Why are candidates disappearing?
February 1, 2022 | Recruiting
Most companies are becoming despondent over not being able to find viable, or even any candidates for open job positions. Over the past two years, a mass exit has taken place with hashtag #thegreatresignation trending in the USA. Why is this?
A staggering 14 million+ employees left their job in 2021. According to the Bureau of Labor statistics, this mass exodus was 60% higher than during the same period in 2020 and 12% higher than 2019.
This article will shed some light as to why the drastic shift has taken place due to the unfortunate and questionable pandemic years.
Reasons Why Employees Leave
Job board giant Indeed surveyed Great Resignation participants who left their jobs from the beginning of the pandemic, as well as recently. The following reasons are why workers resigned originally:
- Remote Work Opportunities – 45%
- Flexibility to Care for Family – 40%
- Flexible Work Hours – 34%
- Inability or refusal to Follow COVID-19 Safety Protocols – 34%
More details about why employees resigned according to recruiting firm, Monzingo Legal:
- The pandemic made employees feel life is too short to stay in a job in which they were not passionate about or where they were not appreciated, or both.
- As requirements for unemployment benefits loosened and amounts increased, they seized the at-home opportunity to convert their ‘side hustle’ into a full time job opportunity/new business.
- The pandemic presented an opportunity to go back to school, learn new skills, and/or change career directions.
- Employees realized how much of their life was returned to them by eliminating a commute and sought other home-based businesses and jobs.
- Family and health became priority #1.
What Employees Are Seeking
The revolving door continues as employees look for greener pastures in the salary hikes and remote jobs that coincide with labor pool shortages and changes. Workers are looking for:
- Flexibility to work all or in part remotely
- Hiring and retention bonuses
- Cost of living increase adjustments
- Higher salaries, incentives, bonuses
- More paid time off (PTO)
- Shorter workweek (Have you considered the 4-day workweek which is trending?)
- Less or no health insurance premium costs to themselves and their families
- Improved benefits plans and perks, such as paid cell phones, gym dues, etc.
- A positive work environment
- Recognition for a job well done (A simple “Thank you” goes a long way.)
- Better work-life balance
- Comradery, culture and supportive environments
- Training and opportunities for advancement
- Employers who trust and support them
- Medical privacy, safety and security
What Employers Can Do to Improve
Remember, as a result of the great resignation, you are the candidate and the employee is the company–meaning they are interviewing YOU as much as you are them. Meeting all of the above needs is the best way to retain valuable employees and recruit new ones.
Priorities have shifted and workers state that they now realize “time is short” and they want to be in a place that appreciates them and that has good working conditions, values, ethics, medical freedoms and higher wages.
After a few years of experiencing with remote schedules, most reports say productivity has increased. A whopping 83% of companies found that adjusting to remote leaders and workers has been successful. It’s time to expand the possibilities of the new era of obtaining and retaining great employees.