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Tag: The Great Resignation

A third of workers looking for a new job

94% of those who quit their jobs have no regrets about leaving

A report from The Conference Board has revealed that as the Great Resignation’s momentum continues, one-third of workers are actively looking for a new job.

According to the report, 94% of those who left their company in 2021 do not regret their decision with respondents stating that if given a choice to return to their previous organization, a quarter said they likely would.

Rebecca Ray, executive VP of Human Capital at The Conference Board commented: “Despite worries of a recession — and the hiring slowdown and layoffs that often result from a downturn — the labor market remains strong. And the robust jobs market is continuing to empower workers. Our survey results reveal [workers] continue to want more flexibility and higher pay, and they’ll go elsewhere to attain these benefits. But slowing economic growth makes the decision to jump ship riskier. To retain talent, companies should work with their employees to determine to what extent they can accommodate their needs.”

Insights from the report include:

Job seeking: The Great Resignation isn’t over. Thirty-one percent of respondents are actively looking for a new job, while 28% are unsure if they will quit in the next six months. Only 38% indicated they would like to stay with their current company.

Flexibility a driver: Seventeen percent of workers stated that they voluntarily left their company within the last year for a flexible work location, flexible work schedule or the ability to work from home/anywhere with other top reasons for quitting were higher pay and career advancement, cited by 22% and 14%, respectively. Thirty-seven percent of individual contributors quit for more flexibility, compared to 18% of CEOs. Additionally, more flexibility, higher pay and career advancement were the top factors that would influence workers’ decision to stay at their company.

Fatigue: Job fatigue is driving workers to quit, especially women and millennials. Eleven percent quit their jobs over the last year because of workload. A quarter of millennials quit because of job fatigue, while 25% of women left because of job fatigue, compared to 13% of men.

Pay expectations: Fifty-two percent of Gen X and 47% of Baby Boomers said higher pay would influence their decision to stay with their organization. Seventy-four percent of millennials said the same. Meanwhile, 61% of individual contributors would likely stay at their organization for higher pay, compared to 22% of CEOs.

CEO turnover: Forty-five percent of CEOs said they left their organization for a stronger connection to mission and purpose, while 36% left because they had greater faith in the positive trajectory of their new company. The survey included more than 1,100 individual professional workers. It was conducted from June 21 to June 28.

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UK towns and cities most affected by the Great Resignation

UK vacancies up 48% year-on-year

The locations with the highest rates of jobseekers have been revealed in a new study. London, Manchester, Birmingham, and towns on London’s commuter belt topped the list. The study results indicate that as offices reopen and daily commuting re-commence, workers are searching for roles closer to home.

The research by job search engine Adzuna also revealed that every advertised London-based job ad received an average of 65 views during April – indicative of high job churn in the capital city and centre of the Great Resignation in the UK.

Second on the list of jobseeker activity was Manchester, with over nine views for every job listing. Birmingham was third at over seven views per ad.

Edinburgh, Scotland, and Cardiff, Wales, also featured on this list, with view rates of 2.5 and 1.83, respectively. Northern Ireland, however, didn’t feature on the list – possibly showing that the Great Resignation has not reached them yet.

Further findings for April 2022 included:

  • Advertised vacancies in the UK were up 48% year-on-year, to 1,298,581.
  • Over half a million vacancies were on offer across London and surrounding areas.
  • The average advertised salary in London and surrounding commutable areas was £45,515.
  • The average advertised UK salary was £36,587 in April. This is 3% lower than 12 months ago (£37,898).
  • The number of advertised vacancies has exceeded the number of job seekers for the first time.

The study also revealed a growing interest in jobs within commuter towns. Slough and Heathrow experienced the fourth-highest jobseeker activity level. While traditionally, workers in these locations would have commuted into London, they are now looking for jobs closer to home. Job ads, on average, received over four views per posting in these areas.

There was also high jobseeker demand in other commuter towns around London:

  • Chelmsford (2.47)
  • Reading (2.45)
  • Guildford and Aldershot (2.07)
  • Luton (1.88)
  • Crawley (1.87)

The commuter belt towns accounted for a fifth of the list of top 30 UK towns and cities with the highest jobseeker activity.

Looking across the UK, England had the highest activity from jobseekers, with an average of 3.6 views per job ad. Rates were much lower across the rest of the UK with Scotland at 0.26, Wales at 0.11 and Northern Ireland at only 0.03.

