For decades, organizations have been trying to win the “hiring game” — finding the right people for their organization. This is by no means an easy feat, as it requires not only finding candidates with the right skills and capabilities to perform the job, but also the right attitude and mindset to develop further and reach their potential.
It’s been argued that in the current climate, organizations need luck just as much as competent recruiters and recruitment strategies in order to find that “perfect candidate”.
However, I’m of the view that what businesses have previously defined as the “right hire” has adapted and changed — as have the expectations of candidates, who now have different priorities when it comes to selecting their “ideal” next role.
The COVID-19 pandemic and the ensuing Great Resignation contributed to this shift of mindset on both sides, causing significant ramifications when it comes to available talent and placing further pressure on organizations.
While it was mainly professionals aged between 20 and 30 leaving jobs at the start of the pandemic, this pattern is shifting. According to people analytics provider Visier’s “Stop the Exit” report, which considers resignation rate percentage increase by age group, the 20-25 year age group still has the highest resignation numbers, but older age groups are joining the trend. In fact, the rate of increase for age groups that are typically slower to change has increased at a significant rate, with resignation rates for employees aged between 30 and 50 climbing by over 38%.
The reasons why people in the latter age group are leaving their positions are numerous: changes in priorities, early retirement, better opportunities, mental health, more flexible work set ups and so on.
But I think it’s more than that.
The new hierarchy of employee needs
The pandemic has had a profound effect on how people feel about life and work. While organizations continue to find their feet after two years of pandemic life, remote work, furloughs and isolation have disrupted society, causing a marked change in mindset. But many organizations have simply proceeded with their operations, culture and recruitment processes as before.
In a time where the market is candidate-driven and companies are eagerly looking — and competing — for skilled candidates to fill their many vacancies, organizations must change the way they hire to attract talent.
Understanding the shift in priorities and changing expectations of employees is key for organizations to succeed in the hiring game. To stand out from the crowd, you need to know what attracts modern job-seekers — and tailor your job search around this.