The Great Resignation, aka the Big Quit, is not a simple trend of people quitting and changing jobs during and after the Covid-19 pandemic. However, once we look beneath the surface of the phenomenon, we can understand a few core reasons driving these resignations. One of the main reasons is how traditional recruitment methods fail to accommodate individual quirks and preferences.
So, what does the Great Resignation mean for recruiters? Is it a time to reevaluate existing recruitment practices? Or is it a chance to get ahead of the competition by tapping into a large talent pool of potential candidates who were dissatisfied with their last job?
For most recruiters, doing both is the best option. Here’s why.
What is the Great Resignation?
When Covid-19 began spreading across the globe in March 2020, most countries closed offices and mandated employees to work from home.
At that time, millions of people worldwide quit their jobs following the pandemic – a phenomenon that the American psychologist Anthony Klotz called The Great Resignation.
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While people were quitting jobs, many were also switching fields or companies. As a result, it became a unique opportunity for recruiters to recruit employees wanting to join a new company. However, these candidates would not jump on the recruitment bandwagon like previous generations. That brought both opportunities and challenges for recruiters.
The Pitfalls of Conventional Recruitment Methods
Conventionally, recruitment of new talent emphasises a candidate’s background information. As a result, it restricts people who want to work in fields without formal training.
Single-mindedness
However, many candidates are self-taught in multiple domains, but the recruitment process often overlooks these factors. The single-minded focus on educational and work background leaves many talented individuals unable to work in the field of their choice.
Perks beyond money
Another problem came in the form of a workforce eager to work remotely. Many office structures treated remote work as a workaround for the pandemic. Switching to a remote or hybrid model is a massive challenge to these companies, which have a trickle-down effect on how they recruit.
The most challenging thing to handle for recruiters is shifting the workforce’s mindset. Money is no longer the single motivating factor with the advent of multiple side hustle opportunities.
People started earning money from the metaverse, for instance, with blockchain-based games. Many creative people discovered the power of social media to generate income. Unfortunately, recruiters failed to address these changed mindsets and offer truly fulfilling positions with perks that go beyond bonuses.
How Recruiters Can Tweak Methods for Talent Acquisition in Great Resignation
The first fundamental change in recruitment methods that all HR departments need to bring is flexibility.
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While flexibility in work is also relevant post-recruitment, highlighting flexibility in the recruitment and onboarding process will draw many prospective candidates.
What Does it Mean to be Flexible in Recruitment?
The most crucial thing recruiters must keep in mind is that professionals are no longer willing to work in a position they don’t appreciate following the pandemic. That means recruiters now have to look beyond candidates’ CVs and cover letters and focus on their true interests and skills.
How can companies do that? By starting to evaluate candidates based on skill-based tasks. Conventional interviewing methods establish a power dynamic between the interviewer and the interviewee.
It needs to break down to accommodate flexibility in the work culture and model. Candidates should have the freedom to express their interests and decide where to work to bring the most value.
Here’re some ways recruiters can imbibe flexibility in the workplace:
1. Flexible work structure: remote work
In the post-Covid-19 era, working remotely has become a norm like never before. Most importantly, many employees appreciate the perks of remote work more than ever.
Be it a preference for a full-time remote position or a hybrid work model, many people are reluctant to go back to the office. In a survey, around 97% of the participants said that they prefer the remote/hybrid model over in-office work (Flexjobs).
What does this mean for recruiters? Simply put, a hybrid work model (at least in most departments) is no longer a luxury. On the contrary, it is necessary to retain promising employees and attract new talent.
Some departments are indeed more efficient in remote work than others. Nonetheless, charting a working model to accommodate these demands is very important in the era of the Great Resignation.
2. Perks beyond monetary compensation
Money is essential for everyone, but so are many other things! The pandemic left a lasting effect on how we perceive our lives and works.
For many people, this means happily foregoing a slightly high-paying job for a position that offers perks beyond the salary. It can include leaves, health allowances, provisions to spend time with family, or something else that enhances the quality of life.
Employers need to be mindful of non-monetary perks to bring in and keep some of their best employees.
3. Brand image
Companies with an established reputation of being kind and compassionate towards employees have a huge advantage in hiring.
According to a Glassdoor survey, 86% of candidates check a company’s ratings and reviews before moving forward with it.
Many people are ready to let go of their current jobs to work in a more humane company in every sense of the word.
Working on brand image comes after reevaluating your work model and work culture. However, recruiters cannot project and market a brand image that is fake at its core.
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Bringing changes to the office structure by making it more inclusive and accommodating is non-negotiable after the Great Resignation. The last thing companies now want to be associated with phrases like ‘toxic work culture’, ‘exploitative managers’, and so on.
Long-term Implications of the Great Resignation
While some effects of the Great Resignation will go away when demand/supply reaches an equilibrium, some trends are here to stay.
For example, remote working and hybrid work models are not going anywhere. Similarly, the future of recruitment will be skill-based and not background-based.
According to the World Economic Forum, 65% of children now in school will work in jobs that don’t yet exist. Institutional education and formal degrees are already losing relevance and will continue to do so.
Recruitment in the era of The Great Resignation is both challenging and rewarding. Rapidly bringing changes to deal with the changing landscapes will give first-movers an edge.
For more informative articles on the past, present, and future of tech recruitment, head over to the CodeQuotient blog. Are you a recruiter? Learn more on how CodeQuotient can help you recruit the best tech talent in town.
