The recently announced pathway out of lockdown and it’s easing is making an impact on the recruitment and retaining of staff.
The industry average for staff turnover is somewhere around 20% per year. Since November last year, this has dropped significantly as staff have been resigning less and less by their own choice and employers have mostly already made their staff cuts. Now the market place is picking up, expect a spike in turnover.
This is commonly happens when a period of low employment option confidence, such as a recession changes into a period of high confidence. Since November last year, this has dropped significantly as staff are leaving less by their own choice. Now the market place is picking up, expect a spike in turnover.
The pattern we are seeing is a double-edged sword for employers
- Staff that are in “filler” jobs, taken onto pay their bills, are now actively looking for their “ideal” job.
The market place makes them more confident that they will find employment in a company long-term. This means a chance for employers to employ higher skilled employees. It also means there is a high chance you’ll lose some of your recent hires
- Longer term employees may have itchy feet
A period of less optimism can reduce an employee’s overall happiness as their own success. Stressed manages can also drive this. As they say “A change is as good as a holiday”.
Again a chance to pick up some highly skilled staff, but also you may loose some. Making your staff hopeful that the dark clouds are lifting and they are valued is important right now.
- New hires may pull out before starting
The market is becoming even more competitive. Previously it was competitive mainly due to less supply of active job seekers, now it’s becoming more competitive due to more demand from competing employers.
Now is not a time to be underpaying. You’re new employees will still be getting calls from employers they applied to before they accepted your offer. Make a good impression with your onboarding process.
Many employers are now making it mandatory for their staff to be fully vaccinated against COVID. This does not set well with some, resulting in them resigning.