees were asked to work from home owing to the COVID-19 pandemic, which had only emerged two years before. Some workers were able to work remotely for a short period, while others discovered that they never intended to return to the office in the first place.
Two years ago, COVID-19 shook the workforce, and we’re still feeling its impacts today. The shift in candidate priorities, the Great Resignation, and the emergence of a new job-hopping economy are all examples of these effects. Businesses have had to adjust to those developments as well.
Only half the fight is won when these modifications are discovered. The other half entails responding to these changes to stay competitive and attract top people.
A Shift in Candidate Priorities
Many individuals found that not getting up an hour earlier to drive to work helped them achieve a better work-life balance after being forced to work remotely to control the spread of COVID-19. Instead of catching the metro home, they might have used the time to wrap up a work assignment or do the laundry.
Many individuals were enamored with the new work-life balance and prioritized it while searching for new jobs.
A shift in candidates’ objectives has been noted, People’s primary concern has shifted away from financial rewards. Working from home, gaining new skill sets, and finding work-life balance are becoming more popular options for individuals who have become tired of their current position.
According to a recent poll that indicated 24% of respondents would like to work from home one to four days per week, many workers would want to work from home one to four days per week. According to another study, 55% of applicants claimed that obtaining flexibility in a job is their top goal, while 52% responded that more compensation was essential.
However, despite the advantages of working from home, many organizations insist on forcing their staff to go to work five days a week. Some people are attempting to create a hybrid work-life balance. When developing these kinds of rules, organizations must be cautious to ensure that they are in line with the wishes of their workers.
Your workers may seek elsewhere if you don’t assess what they value most in a work environment. On the other hand, if you’re searching for methods to attract new talent, you may consider giving flexible working hours if you can’t offer a higher salary.
The Great Resignation
However, although corporations were still figuring things out in their first year after the COVID-19 epidemic, there was a fierce battle for top personnel in their second year. There was a scramble in the candidate’s market for top talent.
Over 38 million people resigned from their jobs in 2021, and many individuals are still resigning to pursue a new job that better fits their needs. Many businesses are trying to discover new strategies to recruit employees despite the massive exodus.
Some companies provide big sign-on bonuses, while others increase their pay. For example, some companies give good healthcare and additional paid time off (PTO). Some are offering remote or blended schedules. In other cases, companies make it easy for job seekers to apply.
Now that we’re all working from home, it’s easier than ever to apply for a job and get an interview. We have access to video technologies such as GoRemote, Zoom, which allow us to conduct interviews without driving to the workplace.
To stay up with the Great Resignation, ensure you’re using the most up-to-date recruitment technologies, know where to find applicants, have strong employer branding, and have competitive job offers. Spend some time thinking about how to keep your employees. Send out anonymous questionnaires and maintain track of employee emotions if you want to assess present contentment.
On the other hand, the job hopper economy is a factor in the Great Resignation.
The Economy of the Job-Hopper
Thanks to the job hopper economy, people aren’t staying at their jobs for as long as they used to. Six out of ten millennial applicants say they’re open to new job options if the perfect one comes along.
In this day and age of working from anywhere, hiring from anywhere, and interviews conducted entirely online, workers have no excuse to search for new employment opportunities.
Recruiter.com forecasts a $50 billion rise in expenditure in 2022 due to this ongoing demand for recruiting. Recruiting expenditures need to be reevaluated to ensure that companies can keep pace with the rising demand for new employees.
Even though most of us had no idea the epidemic was coming, we’ve managed to cope and adapt. Unicorn.io can assist you if you need assistance adjusting, whether you’re advertising jobs on job boards, sourcing applicants, or recruiting them. We can help you discover the right recruitment solution for you, so contact us now!