Being a hiring manager during what people are calling The Great Resignation can feel like mission impossible. You know your company is a great place to work and can help others pursue rewarding careers. But how can you communicate these benefits to potential candidates?
Ready for the good news? That is exactly what job seekers are looking for.
Experts are now referring to this shift in workforce mentality as The Great Remaining or The Great Rethink! What this means is employees are rethinking their career paths based on their values (vs. compensation), and reminaging who they want to be.
- Do I really believe in my company’s mission?
- Do they truly value my work and contributions?
- Is my company making a difference?
- And most importantly…
- Am I passionate about the work I do?
These are just a few questions many employees are asking themselves. To help us better understand where this shift in career perspective started, let’s quickly review the external and internal factors that may have played a role.
Understanding The Great Resignation
According to Investopedia, “The Great Resignation describes the elevated rate at which U.S. workers have quit their jobs starting in the spring of 2021, amid strong labor demand and low unemployment as vaccinations eased the severity of the COVID-19 pandemic.”
The reason for this trend is likely a combination of both personal and professional preferences.
For example, during the pandemic many employees were put on furloughs during nationwide quarantine measures. When businesses began to reopen to the public, and corporations started calling back their teams to the office, many decided not to return.
It’s fair to say that the sudden pause in workday routine, and extended time away from loved ones, had no doubt caused individuals to rethink their values and what matters most to them.
For instance, parents had more flexibility during the workday to run errands, spend time with their kids, and pursue other interests (e.g., study a new language, learn a new skill/hobby, etc.). Instead of returning to the office and resuming their 9-5 workday, many decided to apply to companies that allowed them more flexibility in their routines.
Others who had worked for the same company for years may have also realized they were no longer experiencing job satisfaction or fulfillment and decided to switch careers entirely.
What This Means for Your Company
Now that we have more background on why employees are reimagining their career paths, let’s now talk about what your employees want from you.
Though everyone is different, you’ll find that most employees want the same things:
- Opportunities for career growth & development
- Leaders who serve and inspire (remember, quality starts at the top)
- Workplace flexibility (i.e., remote/hybrid work environments)
- Appreciation & individual recognition
- To be graded on their performance vs. hours they put in
How can you attract and retain employees?
Relocation services may be a solution to your labor shortage dilemma. Whether your employees need to relocate to be closer to relatives, find more space for their growing family’s needs, or move closer to your company’s headquarters, relocation benefits can be an influential factor that improves hiring practices and retention efforts.
For example, you may discover that many of your employees who live away from their immediate families are now considering moving back home to be closer to loved ones. This may be especially true if these employees are starting or growing their own families.
As noted earlier, being separated from family for such an unprecedented period of time has certainly made many reassess what they value most in life: family.
By offering employees the resources and support they need to relocate will not only attract them to your company, but it will also strengthen their commitment and loyalty to your brand.
Helping Employees Reimagine a Better Future
It’s true that the traditional model of having employees in the office, Monday-Friday, is a bit outdated. In fact, since 2020, many have proven that they can be even more productive and dedicated to their job responsibilities, while working remotely or on a hybrid schedule.
“Simply put, [employees] want their employers to be flexible with their personal needs and schedules even more now than ever before. For that reason, flexibility is the key to retention. Increase flexibility by offering options including remote work, shorter weeks and asynchronous meetings.”
If you’re looking into the benefits of a work-from-anywhere scenario to benefit your existing and future team members, you can start implementing employee relocation assistance programs—with no cost to you or your employees.
At Relocation Today, our employee relocation assistance program, called New
Directions, includes real estate and mortgage assistance. This benefit is available to any and all employees through your company’s benefits program and can be used to support individuals who are trying to buy, sell, or refinance a home.
This program is also available to employees moving either locally or nationally.
DID YOU KNOW that all but ten states allow a cash back reward after the real estate transactions have closed, and that goes back to the employee? This is even more incentive.
To learn more about setting up your own employee relocation assistance program, or if you’d like us to revisit and update your existing policy, contact Relocation Today for a consultation!
A Final Thought
The best way to find out what your employees want is to simply ask them. You may decide to set up an online survey that allows employees to anonymously share their wants and needs.
After collecting this data, you and your leadership team can design the type of benefits package that offers employees what they “actually” want vs. what you “think” they want.