Paul Lewis, Chief Customer Officer at Adzuna, comments: “London is at the core of the Great Resignation in the UK, but our data reveals the trend is spreading out fast. In particular, jobs in commuter towns are seeing high interest levels driven by a renewed interest from Brits to spend more time at home. As offices have reopened and commutes have restarted, workers are looking for close to home options that will continue to give them the flexibility they got used to over the pandemic and various lockdowns, be that picking the kids up from school, or simply working flexible hours. The return-to-office is a huge driver of the current high movement between jobs, and companies offering fully remote options, or even much publicised ‘work from anywhere’ policies, are stealing a march on the competition and coming out on top.”

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53% of UK job seekers move due bad managers

Good management key to staff retention following the Great Resignation

New research from people analytics company, Visier, has revealed that 43% of UK employees admit to having quit their jobs due to bad management. A further 53% are currently seeking new roles due to their current manager.

In the study of 2,100 workers, 85% agree that good management is key to their happiness at work. Four in ten said they stayed in jobs longer than they planned because they had good relationships with their managers.

The majority of employees surveyed believe that flexible working is beneficial for both workers (74%) and businesses (69%). But while staff enjoy flexible hours and remote work,  it is clear that lack of face-time has been damaging for employee-manager relationships. The main contributors to this are:

  • Lack of face-to-face meetings (51%)
  • Increased working from home (44%)
  • An over-reliance on emails (44%)

Only 48% of workers are comfortable discussing their personal lives with their managers, indicating that leaders are struggling to build strong relationships with their teams.

Daniel Mason, VP EMEA of Visier, commented: “The old cliché – people don’t leave jobs, they leave managers – rings true, and the pandemic has made it harder for leaders to develop personal relationships with employees.”

“This isn’t a case of leaders becoming bad managers overnight, but instead, they are making difficult decisions with less information available to them.”

“The move to remote and hybrid working has starved managers of the opportunity to observe and meet with team members. Face-to-face interactions and other natural moments to develop a rapport are fewer, so managers should look to enhance their toolkit with data and insights to better understand and anticipate employee needs.”

When asked to identify the most valuable traits of a good manager, the most popular responses were as follows:

  • Treating people well (47%)
  • Listening to workers (47%)
  • Showing respect to all members of staff (47%)

On the other hand, the attributes of a bad manager were:

  • Failure to listen (49%)
  • Being unapproachable (47%)
  • Treating other members of staff differently (43%)
  • Shouting at the team (42%)

The most important factors for happiness in the workplace were:

  • Enjoying their work (45%)
  • Good pay (39%)
  • Good colleagues (35%)

Further data revealed that:

Sixty-two percent of the respondents felt that they currently had a good manager, and 45% believed that they could do the job better themselves. This group was questioned as to how they would improve, and their responses were:

  • 53% said they understood the concerns of other employees
  • 46% would treat all members of staff with equal respect
  • 36% would make an effort to get to know the people they manage better

Mason continues: “Businesses have spent the past few decades using data and other innovations to improve customer relationships and increase revenues. Many organisations are yet to harness these methods to better understand their most important asset – employees.”

“Every organisation already has a wealth of people data scattered throughout. Modern tools and analytics can find and organise this data to generate people insights to help you better understand and manage talent. When these insights are combined with other types of data from across the organisation, the result can drive more impactful business outcomes and unlock the next wave of growth and success.”

With employers struggling to fill vacancies and retain key talent following the Great Resignation, it’s clear that good management is essential to staff retention.

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Over two-thirds of workers will return to office if employers pay for the commute

New survey looks at popular issues facing the future of work

According to Emburse’s new YouGov survey of 1,000 British office workers, it was found that 68% of British office workers would consider working from the office full-time if their commute was fully paid for. However, 27% of respondents wouldn’t consider coming back into the office full time, even if costs were covered by their employers.

The survey revealed that two-thirds agreed that Wednesday was the best day to work from the office if given a choice. On the other hand, Friday was the least popular office day at only 10%.

The top incentive to go back to the office was a four-day workweek (59%). Other findings related to incentives included:

  • Fully-paid commute: 52%
  • More paid holidays: 51%
  • Employer-paid lunch in the office: 30%
  • Reimbursement for lunch expenses: 24%
  • Paid childcare on workdays: 14%

The survey also found that most are not concerned about proximity bias, but 24% worry about career prospects.

