Recruiting and retaining talent in 2022

In the past few years, the world has undergone radical changes that have reshaped the way we think about and do our work. The pandemic caused countless organizations to shift to hybrid or even fully remote work models. Now, 33% of people prefer hybrid arrangements, and 65% want to work remotely full time, according to Forbes. The Great Resignation also brought a mass exodus of employees who no longer felt valued at their jobs, causing labor and skill shortages for nearly every industry. As HR departments and talent acquisition professionals plan ahead for the new year and new normal, let's take a look at some of the challenges and opportunities coming down the pipeline in 2022.

Will the Great Resignation continue?
Recently, there has been a dramatic rise in the number of Americans leaving their jobs, culminating in a record-breaking 4.49 million people quitting in November 2021 alone, according to the Bureau of Labor Statistics. The entirety of 2021 held the highest average quit rate as more than 3.9 million people left their jobs each month. While these high rates are expected to continue into 2022, Anthony Klotz, who coined the term "Great Resignation," believes it will slow down as a tighter labor market forces organizations to offer competitive benefits and salaries.

Hybrid work becomes the norm
As we touched on previously, employees increasingly want more control of their schedules and the freedom to work from anywhere, whether in hybrid or remote models. These flexible arrangements are quickly becoming a key deciding factor for potential candidates searching for work. Not only do these models attract a wider pool of candidates, but they also promote a healthier work-life balance and boost productivity by reducing employee burnout.

Diversity, equity and inclusion
Around the globe, there has been a growing demand for diversity, equity and inclusion practices in the workplace. As more people realize the necessity of representation and fair treatment, it will become a foundational part of modern recruitment strategies. This will benefit both employee and employer, as organizations with greater gender and ethnic diversity boast 25% and 36% higher financial performance, respectively, according to a McKinsey report.

More professional development programs
In order to stem the Great Resignation and prevent attrition, organizations will have to find a balance between their recruitment and retention strategies. This means listening to what workers value and implementing programs to address them. The main thing every employee wants is to know their company is invested in their success. You can demonstrate this by offering training and career development programs that mutually benefit employees and employers.

The CHRO will play an integral role
As companies focus on human-centered leadership in the wake of the pandemic, the role of the HR department has become even more essential. For an organization to flourish in this environment, they need a strong CHRO to drive and deploy new recruitment and retention strategies, career development programs and take on the challenges of 2022.

If your company is looking to hire professional talent like C-suite executives, YES Partners is here to help. Click here to see some of the positions we have already successfully placed.

Finding people is easy, but finding the RIGHT people is not. YES Partners helps companies FIND the right people for all company functions, across many industries.

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