NEW YORK, October 11, 2021 / PRNewswire / – New Survey of Over 1,000 Senior Executives and Human Resources Managers Commissioned by Recruiting Software Company Tight, finds that 78% of organizations plan to increase hiring in the second half of 2021, while nearly 68% expect attrition to increase at the same time. More than half (53%) of employers cite the desire for a better work-life balance as the main cause of turnover.
This new wave of hiring goes beyond simply making up for lost staff and resignations. More than 60% of executives surveyed said they plan to increase their workforce by 50% or more in the second half of 2021. While 33% of new job postings are aimed at reducing the workforce to pre-COVID levels, 60% will be destined for new roles as companies seek to fuel their future growth. To face the future, companies must have a winning talent strategy to be successful.
A large majority (84%) of those surveyed believe that hiring is a top priority for their CEOs, but with such a high demand for talent, the power is now in the hands of candidates. The next generation of employees are speaking out in the kind of workplace they seek. Of the most popular benefits mentioned by applicants, 63% want a flexible work schedule, while 57% want the ability to work in hybrid or remote mode, compared to just 12% looking for benefits in the office.
“Most CEOs say hiring is one of their top priorities, but intention alone without a structured process is pointless. With over 60% of senior company executives reporting that they are actively involved in hiring across the organization, CEOs need to seize the momentum in order to make a change to their process. hiring ”, declared Daniel Chait, CEO and Co-Founder, Greenhouse. “Companies that have a cut-and-paste strategy are bringing an old playbook to a new game. It’s a recipe for disaster and eliminates a lot of great candidates. Not only are you falling behind your competition in attracting talent, you are likely imbuing an unconscious bias in the types of people you hire and limiting your ability to create an inclusive workplace for the employees you have. Before long, they’ll be polishing their own resumes and looking elsewhere. “
The past year has seen many rethinking their career choices, and employers have been warned. As companies develop their plans for the post-pandemic workplace, employees aren’t ready to stay if companies fall at the first hurdle. The results of this survey show that disagreement with the company’s return to work plans could be one of the main causes of attrition, with 33% of those polled predicting that this will have an impact on the employee churn rate. .
In an effort to grow the workforce and avoid high attrition rates, leaders are taking proactive steps to attract and retain talent. Almost three-quarters (71%) of organizations aim to increase or extend existing benefits, 59% plan to introduce a new bonus system, while 56% plan to grant additional time off to employees.
The COVID-19 pandemic has had an undeniable impact on recruitment, leading many companies to suspend or reduce their hiring targets. As the economy rebounded, so did the number of jobs created, and as companies continue to embrace distributed work, they are now competing to attract talent nationally and globally.
“In employee retention, like in hiring, this is the world of candidates,” Chait said. “Leaders need to understand that people have more choices than ever where to work. Paying your employees the right way is just the start. Your hiring strategy should create a culture of purpose, where people feel like they belong and can express who they are. Ultimately, your hiring problems become your retention problems, and vice versa. “
Main findings of the survey:
- 84% of respondents believe recruiting is a top priority for their CEO and describe over 60% of senior executives as “very involved” in recruiting
- Over 60% of executives surveyed said they plan to increase their workforce by 50% or more in H2 2021
- The main steps companies take to retain talent include:
- Increase or extend benefits (71%)
- New bonus system (59%)
- Extra free time (56%)
To access the full survey results, visit Greenhouse blog.
Greenhouse, the recruiting software company, surveyed 1,000 senior executives and HR managers based in the United States. Respondents were employed full time in businesses with between 50 and 5,000 employees.
About the greenhouse:
Tight is the hiring a software company. We help companies become talented at hiring through our powerful recruiting approach, complete suite of software and services, Hiring maturity™ methodology and large ecosystem of partners – so that companies can hire for the future.
Situated at New York City with offices in San Francisco, Denver and Dublin, Greenhouse Software has more than 5,000 customers. Some of the smartest and most successful companies like HubSpot, Buzzfeed, JD Power, Booking.com, Scout24 and The Knot Worldwide use the Greenhouse recruiting software platform to improve all aspects of recruiting, helping them attract top talent.