Many businesses are struggling to hire and retain their workers. How can employers make it easier to recruit and hold on to their talented employees? Our human capital management partner, isolved, offers this look into engagement tools and trends that will help improve your employees’ performance and make them less likely to look elsewhere for employment.
Let’s face it, running a business has come with its fair share of challenges over the last year. Now, as businesses are ramping up, a unique challenge has surfaced: finding and keeping employees.
The demand for jobs is outpacing the supply of candidates ready to sign on. Almost half of the small businesses surveyed last month by the National Federation of Independent Business stated they were struggling to fill openings. The latest U.S. Department of Labor numbers offer one explanation. While there are currently eight million job openings for the 9.3 million people unemployed, many people looking for work aren’t qualified.
And when it comes to keeping employees, the picture is pretty grim if recent headlines are an indicator. The Big Reset. The Great Resignation Wave. The Looming Employee Exodus. You get the point. Though hyperbolic sounding – they are headlines after all – these depictions accurately capture the current state of the talent landscape, and how it has fundamentally changed.
Early this year Edelman Data x Intelligence, an independent research firm, conducted the Work Trend Index Survey among 31,092 full-time employees across 31 markets. Leveraging trillions of Microsoft 365 and LinkedIn productivity and labor data points, survey insights revealed that many employees believe they are at a crossroads. Key results show 41 percent of the respondents said they’re considering leaving their current employer this year and 46 percent are planning to make a major pivot or career transition.
The simple fact is employees are seeking more meaningful work.
As a result, more employees have decisively calculated their next career move. Now, as their world is opening up, they are actively focused on obtaining more purposeful and meaningful work.
Albert Einstein wisely stated, “in the midst of every crisis lies opportunity.” This looming crisis is no exception. Now is the right time for your clients to systematically tackle both the current talent shortage and impending employee flight risk. How? By rethinking the employee experience.
Fortunately, HR leaders are ready. In the recent isolved survey – an analysis of 500 HR departments – 92 percent of HR leaders said that employee experience was a top priority for them in 2021. Employee experience ranked as their top choice for how they can improve company culture.
Enhancing employee experience rests upon authentic communication, connection, and recognition. Knowing this, HR leaders are well poised to help their organizations gain the competitive edge needed for securing and cultivating the best and most diverse talent. Setting up your clients with the right technology and tools is critical for them to realize the full power of employee engagement.
isolved offers proven tools for taking the pulse of employees, fostering collaboration and productivity, recognizing and rewarding good work, and supporting employee giving and volunteering efforts. Together these solutions elevate purpose and meaning in the workplace.