A recent study by global management consulting firm McKinsey & Co. reports 40% of employees want more than just a paycheck to give their lives meaning.
These people are ready to walk out the door, even without another job lined up, because they’re not getting fulfillment from their employment. COVID-induced stresses have helped them re-prioritize their mindsets to understand there’s more to life than just the 9-5 grind.
The report says over 15 million US workers have quit their jobs since April 2021, a record pace disrupting businesses everywhere. Companies are struggling to address the problem for one simple reason: they don’t understand why their employees are leaving in the first place.
Help Wanted ads are at an all-time high, and businesses of every stripe are struggling
to bridge the gaps. Seemingly everywhere I turn, I’m hearing about employers unable to hire. Some don’t want to raise wages; others insist staff who want to work remotely MUST be on-site.
You get the idea.
You, too, may be having trouble finding employees. Therefore, as a public service I’m providing the eight factors most likely to attract workers to your door (more than one may apply):
- Long-term job security (48%)
- Salary and benefits (58%)
- Pleasant work atmosphere (45%)
- Career progression opportunity (35%)
- Financially healthy employer (33%)
- Flexible working schedules (31%)
- Good training (28%)
- Strong leadership (26%)
To improve your chances, talk about all the benefits you provide (hiring bonuses, educational credits, discounted clothing, etc.) Examine what your competitors do to recruit employees and “borrow” some ideas.
If you’ve got a great corporate culture, be sure to trumpet the news to the world.
Start promoting yourself to your staff, and don’t assume they understand all the great things you do. Otherwise, you may find they’re going elsewhere looking for it.
Then ask departing employees what you could have improved, and take their advice seriously.
Next, use this list to get the word out appealing to prospective employees. Use social media, Glass Door reviews, publicity, website landing pages, and online advertising.
As for those hiring bonuses, consider offering matching bonuses to current staffers who recruit a friend. Then offer a little more for a second friend that month. Repeat until your staffing challenges have been met.
Because, like most business issues, solving this just takes some imagination.