March 2022

Succeeding in The Great Resignation

As nearly 4 million workers quit their jobs every month last year, employers are struggling to not only attract new talent but retain the workers they have. This phenomenon has earned the moniker “The Great Resignation” as high turnover continues to be a feature of the labor market nearly two years into the pandemic, which scrambled job opportunities and the types of work people want to do as in-person services become less desirable.

With new hires having multiple opportunities to choose from, the phenomenon of newly hired candidates “ghosting” before their first day on the job has become more common. How can employers prevent or recover from a new employee not showing up for work? One way to help avoid ghosting is to create a strong relationship after the employee signs the job offer but before the first day of work, reaching out to ensure they feel welcome and like a respected member of the team before Day 1. Additionally, employment experts suggest streamlining onboarding procedures to get new employees up and running more quickly. Local Veterans’ Employment Representative (LVER) staff can communicate streamlining onboarding procedures to employers and help them attract and maintain top veteran candidates.

Employers are offering significant compensation increases to attract and retain talent in today’s market. Wages increased 4.7 percent in the 12 months of 2021, compared to the historical average of 2 percent[1]. But many employers aren’t in the financial position to compete on increased wages alone. How can employers attract the kinds of employees they want, especially veterans, with non-financial perks?

One non-financial benefit employers can offer is creating an environment where employees feel like their work makes a difference and have a career path with advancement opportunities. Make clear to a new hire the future in an organization by pairing them with a mentor. The mentor who is a job level or two above the new hire can answer questions about the new role and think through the big picture of where they might want to be in the organization in 2 to 5 years. Consistent, thoughtful employee reviews also allow employees to discuss their career goals and potential growth and development opportunities. LVER staff sharing this ‘new trend’ with employers could go a long way into establishing a long and trusted relationship.

For people in the job market who can be choosy, now is a great time to have candid conversations with employers about what they are really looking for in their next job. Employers might be willing to offer more flexibility, autonomy or even higher pay for the right candidate at the right moment. LVERs can help facilitate this.

[1] U.S. Department of Labor, Jan. 16, 2022 https://www.bls.gov/news.release/empsit.toc.htm

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