Attracting and Retaining Employees During the Great Reshuffle
While employees continue to quit their jobs at high levels, it no longer appears that massive numbers of workers are leaving the workforce entirely. Economists have begun referring to the situation as the “Great Reshuffle” as total employment in the United States continues to trend up. Employees have been finding better jobs, with key decision factors generally revolving around compensation, benefits, career advancement and workplace flexibility.
Here are some common strategies employers can explore when it comes to attracting and retaining workers in today’s labor market.
- Invest in career growth. Many workers desire professional development opportunities and are willing to leave their current jobs in search of career growth. Employers can simultaneously enhance their staffing levels and worker skill levels by offering these workers a chance to enrich their careers via upward mobility.
- Offer flexibility. Surveys overwhelmingly indicate that many employees prefer to retain the flexible work options they’ve been afforded during the COVID-19 pandemic. Depending on what’s feasible, this could mean allowing employees to work from home, letting employees have flexible working hours or providing flexible time-off policies.
- Provide mental health and well-being resources. Mental health and general well-being are now commonly discussed in employment conversations. Employers can help demonstrate how much they value their workers by expanding mental health and well-being resources.
There’s no one solution to today’s attraction and retention challenges. However, employers should consider what initiatives fit into their talent strategies.
Additional articles from the June 2022 edition of the Univest Employee Benefits Newsletter:
- 2022 PCOR Fee Filing Reminder for Self-Insured Plans
- HSA/HDHP Limits Increase for 2023
- EEOC and DOJ Issue Guidance on the ADA and the Use of Artificial Intelligence, Algorithms and Software
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