Kenny Eon, GM and SVP EMEA at Emburse, commented: “The impacts of COVID and the Great Resignation mean that companies need to be more employee-centric in their approach, and humanising the workplace has never been more important. Part of this means ensuring team members get the best possible work environment. Whilst working remotely is certainly convenient for employees, there are clear benefits of having in-person interactions, as well as the cultural importance of bringing teams together. Data clearly shows that they are more productive than audio or video meetings, so there needs to be a balance between convenience and productivity. A relatively small investment from employers could have a significant impact in driving more in-office collaboration.”

“Given the sharp increase in the cost of living, businesses should consider how they can support staff by reducing the financial burden of attending the office in-person. Reimbursing travel and lunches can certainly help do this. It also doesn’t have to mean endless time on paperwork, as expense apps can make the process easy for both the employee and the finance team.”

With inflation reaching a 30-year-high of 7% and national insurance hikes, clearly, commute costs are deterring workers from returning to the office.

Employers will need to observe and respect their employees’ preferences to create a hybrid working arrangement to shape and maintain a productive workforce.

 

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66% of US workers looking for higher paying jobs

75% of employees feel salaries should increase in line with inflation

A recent study by Insight Global, a staffing firm, has revealed that 66% of American workers are concerned they will need to look for a higher paying job in order to keep up with inflation.

The survey took place in March and included 1,005 US workers who are employed full time.

The rise of inflation is also prompting some workers to ask their bosses for flexibility to work from home to save on fuel costs. The survey found that 26% of workers who said they are seriously considering looking for a new job also plan to ask that they be allowed to work from home with 24% of those already working remotely planning to continue doing so most or all of the time until gas prices go down.

Overall, 75% of workers believe employers should increase pay during economic inflation.

Bert Bean, CEO at Insight Global commented: “Leaders need to get ahead of this curve before they see some of their greatest talent leave to explore other career opportunities. The simplest way to ensure your employees are content in their current roles is to ask them. Find out what they need — is it a raise, the ability to work from home or are they feeling disconnected?”

Other findings in the survey included:

  • 56% of American workers feel there are many job openings, but few job opportunities offering pay that can keep up with the rising cost of living.
  • 61% of workers who say they are seriously considering looking for a new job feel there are many job openings, but few job opportunities offering pay that can keep up with the rising cost of living.

Flexible working remains key in navigating the skills shortage crisis as employees will continue to look for roles that offer flexible and support during turbulent economic times.

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Toxic work culture biggest reason for “Great Resignation”

Employees ten times more likely to leave due to toxicity than compensation

With record numbers of resignations in the UK in 2021, new research has found that toxic workplace culture is the most significant reason employees leave their roles.

MIT Sloan Management Review analysed over 1.4 million anonymous employee reviews on the careers website Glassdoor to understand why people left their jobs. According to the research, employees in the US were ten times more likely to leave due to toxicity as opposed to compensation.

The research found that toxic work culture was described as:

  • Non-inclusive
  • Disrespectful
  • Unethical
  • Cut-throat
  • Abusive

According to Glassdoor, a toxic workplace is described as a hostile culture where the offence and intimidation of employees is almost normalised. This hostile environment negatively impacts employee engagement, productivity, and job satisfaction throughout the business and, ultimately, the company’s bottom line.

Glassdoor provides the following suggestions for employees dealing with a toxic work culture:

  • To not stoop to low levels of behaviour – employees should focus on neutrality and completing their work responsibilities.
  • Connect with colleagues who share similar feelings for support while avoiding gossip.
  • Not to allow stress at work to overtake their home life.
  • Protect mental health by taking time outside of work to focus on wellbeing.
  • Create an escape plan for removing themselves from toxic work situations responsibly.
  • Analyse what they don’t like about the role to ensure they do not find themselves in the same situation in their next role.
  • Read reviews of any potential companies to find out what it’s like to work there.

Glassdoor economist, Lauren Thomas, commented: “If 2021 was the Year of Quits for employees, 2022 needs to be the Year of Hires for companies. To do this, employers need to understand why workers are leaving. Toxic workplace culture is a major factor in the record number of resignations – but job seekers are also enjoying more choices than ever when it comes to selecting their next role. Putting employee engagement at the heart of the business is vital to retain staff and maximise productivity.”

With the market still seeing high levels of staff turnover coupled with the lack of skills, employers’ focus should turn to talent retention and internal mobility in order to prevent employees leaving.

