Aside from wide-ranging changes to the way we work, the pandemic also gave employees time to reflect upon their future careers and way of life. So much so that what’s commonly called “The Great Resignation” has become a workforce trend to keep an eye on.
Interestingly, a 2021 Microsoft study of 30,000+ workers found that 41% of respondents thought about quitting or changing their professions. On top of that, recent figures from the US Bureau of Labor Statistics showed that 4.4 million people resigned from their jobs in September 2021. While some of this figure includes people retiring, this number of resignations is no coincidence following the pandemic.
From now through 2022 and beyond, HR professionals will need to refocus their hiring strategies to reflect this emerging trend. This may include new approaches such as open hiring and adopting faster recruitment techniques such as pre-recorded video interviews and AI data during hiring campaigns.
While none of these approaches are new, we believe we’ll see a greater reliance on them to speed up hiring and tackle the skills shortage.
As a result of the shifting and changing workforce, there may be less focus on hiring for specific roles and more emphasis on recruiting for the skills an organization needs to stay ahead.
Interestingly a McKinsey ‘Future of Work After Covid’ report found that one in 16 people will need to find a new job by 2030. This, in turn, will potentially lead to resignations as well as employees looking to employers to train them to learn new skills so that they remain of use during this changing landscape.
Consequently, talent acquisition staff and HR professionals will need to increasingly work together to not only hire employees with in-demand skills, but also to address employee training needs in other areas, for instance, emerging technologies, as well as broader training in areas like time management, communication, and stress management. As a result, we believe HR professionals will increasingly rely upon talent market intelligence to help them anticipate where to find qualified talent, changes to the local job market, and information concerning competitive salaries.
In summation, as the job market becomes increasingly fierce, we predict there will be a greater emphasis on HR professionals demonstrating their organization’s commitment to learning and development as part of their hiring strategies.
