Have any of your co-workers left their roles for new job opportunities recently? They aren’t alone. People around the world are bidding goodbye to their companies in droves, with still more to come, and people are dubbing this ‘The Great Resignation’. This phenomenon has been talked about extensively of late, with leaders and organisations around the world gearing themselves up for this shift. A study has shown that 41% of the global workforce is likely to consider leaving their current employer within the next year. (1) The pandemic has completely changed the way we work and has resulted in employees shifting their priorities and expectations when it comes to their jobs and the work culture.
For recruiters, resignations will disrupt workflow and productivity, and the cost attached to this is high. On the flipside though, it also does mean that there is more available talent in the market, with more people looking for better opportunities.
Recruitment firms that are quick enough to move to secure these top talents while also being strategic enough to help their clients retain their most valued people are the ones who stand to gain the most. What can recruiters do to attract and secure some of these top talents for their clients?
Extend flexible working arrangements
While salary remains a large consideration for many employees, there are also other crucial factors that employees or potential hires weigh before taking on a job. Sometimes, higher wages and bigger bonuses are not the only determining factors. More than half (54%) of employees surveyed in APAC are likely to leave their current jobs post-pandemic if they are not offered continued flexibility where and when they work, according to EY’s latest research. (2)
Flexible work arrangements can come in many forms, and the pandemic has allowed businesses to explore how to best implement flexible work arrangements. Organisations around the world are extending hybrid work to their employees because they are beginning to understand how important flexibility is to most of their employees.
Tap into the global talent pool
Many clients are also looking to take advantage of this world without borders to acquire talent that can work remotely to help build their businesses. In a recent study, 55% respondents said that they are open to hiring and managing remote talents abroad to achieve the best workforce solution. (3) This is especially important for organisations that are going global and would benefit from having people on the ground who understand local markets much better than their employees from their headquarters who are based miles away.
Deliver a strong and meaningful onboarding experience
A study by the Harvard Business Review found that 22% of organisations have no formal onboarding programme, and yet the data suggests that onboarding may be the most important time in an employee’s overall experience. (4) With many workers currently being onboarded remotely, a proper onboarding has never been more crucial for new employees. Onboarding is a golden opportunity to make a good first impression with your candidates. Research by Glassdoor found that organisations with a strong onboarding process improve new hire retention by 82% and productivity by 70%. (5)
Be transparent with your job ads
When you put a job ad up, it is important to make sure that job titles as well as roles and responsibilities are clear. It can be difficult to list a salary range for certain roles due to their nature, but where possible, list the salary range prominently on the job ad too. While not displaying salary in job ads does give clients a higher bargaining power, including salary will get you more quality applications. 61% of job applicants agree that salary range is the most important part of the job description (6). Being upfront about remuneration also builds trust with candidates, and sends a message that the client is a transparent one.
Encourage your clients to draw a clear path for growth at the start
It’s important to recognise that career progression is a major motivator for many employees. When your clients present a clear career progression path in the beginning of your candidate’s engagement with them, it is sure to make a good and lasting impression. 70% of employees surveyed in APAC ranked career progression as either “extremely important” or “very important” in 2020, an increase from 67% in 2019. (7)
As a recruitment firm, engaging the services of an EOR and AOR can help you tackle important issues such as leveraging on the benefits of a flexible workforce, tapping into the global talent pool by engaging overseas talent, delivering a strong onboarding experience and finding solutions to attract and retain top talent.
At People 2.0, we can help you with our wide range of services, from migration and outsourced payroll to contractor management outsourcing and workforce management technology solutions to help you deliver top-notch service to your clients. Get in touch with us today to discuss your needs.
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- How employees in APAC feel about their career progression, training, and more