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Wednesday, August 17, 2022

This Hiring Approach Will Help You Beat the Great Resignation

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Opinions expressed by Entrepreneur contributors are their own.

Forecasting needs wasn’t exactly easy before the pandemic. Now, predicting hiring demand expectations is becoming increasingly difficult.

Although the 2021 was arguably less volatile than in 2020, it still saw plenty of change. Consequently, as we go further into 2022, we’re facing several impactful unknowns that are clouding the waters. The first pertains to consumer behavior.

As noted in The Wall Street Journal, shoppers responded to sudden hardships by re-prioritizing what mattered. People are switching brand loyalties and millions of employees are simultaneously joining the Great Resignation. As a result, some companies have found themselves with fewer fans while others experienced shortages practically overnight.

Even organizations that have managed to hold onto their people may have undergone major upheaval. Why? Employees across the board have voted with their feet about wanting to remotely, at least part of the time. Companies have responded by trying to create and maintain successful hybrid work models that foster productivity and lower the chances of worker churn.

Global hiring trends will continue to be anything but predictable in the coming year. So what can you do if you’re not able to use pre-2020 metrics to forecast your hiring needs? Take a people-centered approach and assess ways to meet job candidates where they are with these recommendations.

Related: The 7 Staffing Challenges Every Entrepreneur Faces

1. Don’t sleep on staffing fluidity

Many people are reluctant to commit to full-time positions at the moment. Yet they’re eager to ply their trades. Rather than try to force them to give you 100% of their time, offer part-time or nontraditional options.

You certainly won’t be the only on the block that’s adapted in this way. Many companies are creating hybrid work environments that allow for flexible work schedules so staff can optimize their personal and professional time. Even enterprise-level American Express has freshened up its work opportunities to include parent-friendlier work-from-home structures.

At the end of the day, it’s less expensive to keep great performers by giving them a path to grow professionally — even if the path isn’t a classic full-time role.

Related: Improve Employee Retention By Taking a People-First Approach

2. Move to an on-demand workforce

A flexible, on-demand workforce has many advantages over a traditional staffing model, particularly now. On-demand improves your workforce planning because it allows you to budget for assignments, projects and selling spikes. Plus, the trained people working as on-demand employees may be excited to tackle different duties.

New to hiring people for on-demand work? You may want to source your talent from a staffing agency or one of more than 300 portals. Or, if you anticipate needing a cadre of on-demand personnel for the long haul, you could amass your own pool of employees.

Related: Do You Need On-Demand Talent? Here’s How to Know

3. Reimagine attendance protocol

Adults don’t appreciate being treated like children by their employers. They want to be valued based on the quality of their output, not the amount of time they spend at work. In fact, more than one-third of Gallup poll respondents said the ability to take control of their time and calendar played a factor in which jobs they took.

Yes, you want to make sure that duties get handled correctly. Nevertheless, don’t penalize a good employee for not being able to work a full shift every time. Have more of an open mind when it comes to dealing with absences and shift flexibility. Consider brainstorming ways to make sure responsibilities are fulfilled without risking the loss of top-notch professionals.

4. Conduct a wage analysis

Rising and heavy competition have led to major pay rate increases in some sectors. Take the pulse of your own company’s salaries to make sure job seekers see your organization as a desirable place to work.

To start, look at some of the latest wage statistics to get a baseline of where your salaries should be. Don’t be surprised if the market expects higher, though. As a Deloitte survey shows, CFOs say they’ll be bumping up salaries in 2022 by around 5.2%. You can’t afford to be the last business in your field to revise your pay scale.

No one has a crystal ball that can accurately predict all hiring surge trends and needs. However, by taking recent consumer habits into account, you can more confidently lay out a staffing roadmap for the foreseeable future.

Related: Should You Raise Your Employees’ Pay?



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