Building Your Workforce in the Post-COVID Era: Recruitment and Retention Trends
Posted May 7, 2022 in Articles
While we know that COVID-19 is never going to fully go away, it appears that the worst days of the pandemic are now in the rearview mirror. With vaccines and treatment options widely available, most businesses are now able to focus on returning to normal—aside from dealing with the supply chain issues that remain prevalent.
For many businesses, returning to normal starts with rebuilding their workforce. Companies across a broad spectrum of industries were forced to conduct layoffs due to the economic impacts of the pandemic, and a historic number of employeesquit their jobs in 2021. If your company is currently dealing with a shortage of human capital, here are some trends to consider as you look to hire in 2022 and beyond.
5 Recruitment and Retention Trends for 2022 and Beyond
The job market has seen some seismic shifts over the past 30 months. In many respects, what worked for companies prior to the pandemic in terms of attracting and retaining top talent is no longer a viable strategy. For example, in the post-COVID era, many companies are finding that they must address concerns such as:
1. Attracting Candidates Who May Not Be Looking
In today’s world, many desirable candidates are no longer looking for jobs. Instead, they are running their own businesses or enjoying the flexibility of working in the gig economy. This presents unique challenges for recruiters, who must find ways to get their foot in the door.
2. Proactively Offering Flexibility
Even among workers who have remained full-time employees (or continued searching for employment) during the pandemic, expectations regarding flexibility have shifted dramatically. Many employees got used to working from home and putting in hours when it made sense for them to do so, and they aren’t interested in returning to a traditional nine-to-five.
3. Focusing on Wages
Before the pandemic, some employees were prioritizing benefits over income—especially in the younger generations. Now, with inflation high and interest rates on the rise, wages are once again a priority for many job seekers.
4. Prioritizing Financial and Non-Financial Benefits
Even though this is the case, many workers still have not given up their expectations regarding benefits. Health insurance, matching retirement contributions, the option to work a four-day week, and in-office perks are just a sampling of benefits companies may need to offer in order to be competitive.
5. Deciding What Roles are Truly Necessary
Fromloss of revenue due to supply chain issues to the adoption of artificial intelligence, companies are reconsidering their personnel needs for a variety of reasons in 2022. Before companies simply focus on restoring their pre-pandemic workforce numbers, they should critically assess which roles are truly necessary.
Schedule a Consultation with a Consultant at Mithras Investments
If you have questions about how (and to what extent) your company should rebuild its workforce, we encourage you to get in touch. Please call 305-517-7911 orcontact us online to schedule an appointment with a consultant at Mithras Investments.