Employee attraction and retention have become major obstacles for most employers during the pandemic era and will likely continue to complicate organizations’ race for talent in 2022. In today’s employment market, employers face several unique challenges, such as dealing with high attrition levels, meeting employees’ current desires and recruiting candidates with the right skill sets. Understanding today’s employee retention challenges must be a top priority!
Over 85% of employers today consider attraction and retention somewhat of a challenge.
Three-quarters of employers consider attracting and retaining employees a top-five business challenge.
Source: Zywave’s 2022 Attraction and Retention Employer Pulse Survey
Evolving Employee Desires
Many American employees took new jobs or switched careers last year, and that trend is expected to continue throughout the pandemic and beyond. What used to be known as the “Great Resignation” is now becoming the “Great Reshuffle” as workers are taking deliberate steps toward career paths that match their needs. LinkedIn reports that 59% of employees are deciding to either actively look or begin to think about a career switch. So, what do workers want?
According to LinkedIn’s 2022 Global Talent Trends report, some of the top desires of employees include the following:
- 59%—Professional development opportunities
- 48%—Flexible work support
- 42%—Mental health and wellness
- 35%—Training managers to lead remote and hybrid teams
- 26%—Diversity and inclusion
Workers are undoubtedly rethinking their priorities and relationships with employers and are ready to walk away from organizations that don’t value physical and emotional well- being. As such, employers have an opportunity to evolve with employees and offer attractive perks or resources.
Lack of Qualified Candidates
In general, attracting employees is an obstacle for employers in today’s labor market. However, even employers receiving high numbers of applications are struggling to find workers with the right skills and experience for the organization’s roles. To address today’s skills gaps, some organizations are pursuing learning and development opportunities and reskilling current talent. This strategy can combat labor challenges as many employees are interested in learning and professional growth opportunities.
What Employers Can Do to Address Employee Retention Challenges
In general, today’s employees want competitive compensation and benefits, learning and development opportunities, work-life balance, flexible work options and mental health support. To inform retention strategies, organizations can listen to their current employees about what they want and need from an employer. Although the Great Reshuffle is a retention challenge for many employers, it can also be viewed as an excellent opportunity to capitalize on workers who are reconsidering jobs. From a recruitment perspective, many of these strategies can also bolster an employer’s abilities to win over workers. Discover more ideas for creating an effective retention plan.
The pandemic allowed many people to rethink their values and make significant life changes, including job or career switches. If an employer doesn’t offer what today’s employees are looking for, they may start looking to work elsewhere. As a result, employers are tasked with meeting these needs as they plan their post-pandemic workplaces and review talent strategies.
Contact us today for additional workplace strategy guidance to help you better understand the employee retention challenges many businesses are facing today.