According to the recent jobs report, 428,000 jobs were added, and the unemployment rate remains unchanged at 3.6%. The good news is that 95% of the jobs that were lost during the pandemic are now recovered.
Are we still looking at the Great Resignation or is it instead a great reset?
The term “Great Resignation” became commonplace during the height of the pandemic. People across the world left their jobs. According to a survey by Pew Research Center, the top five reasons why Americans left their jobs in 2021 were: low pay, lack of job advancement, lack of respect, child care concerns and lack of flexibility. Interestingly, many who resigned and didn’t retire are now working full-time or part-time. Of those that were employed, 61% said it was somewhat easy to find a new job and at least half state that they are earning more, have greater advancement opportunities, better work-life balance as well as flexibility with their schedules.
It is obvious that workplace and organizational culture has been impacted. With companies having difficulty in filling open positions, job seekers can be much more selective when it comes to employment. What matters most? Work-life balance takes the lead over pay and benefits according to the Global Talent Trends 2022 released by LinkedIn.
Company culture matters and not just for employees but for job seekers. There is a 67% uptick in engagement when company posts include a reference to culture. According to the report, 40% of job seekers are looking for a stronger company culture and culture is comprised of a few things: professional development, flexibility, mental health and wellness, management training and diversity and inclusion.
- When employees are happy with the companies’ time and location flexibility, they are over twice as likely to state that they are happy and recommend working for the company.
- When employees feel like they are cared for, they are three times more likely to be happy and recommend employment at the company.
There are 31.4 million adults 18 and older who plan on changing jobs within the next year according to MRI-Simmons 2021 Fall Doublebase data. Ninety percent agree that it is important that they feel respected by their peers. (Note that, according to the Pew Research Center survey, this was a top reason for leaving a position.) Motivation is important to these job seekers – 95% agree that it is important to continue to learn new things. Nearly eight in ten adults (77%) enjoy challenging themselves by doing something new. These are all factors that job posters should include when advertising open positions within their organizations.
With the ability to reach adults at home or on the go, companies seeking to fill positions should consider radio as part of their job post plan. Radio is considered a local resource for information. It is part of the community and while some organizations see it as a medium to drive sales, traffic and brand awareness, some may not realize the impact that radio can have at driving recruitment – ranging from school bus drivers to manufacturers. Radio reaches 82% of adults who plan to look for a new job, 82% who attended a job fair both within the year or 83% who, within the past month, used a job search site/app, per MRI-Simmons.
Many advertisers tap into radio’s ability to deliver messages in a safe and trusted environment. Companies with positions to fill can benefit from this trust “halo” to communicate. They can not only promote the job opportunities available, but also the benefits of working at the organization. Because radio matters to listeners, using radio to reach potential job candidates can get the job done.
Author: Annette Malave, SVP/Insights, RAB