We’ve come a long way from the Zoom-dominated lockdowns of 2020. And as the end of the pandemic seems to be finally in sight, the economy is starting to look brighter. Unfortunately, many companies are faced with the challenge of a shifting workforce. Based on past economic recoveries, many human resources experts are predicting that turnover rates will rise. Dubbed “the Great Resignation,” the mass turnover currently underway poses unprecedented challenges across sectors.
But with a good plan and the help of our technical recruiting services at One Tech Engineering, weathering the recovery can be easier than anticipated. In this post, we’ll break down what to expect during the Great Resignation and how we can help your firm get to the other side as smoothly as possible.
Unprecedented Job Turnover
The first thing to understand about the current job market is that there is a lot of speculation and misinformation out there. The problem with speculating about the reason for the turnover is that it can cause employers to act on faulty assumptions that cost an organization the chance to hire solid talent. However, understanding some of the forces behind the current turnover rate can be the key to bringing in quality employees that help to elevate an organization’s bottom line.
Understanding the Turnover’s Causes
Unlike typical economic downturns which impact the housing and stock markets, the pandemic saw a booming stock market and housing market. Retail stores have also been quick on the recovery in the wake of the lockdown. And despite a period of mass furloughs and layoffs, the demand for labor has seen a powerful rebound. Nonetheless, millions of positions remain open, with employers struggling to fill positions. To add even more pressure, with the demand for employment hitting hard and fast, many employees are walking away from their current jobs for fresh opportunities.
Experts say these are some of the forces behind the mass resignation:
● Employees are looking for better work-life balance after spending more time at home.
● Many are changing career paths to accommodate a more family-oriented lifestyle.
● Millions enrolled in higher education during the pandemic.
● Many employees who were considering a longer-term change are choosing to take advantage of the leverage they currently have.
Adapting to the Post-Pandemic Hiring Market
To retain as many good employees as possible, experts advise employers to adopt flexibility and policies that support a healthy work-life balance. This can include offering parental leave, child care assistance, and flexible work schedules. Cash bonuses and pay increases can also be excellent incentives. And finally, working with professional technical recruiting services can be a great way to fill positions with talent that matches your firm’s needs and opportunities.
One Tech Engineering offers contract-to-direct hire opportunities and a benefits package to help local and national companies through this challenging time for recruiters. We recruit a wide range of roles including structural designer jobs, mechanical engineering, technical drafting, and more. Connect with our recruiters at 952.884.9199, or contact us online to discuss your recruiting needs today.