Labor Market Hit Hard By Worker Resignations

As we all know too well, the U.S. workforce was staggered by millions of lost jobs due to the Coronavirus pandemic for well over a year. A recent CNBC report stated that were 9.3 million job openings in April, and a significant part of that figure was affected by a massive spate of worker resignations.

According to a recent report from the U.S. Dept. of Labor, some 4 million workers quit their jobs in April alone, the highest monthly number recorded in the 20 years the Department has been tracking that statistic. While some of these folks have already found new employment, and many are exploring new opportunities such as returning to school or becoming entrepreneurs, this still means there are many job seekers in the marketplace looking for better career opportunities.

If you’re an employer looking to hire, how do you plan to tap into that talent?  The nature of recruiting new talent has shifted as the nature of work has changed. Nowadays, workers are more confident in their skills and abilities. A larger number than ever can pick and choose the kind of employer that fits their career aspirations and lifestyle.

There are several ways to ensure that your organization is at the forefront of the talent acquisition game. Ensure your employer “brand” is a strong one so that as many people as possible believe you are an employer of choice, not just job candidates. Also, explore new ways to find talent, such as networking and employer-related events, as visibility can enhance your employer brand. Finally, make sure you are as up-to-date as possible on technology, as the emerging workforce craves a tech-savvy environment.

Just as job applicants have had to find a way to set themselves apart from the pack to gain entry into a desirable workplace, organizations find they need to do the same to attract the top-flight talent of today and tomorrow. For help with your hiring and talent acquisition efforts, contact us.