Oct 16, 2020

Employees are staying put: What does this mean if you’re trying to hire?

For many organisations, the year has been off to a rough start – slowed economic growth, meaning flat wage growth and fewer opportunities for advancement, Australia’s devastating fires and the rise of COVID-19.

In this current fast-changing and unpredictable climate, we all want a little stability in our lives, so it’s no surprise that Australian workers are feeling the same way.

According to Deloitte’s Talent 2020 Employee’s Perspective report, 80% of people plan to stay with their employers over the next year.

So, if are a Hiring Manager with vacancies to fill, how do you convince great candidates to leave the safety net of their current role? Well, you’re going to have to think smart.  

We know that job seekers always want to know 'What’s In It For Me' (WIFM) when they consider a move. What does that mean right now?

They want to know that their employer has their best interest at heart and that there are systems and processes in place to support them. With so many people focused on their wellbeing and many concerned about the economy and their own financial situation, candidates are looking for better people management, work-life balance and respect. According to a recent Gartner Global Talent Monitor report, these are now ranked as the top three reasons employees are leaving organisations.

In addition, Glassdoor’s Mission & Culture Survey 2019 found that 65% of candidates said that their company’s culture is one of the main reasons for staying in their job and 71% said that they would look for a job elsewhere if their company’s culture deteriorates. Deloitte’s Talent 2020 Employee’s Perspective report found that 26% of those who plan to leave their jobs in the next year cited a lack of trust in leadership as a key factor.

If you are hiring, it’s time to think about what you as an employer can offer, to show job seekers that you have what they need.

  • Do you offer flexible working options like working from home, which allows employees to continue working through this challenging time?
  • Do you offer extra leave entitlements or health insurance?
  • Are you a strong, stable brand that can support its employees through times of hardship?
  • Do you have a tight-knit culture where every employee feels like part of the family?

Highlight these benefits - in your job ads and on your careers site. How you respond to your current and potential employees’ needs during this challenging time will have a huge impact on your employer brand and ability to attract and retain the best talent in this current market.

Talent Propeller helps employers to put their best foot forward. We can help with advice on advertising.