Great Resignation in 2022: Things You Need to Know for Your Talent Acquisition

It’s time to face it, the Great Resignation is real.

Since the wake of Covid19, companies from all across the world had to make difficult decisions and shrink down their workforces. Now that we’re stepping into 2022, a sense of normalcy and stability is permeating through. But there’s one challenge employers can no longer ignore; the Great Resignation and it’s grave impact on talent acquisition.

Ever since the pandemic, employees began to expect a lot from their employers. Essentially, they expected them to alleviate part of their concerns and circumstances. And the employers who failed to do so; suffered deeply.

So what exactly is the Great Resignation and what does it mean for your talent acquisition?

We answer all your questions in this blog post!

What is the Great Resignation?

The Great Resignation refers to the large percentage of employees who suddenly decide to resign from their jobs in lieu of their working conditions. And according to an associate from Texas A&M University, Anthony Klotz, the percentage of these employees is an alarming 40%.

Now let’s look at the numbers.

As of 2021, 4 million people left their jobs. Athough 6 million people were hired that year, it still posed as a great challenge for talent acquisition specialists. Why? Because they had to truly understand the causes behind the Great Resignation to find the right talent for their companies.

So why are these employees choosing to resign from their jobs? In truth, it could be for a number of reasons. One of which, is not seeing eye-to-eye with their employers. Since companies started working remotely in early 2020, employers expected their employees to keep the same productivity pace. Which wasn’t entirely possible. Many employers didn’t take into consideration that the lack of social interaction is severely impacting their employees’ mental health. Other employees, on the other hand, were excelling and unleashing their full potential.

This is where talent acquisition specialists were caught in a conundrum. Some employees wanted to continue working remotely, while others weren’t having it.

Either way, millions of employees began to experience the stress induced by working conditions, which led to higher turnover rates.

Foster an AI-driven approach to talent acquisition

Talent acquisition teams that foster an AI-powered applicant tracking system have access to powerful and rich data. Simply put, this data can include candidates in a talent pool from years ago or past employees who were looking for advancements in their careers. When the Great Resignation started to occur, talent acquisition teams that were utilizing an applicant tracking system were  able to dip into their existing talent pools for qualified candidates they’ve encountered in the past. Through artificial intelligence (AI) an advanced applicant tracking system can help you in preserving past data and accurately assessing candidates for open vacancies.

Not only that, but an applicant tracking system like EVA-REC can also help talent acquisition teams optimize their job descriptions, post jobs on thousands of job boards, screen resumes fast, and shortlist top talent with ease. All of which is powered by AI.

For instance, traditionally, recruiters would spend an average of 16 hours per week on screening candidates. With an AI-powered applicant tracking system, recruiters can seamlessly reduce that to a couple of minutes. Simply because the AI can automatically qualify or disqualify these candidates based on their qualifications and skillsets, which will help you in deciding whether they’re a good match for the job. And when it comes to the Great Resignation, this will help recruiters find the best candidates faster and more efficiently.

A talent acquisition strategy will help you ride the Great Resignation wave

A talent acquisition strategy enhances your capability to identify and hire the right candidates for your business. These candidates will be aligned with your company’s long-term goals and visions – and will ultimately help it succeed and grow.

If we know one thing for certain though, it’s that the causes of the Great Resignation are not all the same. What we also know, is that having a great talent acquisition strategy in place can help you tackle this issue head-on.

First things first, we live in a candidate-driven market now. So, you want to show qualified candidates that you can offer the key things that they’re looking for. Perhaps it’s work-life balance, remote work, a diverse culture, or a wide array of perks and benefits. As of 2021, flexibility and work-life balance are on every candidate’s list. So, if you’ve got what they’re looking for, don’t shy away from flaunting it. Be loud and clear. Starting with your career page.

Your career page is commonly the first touchpoint with candidates. It’s what drives candidates to apply to your open positions. And just like a shop window, if they don’t like what they see – they’ll quickly leave. Be sure to refresh the content on your career pages and social media to show candidates what you have to offer. In the end, the goal is to attract them to your employer brand, not repel them.

Last but not least, make sure to add professional development and advancements as part of your talent acquisition plan. At the end of the day, you can’t just talk the talk. You need to walk the walk.

Once you show employees that you can help them step up the career ladder and allow them to advance in their careers, you’ll empower and entice them to stay. It’s a win-win situation.

You can even opt to have senior employees act as mentors to help younger employees learn new skills, develop their technical skills, sharpen their insights and gain valuable knowledge.

Provide employees with plenty of opportunities for growth

Now that we established the importance of showing candidates and employees what you have to offer, be sure to start putting it to practice. The pandemic certainly did a great job at disrupting the idea of career progression. Almost 47% of employees chose to stay in their jobs for financial security, which means career opportunities dropped down the agenda. It’s why we’re seeing more and more employees fall into the career-switching bubble.

To avoid this altogether, speak to your employees. Ask them what they’re looking for in three years, five years, or even ten years’ time. For example, they could be looking for financial, professional, or personal growth.

But growth is perceived differently by many employees.

Now, don’t make the mistake that money is the only way to keep your best employees happy. Your star employees want to know that they earned an extra pay in salary through their hard work and dedication. And if you don’t have the funds for it, why not offer them more career growth?

Don’t underestimate the power of titles and prestige. Sometimes all your employees really want is a new title that will help them easily move up the organization’s ranks and show the world the fruits of their hard work.

In talent acquisition, don’t forget that growth means professional development for many other employees. Employees want to learn new skills and excel at their jobs. They seek training, new courses, and material that can help them learn new things.

Remember, don’t hold your staff back. Be sure to let them know that they aren’t tethered or handcuffed to their desks and there’s room for them to grow. Not only will you help them linger around longer, but you’ll also help them boost their confidence and inspire them to unleash their entire potential.

If employees decide to go, make sure it’s for the right reasons

Employees leave their jobs for various reasons. And sometimes, you can’t stop them. Whether it’s for a better salary, more benefits, career progression, or the simple notion of trying something new.

Unfortunately, it’s important to understand that a lot of employees succumbed to the pressure and  professional roller coaster ride induced by the pandemic.

From a talent acquisition perspective, you need to act empathically and morally to support employees. Maybe it’s by helping them feel reassured, safe, and valued. But if they do decide to leave, make sure it’s for reasonable purposes. If the reasons have to do with neglectfulness and dereliction from your company’s end, it might be time to look into these issues in more detail and find the gaps that are costing your company top talent. This way, you’ll work to improve the setbacks that drove employees to leave in the first place, and prevent others from following suit.

Remember, although your best employees decided to leave, never lose contact with them. With so many changes occurring in the market, you’ll never know when you’ll need them again – or even better – if they find themselves inclined to join your company again in the near future.

Bottom line

The Great Resignation might have shed dreary effects on talent acquisition, but it’s not entirely impossible to combat. Talent acquisition in the era of the Great Resignation can be both rewarding – and incredibly challenging. On the one hand, recruiters have a surplus of talent to tap into and hire, and on the other, they’re losing valuable employees.

Whatever the reason behind this exodus, talent acquisition teams should adapt to the new reality by fostering an AI-driven approach, improving the talent acquisition strategy, giving employees plenty of opportunities to grow, and understanding the real reason behind their departure.

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