What Should Employers Do About the “Great Resignation”?

Hiring Trends

Happy New Year! As you’ve probably noticed, movement in the job market is at an all-time high, and 2022 is shaping up to be one of the best markets for candidates in recent history. What does that mean for you?

4 things to do in a candidate-driven market

1. Check in on what your team actually wants

It’s the perfect time to ask yourself, “what can I do to retain the talent I currently have?” One suggestion is one-on-ones aimed at understanding what’s actually important to each person’s career, then talking through what’s possible now versus down the road.

Your employees may think they have to look outside the company for growth or a challenge, when you may already know about an upcoming role or project that fits. Or they may feel they need to look elsewhere for work-life balance or a hybrid schedule, when you may have more flexibility to offer than they realize. Knowing what matters to your team is key in this market.

2. Don’t take it personally if they still leave

If you can’t meet an employee’s needs, don’t hold it against them for looking outside the company. Not knowing they’re looking doesn’t change the fact that they are, but being aware gives you more runway than the typical two-week notice to plan for a replacement.

3. Reevaluate your benefits and salary

This matters not just for retention but for any hiring you’re planning down the road. If raising salaries isn’t an option, consider other ways to compensate, additional PTO, a hybrid or remote schedule, a sign-on bonus.

4. Now is a great time to hire

If you have positions on hold, see if you can get approval to start recruiting now. This is the Great Resignation, Americans are quitting at a record pace, and that’s a real opportunity to hire strong people who wouldn’t normally be on the market.