The U.S. Bureau of Labor Statistics says that over 47 million Americans quit their jobs in 2021 — this is what’s now known as The Great Resignation.
As there has been a significant increase in the number of vacant positions and the number of workers who have left their position, it makes sense that hiring priorities may have changed.
In this post, we’ll discuss The Great Resignation's impact on hiring with insight from marketing decision-makers and expert HubSpot recruiters.
Has The Great Resignation Impacted Recruiting?
Gabby Reynoso, a Marketing Recruiter, says, “What the great resignation has done is highlight the importance of flexibility, growth opportunities, and work-life balance in the workplace.” She adds that the pandemic has empowered employees, more than ever, to prioritize flexibility, growth opportunities, and work-life balance in the workplace in their current positions and those they are considering.
Kanani Rose, a Senior Sales Recruiter, says, “Anecdotally, I’ve seen a bit of a cool-down in this phenomenon as the market continues to be unpredictable, but I’m certain that one of the long-term effects of the Great Resignation is that workers will continue to be interested in the scope of their work, from a wider lens than just their general job responsibilities.” This can include health insurance, financial benefits, 401K, stock options, work from home stipends — incentives that are becoming just as important as the job itself.
She also says that compensation and job satisfaction were and continue to be top reasons candidates apply for specific positions, but the push that many businesses made to have their employees return to in-person work drove many workers to the job market in search of more flexible work opportunities.
How Has Recruiting Changed Post Great Resignation?
When it comes to the recruiting landscape, candidates are more selective: “Employer branding, pay transparency, and empathy in the recruitment process have all been key strategies on our recruitment team to make sure that we are giving candidates the power to make the best decisions for themselves in a competitive market.”
Rose says, “As a sales recruiter, I’m no stranger to candidates fielding multiple offers during the hiring process, but the market was especially tough in 2022.”
In a recent Glimpse survey, marketing decision-makers in the U.S. have stated that their hiring processes have changed in the past six months, primarily due to the economic changes that arose during the COVID-19 pandemic.
The most commonly reported changes are:
- Having a harder time getting recruitment traffic and finding qualified candidates
- Using more and more virtual resources in the hiring process (like online recruitment tools and video interviews)
- Hiring with remote work in mind as people want more and more flexibility in how they work
- Working harder to fill positions and attract qualified candidates through things like referral bonuses, sign-on bonuses, more time off, etc.
Over to You
As recruiting and finding top talent is likely a top priority for your business, it’s important to stay on top of workforce trends and what employees are expecting from the businesses they choose to work for.
If your hiring and recruiting have taken a significant hit post great resignation, consider how your business can speak to employees' selection criteria when applying for jobs, like offering flexible work options, virtual recruiting, increased benefits, etc. You don’t have to overhaul your entire process, but you can forge a new path to successful recruiting.