There is very likely to be a wave of employees changing jobs over the next twelve months. This “Turnover Tsunami” as characterized by SHRM’s Roy Maurer cites more than 50% of survey respondents planning to look for a new job in 2021, with a quarter of workers planning to leave their jobs when the disruptive effects of the pandemic subside. Similar trends are noted in an ASA study which cites that 80% of job candidates, both active and passive seekers, expect to be working for a new company within the next 12 months. When this wave breaks, the labor marketplace will likely exhibit severe supply disruptions as employers struggle to keep their businesses operating efficiently. Recruiters must be aware of these factors and position themselves to be ready to respond.
There are several steps you can take to prepare for this wave. Most importantly, make sure you have a solid recruiting team in place. Have back-up personnel available who can help handle an increase in workload and prevent delays in servicing the needs of your clients. Having one of your staff call in sick at an inopportune moment can cause you significant grief and loss of credibility. Consider retaining in-house recruiters on contract to service this wave. They can work in your office, or remotely at minimum risk. Try them out. If they work well with your present staff, great! If not, change them out.
If you have people on your team who are reluctant or seem disengaged, be prepared with standby personnel who can step in. You cannot afford to risk your good relationship with your clients by a lackluster response to their labor needs. Similarly, your client may need assistance with their administrative staff. Let your clients know that you are prepared help them with back up for their staff as well. You can offer to help your clients streamline their interviewing process so that a good candidate is not lost when they get frustrated with a sluggish hiring process. Be aware of the supply and demand aspects of the marketplace. There will be fewer qualified workers available, and most of those will already be working and not actively seeking new employment. These “passive” job seekers will be interested in hearing about new job opportunities and could easily opt to make a change.
In a previous article, we cited “recruiter burnout” as an issue of concern. This problem may be made worse by the expected increase in workload from the coming Turnover Tsunami. Consider building an inventory of candidates who can be called on if needed. You might consider bringing on a temp in-house to cover your staff when they are out on a much-needed vacation. If you plan for when someone is out of the office, everyone, your internal and external clients, will be assured that business is being taken care of.
Stay engaged with your applicants and be there for them as opportunities arise. Understand what is driving their willingness to change jobs. SHRM’s Roy Maurer cites the two main reasons as being better compensation and benefits (35%) and better work/life balance (25%). Other traditional reasons include desire for a promotion, development, and major career redirection.
If you keep your organization healthy, you are better placed to help your clients. Pay close attention to the composition of your team and act to ensure you won’t be swimming against the tide of the expected tsunami. You can partner with a back-office provider such as Evergreen Contract Resources to enable you to strengthen your team with contract assistance as well as respond quickly to your client’s needs. Evergreen will keep up with the requirements of the regulatory jurisdictions, so you do not have to. If you are set up in advance, you can provide services immediately. Call Evergreen today, and we will set you up. There is no cost or obligation. Use us when you need us. You can keep your business healthy and keep your clients happy if you BUILD A BETTER TEAM … WITH TEMP AND CONTRACT PLACEMENTS!