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94% of employees feel they must be able to work from anywhere

64% of employees will resign if forced to return to in-person work full time  

According to a recent study called “Adapt to work everywhere” by Topia, a global talent mobility company, has found that office workers overwhelmingly demand flexible work arrangements and will change jobs to get them. In the last year, remote work has evolved from a semi-temporary COVID-19 safety measure to a new normal and an expectation. While most HR professionals recognise the benefits of remote work, the data suggests that tax and immigration compliance remain a greater risk than they realise.

The Adapt study, the third annual one, aims to explore attitudes to remote work, what drives an exceptional candidate experience and how valuable mobility is.  Conducted by CITE Research on behalf of Topia, the study surveyed 1,481 full-time office workers between 22 December 2021 and 11 January 2022. All participants were employed by international firms, were evenly split between the US and the UK and included 299 HR professionals.

Its focus was on “flexible work arrangements,” with the term encompassing any work performed outside the traditional office environment. This included remote work from home, across state and country borders, and on business or leisure trips.

The key findings of 2022 Adapt study include the following:

  1. Failure to allow flexible work arrangements is driving the Great Resignation

Twenty-nine percent of respondents changed jobs in 2021, and 34% are planning to resign in 2022. Lack of flexibility is a major factor, and many employees are disappointed with their organization’s remote work policies.

  • 41% of employees say flexibility to work from home is or was a reason to change jobs. 35% also cited more flexibility to work remotely as a reason to find a new employer.
  • 64% of those forced to return to the office full-time say this makes them more likely to look for a new job.
  • Although 82% of employers have a remote work policy, 48% of employees feel that mobility policies are in place just to make remote work applications easier to reject.
  1. When choosing an employer, flexibility is a top priority

There is little interest in returning to the office full-time in both the UK and the US. Public health, originally the impetus for remote work, is no longer relevant. The freedom, technology, and autonomy to work from anywhere is central to the ideal employee experience.

  • Asked what they look for in a new employer, respondents rank flexible work arrangements as the third most important attribute—after high pay and a focus on employee wellbeing.
  • 96% of employees feel that flexibility in working arrangements is important when seeking a new job.
  • 56% of respondents say the flexibility to work in whatever location they want defines an “exceptional employee experience.”
  1. For most organizations, flexible work remains an unsolved compliance challenge

In 2021, 60% of HR professionals were confident they knew where most of their employees were located. That number fell to 46% in 2022. HR still has a blind spot in determining where employees are working and for how long. The resulting tax and immigration compliance risks are significant.

  • 40% of HR professionals discovered employees working from outside their home state or country.
  • 66% of employees admit to not reporting all the days they work outside their home state or country.
  • Nevertheless, 90% of HR professionals are confident that employees will self-report such days.

Steve Black, co-founder and Chief Strategy Officer of Topia commented: “It’s clear that remote work is here to stay, and our Adapt study suggests that if companies say no to flexible work arrangements, they will lose talented people and struggle to replace them. To provide an exceptional employee experience, organisations need technology that welcomes employees to explore, request and pursue remote work opportunities. The back-end compliance needs to be automated and accommodating of employees who change locations frequently.”

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Is the main reason for The Great Resignation workplace stress?

50% of workers are relying on savings following resignation  

According to the collaborative learning platform 360Learning, nearly 40% of workers across the UK who have either quit their jobs in the past year or are thinking about leaving said that they had asked their bosses for pay rises, more growth opportunities, or more fulfilling work but had been turned down.  

Instead of leaving their jobs for better positions, however, over 50% of workers surveyed said they are or will be relying on savings to make ends meet with some stating that they’re being financially supported by their partners (21%) or family (15%), while Universal Credit and retirement benefits are the chosen route for others.   

When asked why they had quit or were planning to quit, 23% cited feeling burned out or stressed; 21% said they were unfulfilled, yet only 13% said it was because of low salaries. This compared to the US where low salaries were the main reason (22%) people changed jobs compared to burnout (18%) and lacking fulfilment (18%). Another 11% of respondents said they resigned because they wanted to work remotely and their employer would not allow them to do so.  

Learning and development continues to be important to workers with 72% of respondents in management roles quitting because they felt they lacked the adequate training and support to help them manage workplace stress better.  

Respondents were asked what training they’d like with responses including being given the opportunity to develop managerial skills, upskill within their role, courses on how to grow within the company and guidance on how to adapt to the changing nature of work.  

According to results, among the managers in the surveyed group, 44% said they didn’t receive adequate training at any point as part of their role. Nearly one third (29%) said they were disappointed with their onboarding training specifically and 38% felt that their onboarding was not tailored to their role.

