The Great Reshuffle is affecting all industry sectors and the companies that have adapted their approach to working, recruiting and engaging staff are the companies that are weathering the storm the best.
What is the Great Reshuffle?
As a result of the global pandemic, the recruitment industry has seen a huge shift in what people are looking for from their employers, their job roles and their lives.
Immediately after the first lockdown, when life returned to some sort of normality, we witnessed a ‘Great Resignation’. A vast number of people resigned from their roles, resulting in a record number of open positions. The Office for National Statistics (ONS) data quoted in a LinkedIn report shows that currently, the UK has its highest rates of people moving to new jobs and leaving old jobs for at least seven years. This has created a staff shortage in many industries.
The Great Resignation has morphed into what is being referred to as the Great Reshuffle, as discussed on the World Economic Forum. With time, it has become evident that many people who resigned from their roles did not withdraw from the employment market altogether, rather they are seeking work that better fits with their values and life choices, provides a better work-life balance and is more fulfilling.
For some, this has meant starting their own businesses or making a complete career change, but for many it has been a search for a better paid, more flexible job. The pandemic has proven that flexible working arrangements really do work and people now want to fit their work around their lives, rather than having to cram their lives into the gaps between work.
Along with record highs in the volume of vacancies, salaries have risen, benefits have improved and flexible working options have increased. This has made the employment market even more competitive.
Why is the Great Reshuffle important?
Understanding what is motivating employees and job seekers is a critical step in employee retention and candidate attraction. With this in mind, many employers are now reviewing their working policies and implementing flexible or hybrid working practices and redefining their Employee Value Propositions (EVP) in line with the emergence of new candidate motivators.
To ensure strong employee engagement, it is also important to appreciate the generational differences and how each generation is motivated slightly differently.
Repositioning your company as an employer of choice
The first step in understanding how successfully you are engaging your staff is to conduct an anonymous employee survey, either conducted internally or by an external third party. This provides important data on areas that need addressing or improving.
Carrying out the survey is just the first step though, now you have the data, you need to act on it. You can begin to review your working practices and flexible working policies, then assess the effectiveness of your EVP for your current and future workforce.
The infographic below demonstrates the Emotional, Experiential and Contractual elements that employees/potential employees are looking for now in an employer. It also looks at how you can ensure you are Competitive, Differentiated and Unique.
It’s important for employers to understand the changing landscape of the recruitment industry to ensure you retain current staff and are capable of attracting high-calibre talent.
This clearly evidences the drive for a ‘feel good factor’ from one’s work. Can your business offer that to its employees and prospective new hires?
In addition to this, the different generations are looking for slightly different things from an employer and this is important to understand to ensure your company and EVP appeal across all generations and is completely inclusive. Assuming everyone wants the same thing will get you nowhere!
Generational Motivators
The table below demonstrates the generational motivators.
How to future-proof your workforce
Don’t wait to take action until the Great Reshuffle turns your workforce into a house of cards. Engage, discover, plan and act now to ensure you retain your existing skills and beat your competitors to fresh new talent.
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To discuss your needs further and future proof your workforce, contact us.
