Flipping the Script on the Great Resignation

The term “Great Resignation” may have been coined last year in May, but the phenomenon still rings true today in October 2022. HR executives across industries have continued to combat the challenges of high turnover, labor shortages, and soaring wages in the aftermath of the pandemic and beyond. With the job market showing no signs of cooling down, we connected with top HR leaders to share ideas on how to flip the script and turn labor market challenges into opportunities. Here’s what they had to say.

Consider Hiring Outside Your Industry

Gone are the days when recruiters would only screen candidates with prior industry-specific experience. A recent Career Builder survey revealed that 62% of employed adults expressed interest in moving into an entirely new industry; a statistic that resonated with the group. One leader shared that they’ve trained their hiring managers to prioritize individuals who apply outside of their current industry, as that candidate took the time to submit an application for a reason and should be considered for the role.

Chances are, candidates interested in moving into your industry are looking for a fresh start and would bring valuable, transferable skills to your organization, along with a new perspective. Seize these opportunities and hire for potential.

Offer Alternative Scheduling

The pandemic shifted not only the way people work, but also the timeframes during which people prefer to work. Depending on the demands of family and personal life, some employees might find four 10-hour days desirable, while others prefer working in the early mornings, evenings or weekends. According to one HR executive from the higher education industry who attended the forum, offering part-time opportunities for evenings and weekends has proven to be successful for their organization. These arrangements will depend on your organization’s business and industry, but introducing non-traditional schedules and part-time jobs could be a great opportunity to broaden your talent pool.

Embrace Technology

If your recruiting team is spread so thin that it is challenging to build a candidate pipeline, you’re not alone. One executive voiced that to combat this challenge, they are piloting the use of Artificial Intelligence (AI) to screen candidates. The back-and-forth of scheduling is nonexistent with AI because the screening process can take place during the candidates’ preferred time, whether inside or outside of regular work hours. Recruiting managers can then get involved after candidates have been screened, offering a high-touch experience for top applicants who move further along in the process.

The HR executives also shared best practices when it comes to selecting and implementing an Applicant Tracking Systems (ATS). It was evident, through our discussion, that there is no perfect ATS, and selecting one is highly dependent on your organization’s needs. Our advice: start by defining the two most important aspects of your recruiting process. Is it automation? High touch? Outreach? With these in mind, choose an ATS that is best for these features and add integrations and supplemental tools, as necessary.

Invest Now

With the current state of the labor market, there has never been a stronger business case for investing in your talent strategy – the time is now. CEOs look to their HR leaders to present innovative solutions to address the talent gap and remain competitive in the marketplace. In fact, our experts shared that, according to a recent Gartner survey, 31% of CEOs identified workforce issues (hiring, talent retention and DEI) as a top priority to address in 2023.

We know times are tough, but businesses need to stay ahead of the curve and develop creative solutions if they want to flip the script on the Great Resignation. Whether your organization needs support with optimizing your recruiting team’s processes or technology, putting together a business case for a recruiting investment or establishing a plan for 2023 talent strategies, Sikich’s HR experts are here to help.

This publication contains general information only and Sikich is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or any other professional advice or services. This publication is not a substitute for such professional advice or services, nor should you use it as a basis for any decision, action or omission that may affect you or your business. Before making any decision, taking any action or omitting an action that may affect you or your business, you should consult a qualified professional advisor. In addition, this publication may contain certain content generated by an artificial intelligence (AI) language model. You acknowledge that Sikich shall not be responsible for any loss sustained by you or any person who relies on this publication.

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