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5 Hiring & Retention Trends to Consider
Although you may have a tightened HR budget, here are 5 hiring and retention trends you should implement to compete for key talent.
While many companies have had to tighten their budgets, they’ve simultaneously increased responsibilities for HR to recruit and retain key talent. This creates a need for HR staff to be innovative (and frugal) and stay on top of trends to compete in the marketplace.
With this in mind, here are five hiring and retention trends to watch for and consider implementing at your workplace.
Hiring Trend: Utilizing an Applicant Tracking System
As the world was learning more about COVID-19, many companies responded by minimizing as many touch points as possible to protect their workers. Among those considerations was the shift to a paperless applicant tracking system (ATS) that perhaps hadn’t already been implemented due to cost.
With this shift in priorities, many small businesses have already experienced significant efficiencies with their ATS in finding qualified applicants and an improved positive experience for candidates. If your company is ready for a more streamlined experience with a broader reach, this may be your solution.
Hiring Trend: Implementing Remote Onboarding
Another casualty of COVID-19 is the traditional onboarding experience of training and welcoming new employees to the workplace. Some companies were able to quickly transition to a virtual onboarding process, whereas others pieced together a choppy experience to try and introduce new team members.
Developing and smoothing out your virtual onboarding processes with prepared video tutorials and trainings will better position your company for whatever lies ahead, from tackling a prolonged pandemic to opening up more remote-based positions.
Hiring/Retention Trend: Expanding Remote Work Opportunities
Prior to the pandemic, remote work was an incentive that few companies reported offering as a regular work arrangement. Now, many companies indicate workers may continue working remotely, even when vaccinations have been fully distributed.
Although remote work opportunities aren’t feasible in all situations, expanding the option can serve as a tantalizing recruitment perk. For you as the employer, offering remote positions gives you greater flexibility to hire anyone living anywhere with an internet connection.
Retention Trend: Shifting to Holistic Employee Well-being
While pre-pandemic measures had wellness programs at the top of the list, employee wellness now means much more. Beyond maintaining safeguards against COVID-19, many companies will encompass a holistic approach to employee wellness with initiatives such as:
- Mental health and/or Employee Assistance Programs (EAP)
- Dependent care assistance
- Financial planning
- Flexible scheduling
These programs help employees better themselves by leading healthier, happier and more productive lives. From the employer perspective, that means a direct correlation to your bottom line while becoming a more attractive employer.
Retention Trend: Providing Greater Inclusivity
Not all of 2020’s headlines were consumed by COVID-19, as racial tensions boiled over and prompted national conversations around inequity and racial inclusion. In response, many businesses committed to more diversity in the workplace with efforts such as:
- Diversifying leadership
- Scrutinizing hiring processes to identify barriers to diversity
- Training employees to foster awareness and enhance cultural and racial inclusivity
Taking a step back to understand and change your company’s internal processes may generate a whole new level of ingenuity due to a more diverse workforce.
Hiring & Retention Trends Summary
As systems and processes are being reimagined and reevaluated, your company will need to adapt quickly to compete. For ideas on how to help your workplace keep up with trends, please contact your certified Stratus HR expert.
Not a current Stratus HR client? Book a free consultation and our team will contact you shortly!