The economic outlook for the coming months looks good and many young people are thinking of changing jobs , but what can companies do to retain talent?
- Is “the great resignation” that occurred in the United States at the beginning of the pandemic taking place in Spain?
- The crisis experienced has made workers consider their situation and companies ask themselves: why do they want to change jobs? In today’s article we explain why this is a good time to change jobs and what companies can do to retain talent.
SHARE IT! 62% of young people say that we are at the right time to change jobs. How should companies act to retain talent?
The Adquialis Youth and Employment 2022 barometer shows how 62% of young people say that, despite the uncertainty, this is the ideal time to change jobs. While 50.7% maintain that they hope to change jobs in the coming months. This trend may affect companies, which will have to find a way to retain and attract talent.
Is this a good time to change jobs?
The pandemic and confinement brought us changes that have come to stay and have made looking for a new job attractive today for reasons such as those detailed below:
Goodbye stiffness, hello flexibility
Flexibility at work implies a change in the corporate culture of companies and a search for an effective reconciliation between personal and professional life. The pandemic has meant that many employees telecommute and that they begin to value that work adapts to their life and not the other way around.
Internationalization of the workforce
The possibility of teleworking has opened the option for people to work with companies from any country. The internationalization of the workforce has been a challenge for human resources departments. But it has also offered the opportunity for workers to open borders to work remotely in foreign companies, as well as for companies to access the best talent.
Changes in company values
The motivation of the workers depends, to a great extent, on their alignment with the values of the company in which they work. Currently, a large number of companies have changed their value system. The employee has been placed at the center of the strategy and companies that have not done so risk losing talent due to a lack of alignment between corporate values and those of the employee.
Employee-centric companies know that it is essential that each worker has the opportunity to develop a professional career within the company. As well as training to achieve it. For this reason, organizations offer, when hiring new employees, a professional career and continuous training.
What can companies do to retain and attract talent?
According to the Center for American Progress , the flight of talent supposes for the companies a loss of up to 20% of the annual salary of the worker . But, in addition, the fact that workers leave their jobs in a company has other negative effects such as the bad image of the company in the market, the loss of valuable talent or the decrease in productivity.
With the current scenario, organizations must strive to attract and retain talent and these are some aspects that they can consider:
Apply hybrid and flexible models
Hybrid work can take various forms, such as employees going to the office on some days and working from home on others. Or that some workers always work in the office and others always from home. The choice will depend on the type of activity carried out, but flexibility must always be provided to prevent employees from wanting to change jobs .
According to Wakefield Research , 90% of employees miss going to the office and being able to chat with their colleagues.
Use technology to prevent brain drain
Data analysis is a trend in many business fields. In relation to the human resources of companies, the study of large volumes of information can help predict the brain drain. In addition to helping us understand why it is occurring in order to avoid it.
Apply process automation
Process automation is a great help in increasing employee satisfaction and happiness. It can be applied in the selection process, in onboarding and in day-to-day HR management. In this way, employees are able to focus on adding value to the organization and not waste time on repetitive and tedious tasks.
Offer continuous training
We have seen that the possibility of progressing in the company is highly appreciated by employees, so continuous training is key. Distance training plans can be drawn up so that employees have the opportunity to learn and improve their skills at any time.
Only 20% of Spanish companies take advantage of their credit for Programmed Training, according to Fundae.
Retaining talent is a challenge for any company, so knowing the reasons why employees want to change jobs and taking action is essential to avoid the flight of valuable professionals and a bad image in the market.
The automation of processes and the improvement of the employee experience must come hand in hand with technology and software such as Sage’s focused on human capital management.