In 2021 the Great Resignation raised the stakes of the talent war for employers. Today, the landscape is changing yet again. Nearly two-thirds of employers and three-quarters of employees surveyed in one recent study said they believe a recession is coming soon. At the same time, 45 percent of workers who participated in another survey said that “difficulties with finding a new job” is one of the “worst aspects of a recession.” With this in mind, what should HR be doing to ensure robust retention today and in the near future?
Because a business’s most valuable asset is its workforce, employee retention is likely one of its top priorities. In the current job market, though, retention is becoming increasingly difficult. Although many organizations take proactive steps to keep their employees happy after they’ve been onboarded, the best method for achieving high employee retention begins before the first interview—and it’s built around company values. By using five key strategies to bring its core values to life, an organization can attract the applicants who are the best fit for the company’s culture and keep its current employees happy, too.
Offering time off in cultures where it can’t really get taken erodes trust. Offering paid time off for parents is a good start, but what’s their day-to-day experience like when they’re back at work? Can they make it to their kid’s soccer practice and still get promoted down the line? The answer should be yes.
After posting a new position description far and wide, a company often gets hundreds of applications within just a few days. With a mound of resumes to sift through, the hiring manager might worry that by the time they discover the best, most qualified fit, that job seeker may have already moved on to a different opportunity. By the looks of it, recruitment and employee retention won't get easier any time soon. But following these three strategic steps will help organizations hire for retention better and faster than ever before.
A negative perception of what it's like to work in manufacturing is a big reason why employers find it hard to fill their manufacturing jobs with qualified employees. Uncertainty about "fit" and about long-term opportunities, too, are contributing to this talent shortage. To help attract and retain good workers, HR and hiring managers can leverage recruitment software to educate job seekers about the realities of modern manufacturing, to test applicants for desired and necessary skills, and to help new hires and current employees advance in their careers.