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For employers, the pandemic’s economic crisis caused plenty of revisions in employment policies and procedures. Most organizations found innovative ways to retain talent while keeping their employees safe and productive. However, not every employer successfully kept the economic fallout at bay. Many had to face impactful changes to their workforce. As of January, an estimated 4.5 million Americans quit their positions and sought employment in a new role or another industry.
The Achievers Workforce Institute reported in 2021, 52 percent of employees did not intend to stay in their current roles and were seeking new employment. In addition, 64 percent of employees polled thought about leaving. And a shocking 77 percent of those employed in their current position for less than a year said they were open to seeking employment elsewhere.
Employers lost workers and had trouble replacing them as other companies offered more incentives. As employees continue to request higher pay, flexibility, and work-life balance, it is undoubtedly a candidates’ market.
In its 2021 State of the Legal Industry Report, Thomson Reuters Institute and the Center for Ethics and the Legal Profession at Georgetown University stated law firms could lose up to 25 percent of their legal talent annually.
According to the report, here are some of the actions employers can take to improve a firm’s position for retention or recruiting:
Finally, it is time for law firms to think beyond financial incentives. To effectively recruit and retain law firm talent today, you must continue to elevate the employee experience.
Listening to direct input from employees is one of the simplest ways to retain talent. If an action plan develops with employee concerns in mind, its success is more likely. Showing appreciation to a demoralized workforce is crucial. Seventy-nine percent of people leaving their jobs say they feel unappreciated.
The truth is the solution to keeping your best talent is not scientific. Employers willing to offer growth and opportunity within a high-performance work culture will incentivize employees to stay.
The solution is to bolster retention while ramping up your recruiting efforts immediately. Does your firm have recruiting marketing strategy? If not, now is the best time to create one.
Harvard Business Research suggests that employers take note of the following when retaining and recruiting employees:
Prove to employees that there’s more to your organization by defining your purpose. Don’t just talk about purpose. Use it to shape what you do and how you do it.
Give employees new opportunities to advance. Employees want to stay if you give them a reason to stay. Most importantly, each time you provide a chance for advancement, you provide incentives to the other team members to do their best work.
Take the time to connect and build relationships. Research revealed that the social connections within an organization during the pandemic positively impacted productivity.
At Strategic Recruitment Solutions, your success is our success. Our reputation for superior client satisfaction results from a tireless commitment to exceeding our clients’ objectives. We are the recruiting firm for top employers in New Orleans, Baton Rouge, and the Gulf Region.
Our recruiters will partner with you in searching for highly talented legal, management and technology hires. Furthermore, our recruiters will lend their industry knowledge, experience, tools, and technology to enhance your recruiting strategy. We have been matching top companies with top talent in the Gulf Region for over a decade. Call us today at 888-366-6508. We can help you find the best candidate to join your legal or IT team.