Of those who said they lacked fulfilment in their current role, one fifth said their job was boring and another fifth said there wasn’t any room for career development. A further 14% added that the job wasn’t teaching them anything new.  

The underlying reasons behind the UK’s Great Resignation 

The survey results come as people apparently quit their jobs in droves – a trend that has been dubbed The Great Resignation although there are many industry leaders who are not sold on the concept…  

Analysis by Deutsche Bank at the start of 2022 found that the UK’s resignation rate is the highest it’s been since 2009, with redundancies at their lowest level since the mid-90s and open vacancies the highest on record. In the US, experts have previously attributed the phenomenon to a lack of adequate childcare, as well as health concerns around COVID-19 however, the survey by 360Learning’s has revealed that it is a different situation in the UK.  

It doesn’t appear to make much of a difference whether someone has children or not as 45% of those surveyed who had quit their jobs, or were thinking about leaving, were childless, whilst for those who had between one to six children, the number was 47%. These findings suggest that the factors behind leaving or wanting to leave a role are more multifaceted than simply childcare.  

The survey results also showed that health concerns were one of the smallest driving factors for quitting a job, with only 11% citing the pandemic as their reason for resignation, for example, because they wanted to work remotely but their employer wouldn’t let them. 

The remote working conundrum  

The arrival of the pandemic was, however, cited as a major concern among 33% of respondents when asked why they wanted to work remotely. The majority (63%) of respondents who have been working remotely said they felt more engaged with their employer after making the switch from working full-time in an office.    

 In what could, however, be seen as a positive outcome of the Great Resignation, 33% of those surveyed who have quit their jobs, or plan to, said they plan to start their own business rather than find another role. Almost a quarter plan to go freelance – perhaps to be their own boss, control their hours and stress.    

 Nick Hernandez, founder and CEO at 360Learning, said: “It’s clear there is a major disconnect between workers and their employers right now. This disconnect comes down to poor communication on behalf of employers, poor training practices, and a lack of meaningful opportunities for employee growth. Our survey shows that people are craving flexibility and knowledge, as well as the chance to learn with – and from – their peers. When people don’t feel like these needs are being met, they choose unemployment and rely on savings over staying in a job where they are unhappy. This shows us we’re in the middle of a major shift in how successful organizations are engaging and retaining their top talent. We need to give people the chance to learn from their peers and grow in their roles by upskilling from within. For employers concerned about losing staff, or who are competing to secure talent in a competitive job market, this should be a wake-up call to look at how you encourage staff from day one.”  

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A mere 4% of workers want to return to the office full time

Employers must adapt to hybrid working to stave off loss of talent

An employee benefits survey conducted by London- and Machester-based tech recruitment firm Burns Sheehan, PixelMax, has revealed that only 4% of employees want to return to the office full time, 82% of employees prefer a hybrid model while 59% rate work-from-home flexibility as the number one choice in employee benefits. Following these findings, PixelMax, a British tech company believes that the virtual workplace is the solution to stemming the supposed “Great Resignation”.

They say that survey results show that if employers don’t empower their employees and adapt to rapidly changing working landscapes, they will lose their existing talent and fail to attract new talent.

The Great Resignation continues to make headline news since record numbers of staff are reported to either leave, walk out of their jobs voluntarily, or opt to work part time as they re-evaluate their work/life balance following the turmoil of the pandemic.

Other results to come out of the employee benefits survey found that 25% of those polled wanted a learning and development budget, 22% a clearly defined career path, 19% favouring an annual bonus, 17% wanting childcare flexibility and least important, 12% wanting share options.

During the pandemic, employees were just expected to adapt to a new regime of working fully remotely, with employers not aware of the consequences and underlying issues that would affect their employees. Many were suffering from Zoom and Teams fatigue, isolation, burnout, disengagement with their office workplace and a lack of social interaction with colleagues. This in itself brought to the surface many issues of wider mental health aspects and well-being, with many employers not understanding how this was impacting on their workforce. Many employees complained of not being able to detach themselves from their work and home life and feeling that they were not able to switch off, while others missed the office culture. The culmination of these issues resulted in the Big Resignation.

Rob Hilton CEO and Co-Founder of PixelMax, commented: “In order for business and industry to retain the best talent, they need to rethink the workplace environment. It needs to reflect a modern hybrid of the office and remote working from any location but interconnected within a platform that is engaging to all employees and makes them feel connected to their work colleagues, whether that be in the physical sense in the office or from their remote location.”

