With the economy continuing to improve and unemployment rates remaining low, many people are becoming more confident in leaving their current job to find greener pastures. This situation can be a double-edged sword for business owners. On the one hand, companies may lose valuable employees who are seeking something more in their career. On the other hand, there is an increasingly large pool of talented people who are looking for a new place to work. Several recent studies show business owners the keys to recruiting millennials and the most talented individuals in a competitive marketplace.
To understand the employment environment, it’s important to know how employees feel about the places they currently work. A recent survey of nearly 6,000 employed people in the U.S. found that the majority of workers are unhappy at their job and many consider moving to a different company. More than half of U.S. workers (55 percent) surveyed by CareerBuilder felt they have just a job, not a career, and 38 percent of those workers said they were likely to change jobs by the end of 2017.
“Unfortunately, more than half of workers feel they have just a job, not a career, and almost three in 10 say they dislike their job,” said Rosemary Haefner, chief human resources officer at CareerBuilder. “When workers don’t enjoy what they are doing, they are more inclined to pursue other options, and there are many routes for them to take as the U.S. continues to add jobs.”
This data strongly suggests that there is a large, and growing, pool of current employees who are interested in looking for a better job opportunities. The challenge for HR departments and recruiters is creating the best job opportunities to attract the best talent.
Use Remote Work Options for Recruiting More Millennials
Changing expectations among job seekers is one of the reasons recruiting talented people has become more difficult. It’s something HR professionals need to take into consideration. There was a time when having a great office was a great perk for potential employees. Recent research suggests that many Millennial employees would rather be able to work from home when choosing among job offers.
MRINetwork recently conducted a survey of 265 recruiters, 100 employers and 263 job seekers (so 628 people in total), and discovered an increasing demand for remote work from job seekers. According to the report, 68 percent of recruiters and 53 percent of employers state candidates expect to work remotely “somewhat often to very often”.
As one would expect, the job seekers in this survey also showed a preference for jobs with remote work options. Over half of surveyed candidates said that having a work-from-home option is “somewhat to extremely important” as they consider a new job. These trends make it clear that businesses without some form of remote work options or other ways to achieve a good home-life balance for employees will find it harder to attract the top talent in a competitive marketplace.
“The U.S. unemployment rate is 2.8 percent within the executive, managerial and professional sector, so companies that fail to provide work from home options are definitely missing out on key talent,” observed an MRINetwork recruiter that participated in the survey. “In-demand candidates have choices. The more specific or rare their skill set is, their options increase, especially if they work in a field where competition for candidates is fierce. If they don’t want to relocate or work five-day weeks in an office environment, they may turn down a solid offer if they can’t work remotely.”
Other Job Factors for Recruiting Millennials and Unhappy Workers
The CareerBuilder survey, which was conducted by Harris Poll, shows that only a few things keep unhappy workers at their current job place of employment. Focusing on these areas in job descriptions or in special offers to a specific person may be enough to help them leave their current job.
According to CareerBuilder, of the 28 percent of people who tolerate or hate their job, some of the top reasons for staying in a current position included the need to pay the bills (74 percent), its proximity to where they live (41 percent), not wanting to lose their insurance benefits (35 percent), they liked their current pay rate (30 percent), or they felt the job market is still too tough (27 percent).
Each of these issues can be addressed in a specific offer for recruiting talented people. So even if a business can’t use remote work to attract employees, incentives like higher pay, a good benefits package and hiring bonuses (to overcome the “pay the bills” issue) are still effective ways to attract employees.
Another thing to keep in mind is the reputation of the business that’s doing the hiring. Reputation matters and job seekers will turn away an offer from a business with a bad reputation or that is involved in a scandal. In an another analysis of the same CareerBuilder survey, 71 percent of the respondents said they would not apply to a company experiencing negative press. Women were much more likely not to apply to a company experiencing negative press compared to men, 79 percent compared to 61 percent respectively.
HR professionals and recruiters need to realize that the definition of “a good place to work” has changed dramatically over the past 15 years. Everything from the advances in computer technology to memories of the recession has changed the way people think about their careers and what they want from their jobs. To attract the best talent, it may be necessary to modify job specifications and options to be more appealing to the modern job seeker.
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