December 12

How To Capitalize on The Great Resignation

5 Strategies to Find, Attract, Retain the Talent You Need

 Make no mistake, the last 18-months and this pandemic have changed everything. Everything from how we live, how we socialize, how we communicate, how we take care of our health and definitely how we work.

You are hard pressed these days to find a company that is not actively and desperately looking for help. It is tough out there.

To date, more than 34.4 million people have quit their jobs in 2021 alone. And the Labor Department reports that there were more than 10.4 million job openings just in the month of September, and only seven unemployed workers for every ten job openings. Do the math on that, it means that there are not enough workers to fill the open jobs.

This phenomenon is known as the Great Resignation, a phrase coined by psychologist Anthony Klotz. And it is problem that has gone global, with countries around the world reporting increasing numbers of employees opting out and finding new opportunities.

So why are employees leaving their jobs? The list of reasons is endless. Everything from the pandemic making people rethink what they want from life and career, the opportunity to work remotely, to exhaustion and burnout, mask, and vaccine mandates and just a belief there is a better career and more opportunity out there.

Make no mistake this is a marketplace where employees control the market, and you are competing with pretty much every industry out there to find talent and retain it. But while it may be difficult to compete in this market, it does not need you cannot win the war on talent, and you cannot capitalize on The Great Resignation.

5 Strategies to Find, Attract, Retain the Talent You Need

  1. Shift Your Mindset – if you want to win the war on talent you need to begin by how you think, feel and act in relation to The Great Resignation. You need to stop thinking of it as a negative and start to see it as a terrific opportunity. People may be leaving jobs in droves, but it also tells you that there are a lot of employees out there looking for something better. Looking for an environment where they can be successful, reach their potential and be happy at work. If you provide that environment, you can win this war.
  1. Focus Inside – before you start looking for new talent, focus on the talent you have. Just like your potential customers ask existing customers what it is like to work with you, so will your potential new employees. How happy, engaged, and passionate your current employees are the greatest indicator of your ability to attract new talent. So, focus inside and work on retention first.
  1. Enhance Your Culture – what is your company culture? Is it well-defined? Does it reflect what you want it to reflect? You have a company culture whether you have defined it or not, and even if your culture is rock solid there has never been a better time to take a long hard look at it. One of the most important things that employees are looking when seeking new employment is an environment that supports them and matches their values. Your culture impacts everything from your reputation in the community to your level of employee engagement. Now is a great time to review your culture and make some long overdue improvements.
  1. Identify Ideal – before you reach and start trying to hire new employees, you need to define who you are looking for, who is your ideal employee? What are the characteristics and traits of employees are a successful in your organization and how can you identify and interview for those qualities?
  1. Proactively Recruit – and finally, do not sit back. Your recruiting efforts need to run like a sales team. Your best employees, your future talent is actively working somewhere else. The Great Resignation talks about people actively leaving jobs, but there are also record numbers of people who could easily be recruited away. So, sit down, build a pipeline, and start actively recruiting.

Yes, it is tough out there. Tough to find talent, keep talent, and keep your workforce motivated and engaged. But you can capitalize on The Great Resignation, if you step back, review how you are thinking about and prioritizing talent.

If you follow these five strategies you will not only be able to find, attract and retain the talent you need, but you are going to among the few to capitalize on the phenomenon we have come to know as The Great Resignation.

Meridith Elliott Powell

Voted one of the Top 15 Business Growth Experts to watch by Currency Fair, highly engaging corporate motivational keynote speaker Meridith Elliott Powell delivers a cutting-edge message, rooted in real-life examples and real-world knowledge. Meridith’s presentations are full of powerful content, highly interactive, and fun. She helps her clients learn the leadership development, sales and business growth strategies to turn uncertainty to competitive advantage.

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