Following the COVID-19 pandemic, people have been talking about “The Great Resignation,” a phenomenon of people leaving their jobs in mass numbers. Since April 2021, more than nineteen million people have quit their jobs or resigned. It is affecting every industry in the United States and has had an impact on the Connecticut job market. Across the state, businesses are struggling to find the talent they need to continue production.
The Great Resignation Impacted Connecticut’s Job Market Significantly
Recent reports have shown that around 73% of people in the United States are thinking about leaving their jobs. Individuals are looking for different things from their employers. All of this has sent the resignation rate through the roof, hitting 2.9% earlier this year. That is a 20-year high.
Many people had to leave their jobs due to the pandemic. Parents – and more so women than men – had to return home to care for their children who were no longer in school. Some industries completely shut down for periods at a time. And in addition, many people received unemployment funds while staying home, making it less enticing to return to the workplace quickly.
But as people did return to work, they found that their perspective about their employment changed. Some people decided that they didn’t want to work in the same industry. Some people decided they wanted to work for more money than their employer was offering. Others chose to get into a more flexible line of work like temporary work or gig work, to allow them more flexibility. And thus, millions of people began quitting their jobs to look for greener pastures.
COVID Isn’t The Only Factor Influencing The Great Resignation in Connecticut
While The Great Resignation has been heavily tied to the COVID-19 pandemic, it is not the only reason employers are seeing an increased number of resignations. Employees have cited a variety of reasons behind why they are leaving their jobs in droves right now.
The number one reason people gave for resigning was low pay. Other top reasons behind leaving included not having any opportunities for advancement, no flexibility, too many/too few hours, childcare issues, and a general feeling of disrespect on the job.
In addition, many Baby Boomers have decided to retire. A large portion of the working population is hanging up their hats – many earlier than they originally planned.
That makes everything favor candidates when it comes time to hire. Businesses have to work hard to provide value for incoming talent or they’ll be left shorthanded. Even worse, you might not be able to keep up with the competition. So, what are job seekers looking for from their employers?
What Do Job Seekers Want From Employers in Connecticut?
Generally speaking, employees are looking for a more refined sense of purpose in their work. When there aren’t any clear goals for your team or any appreciation when said goals are met, they often become discouraged. If they work in this kind of environment for an extended period of time, they may feel like they have no purpose in the workplace and they won’t feel valued.
Another big thing employees are looking for is transparency from their place of work. You should be open with your employees about changes. For instance, there are a lot of things changing on the job regarding COVID-19 policies. Keep communication open about these changes. The same can be said of expectations on the job. Open communication and transparency are key to making sure no one feels disappointed by their position with your company.
Employees are also interested in finding an employer who values work-life balance. It was mentioned above that many employees left their jobs due to problems with childcare and lack of flexibility. Consider what you can provide your employees in terms of compensation, benefits, and flexibility. All of these will play a factor in your ability to attract and retain the best talent in your industry.
When Will The Great Resignation End in Connecticut?
The biggest question most employers in Connecticut and throughout the U.S. are asking is when will it end? Right now, there isn’t a specific date or time when economists expect it to end. However, with the rising cost of consumer goods, many job seekers will have their hands pushed and may have to take jobs they don’t necessarily want.
At the same time, as the economy becomes more stable again, political and social issues calm down, and the labor market will likely become stable again as well. It is just a matter of time before The Great Resignation comes to an end. Employers shouldn’t wait it out though.
Don’t Wait For The Great Resignation To End – Start Attracting Talent Now
As mentioned above, The Great Resignation didn’t start with the pandemic. High turnover has always been a conundrum for employers in every industry. There are many contributing factors to the large numbers of people leaving their jobs. That said, employers shouldn’t wait for the resignation to end. Instead, it is the prime time to start attracting new talent.
Check to be sure your benefits are aligned with your employees’ needs and potential candidates’ needs. Look for ways to provide advancement opportunities and flexibility for them. Build a solid culture that shows your company values employees as people, not just as workers.
The same things that will help you retain your current employees will help you attract new talent. Treat your staff well. Provide good pay and benefits. Become known as an employer of choice in your industry. Once you do that, you will have more applicants than you know what to do with.
Need to Hire for Jobs In Connecticut? Partner With an Expert Staffing Company
Companies that are trying to address The Great Resignation and are hiring for jobs in Connecticut should consider partnering with an expert staffing company. Working with professional staffers will help you identify trends in your industry and pinpoint ways you, as an employer, can keep up in the ever-changing job market.
You will also be able to discuss your goals and business plan with recruiters to establish the best hiring plan for your business. Agencies have professionals on staff with decades of experience in assisting employers like you. Each of them specializes in certain industries and placement types. Best of all, you can work with recruiters in Connecticut to find candidates in your community.
If you are looking for staffing companies in Connecticut, consider partnering with A.R. Mazzotta. Our team of recruiters can help you find the talent you are looking for. Contact us to learn more about our recruiting services or request an employee today.