Employers need to radically rethink how to manage staff both in an office environment and remotely. Throughout the pandemic, employers were slow to adapt the workplace environment and to understand the wider issues their employees were facing in remote working environments. If employers don’t act quickly, they will get left behind because hybrid working is expected by employees.

Burns Sheehan Co-Founder, Jon Sheehan, also weighed in: “The tech hiring market has been the busiest Burns Sheehan have ever seen. I’ve never seen anything like this in the market before; most candidates will have four to five job opportunities and firm job offers on the go within 24 hours. This isn’t even about bigger salaries; that’s just a side perk. Employees are much more focussed on their work-life balance and wider aspirations in the working environment.

“This is very much an employees’ market, driven by employees calling the shots. Many are opting for a virtual workplace model, where they have the option to work from home and the office of their choosing, but also still to remain connected to the office environment even whilst working remotely. If employers don’t embrace this new model of working, then the ones who have adapted quickly to change will have the commercial advantage of hiring and retaining the best talent.”

 

 

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Two million workers retired during the pandemic

The Great Escape and The Great Resignation result in mass exodus of workers
According to a new report by Kincannon & Reed, the disruption and upheaval caused by the pandemic during the last two years has resulted in a dramatic ripple effect across many industries, including those that ensure a safe, secure and abundant food system. Supply chain disruptions, labor shortages, implementation of safety equipment and protocols, along with the fact that stay-at-home orders upended standard operating procedures and forced on-the-spot decision making for all levels of the workforce. This, coupled with endless Zoom calls and dealing with on-edge customers and consumers, and simply supporting teams manage the ‘new normal’ made for an environment that business leaders have never seen before. It’s enough to make a person throw in the towel. And many have.

The pandemic has forced members of the workforce to take stock and re-prioritize their lives and careers – leading to a mass exodus of staff that the HR industry has dubbed “The Great Resignation”.

Scott A. Scanlon, CEO of Hunt Scanlon Media, has called it the ‘Great Escape.’ Older workers have also taken advantage of early retirement as part of the normal employment work cycle. According to the New School’s Schwartz Center for Economic Policy Analysis, roughly two million more people than expected have joined the ranks of the retired during the pandemic.

With skills shortages and The Great Resignation hammering the market, questions we should be asking are: How should company leaders manage an unexpected exodus? How can they attract new talent while also retaining the great leaders?

Kincannon & Reed’s Carolyn Schubert, Managing Director, and Jim Gerardot, managing partner, say leaders should consider five key points as they navigate this constantly evolving environment:

1. Prepare Talent for Leadership

“Many senior leaders retire for various reasons,” said Ms. Schubert. “It’s a double whammy for an industry that has also been a victim of the Great Resignation. The problem is the industry hasn’t done a very good job of succession planning and preparing others within their ranks to take on leadership roles. Companies need to put a solid succession plan in place to train, keep and promote talent.”

2. Treat Recruits Like CEOs

Ms. Schubert says the fact that there simply aren’t a lot of people changing jobs has created a talent war. “To attract and retain the best of the best, you must be forthcoming with candidates and let them know what’s possible beyond the job you’re recruiting for,” she said. “Act like you’re recruiting for a CEO job because the candidate you’re interviewing could be your next one.”

“During the recruiting process, share your financials, strategic vision and long-term goals; give candidates an opportunity to interact with board members,” said Ms. Schubert. “Make them feel important and let them know they’ll be a part of the organization in a larger way.”

3. Show Them the Money

Mr. Geradot says that today’s candidates are looking at total compensation – short and long term. “They are seeking and comparing specifics on benefit packages, relocation incentives, signing bonuses, as well as long-term incentives – all considerations when looking to attract top candidates in today’s market,” he said.

4. Be Transparent

“Be fully transparent about company culture, structure, and benefits, and the future,” said Mr. Geradot. “The current war for talent means the brightest prospects are inundated with opportunities, so they’re being selective and doing their homework to better understand a company before they step foot in the door (or log onto Zoom) for an interview.”

5. Prepare to Sell Yourself

There was a time when companies, particularly legacy companies, had the attitude: “The top candidates will want to work for us,” said Mr. Geradot. But that’s not the case anymore.

“Instead of potential employees having to sell companies on the value they can bring, the tables have turned,” he said. “Companies are in the hot seat – having to prove themselves – and start-ups seem to have a leg up on speaking to culture, values, purpose, and perks.”

 

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