MORE EMPLOYEES PLEASE
As we’ve been returning to the new normal at work in 2022, it has been interesting to see just how unaware some companies and line managers are when it comes to our economy’s employment crisis.
The decision to hire more staff needs to be well thought out – even more so than in the past. Companies must have an underlying understanding that the position that is on offer might not be as attractive as you’d think to those outside (or even inside) your organisation. Your company and what it has to offer may not have outstanding candidates patiently queuing up at your front door waiting to be considered for employment.
A real factor to consider in this market is the assumption that you will retain all the current staff you need to provide your skill base upon which to grow your business. The reality is that many people, likely some of your key employees, are on the brink of testing their personal offering in the market place.
A new phenomenon much spoken about, but now becoming a real thing in the Australian employment world is ‘The Great Resignation’, where extremely competent people are resigning from existing roles without a job option to take a break and test the market. They may feel burned out and unable to make a quality career decision whilst in their current nearly post COVID environment.
Many are disappointed on how they have been treated in the last couple of years and are now operating on a new job description, in hybrid roles (with their respective positives and negatives) and with bonus levels now being awarded at a much lower level than was expected, particularly given many strong corporate results across numerous sectors. People are saying “yeah, nah!”
They are choosing to see what is available out there, and there is a lot to consider out there too!
An indicator that employees are confident of their ability to secure a better job is that a lot of folks have decided to jump ship during the traditional vacation period. They are leaving their existing role after having a break, during which time they have thought seriously about their career direction without the day-to-day pressure of performing at work. It will be interesting to see how they go in the new world, but they can be expected to do quite well given the lack of workers in the labor market, particularly with the ‘ideally’ required 2022 skill sets.
The message resonating throughout the economy is for management to take a strategic view on what your organisation has to offer in today’s employment market. This appraisal is not only important from an attraction standpoint in searching for new employees, but also in terms of retaining existing staff.
What you had in 2019 is likely different to 2022. What people are looking for certainly has changed.
Speak with industry experts who know what is going on in the labor market to better understand what is necessary for success and whether your current expectations are realistic. Do not assume that because you have a vacancy (either as a result of losing someone or business growth), that you have the power in the employment equation.
Candidates, including existing employees (since everyone is in the market given the right opportunity!), have never been more sure about what they want in terms of job roles, rewards and flexibility. In today’s market, complacency and inflexibility will lead to unacceptable commercial and cultural outcomes.
Tanner Menzies knows what it takes to tackle The Great Resignation. Call Peter Gleeson 0419367569, Ian Stacy 0417478229 or Peter Tanner 0419826637 or visit tannermenzies.net.au for more information.