What can organizations do to attract new talent?
Retaining talent and attracting employees in today’s employment market has been challenging for many employers across the country and globally. In the world of HR, it’s being referred to as the “Great Resignation”. According to Statistics Canada, there are approximately 915,000 job vacancies across the country, 80% higher than in 2019. In another study recently conducted by Microsoft, 37% of Canadian workers said they are open to new opportunities.
This trend is being attributed to:
- limited candidates with the right caliber of qualifications
- people leaving traditional jobs to start their own business
- people switching jobs or industries
- employers competing for talent
- rising inflation
These are just some of the issues employers face as they race to fill vacancies and retain employees. Even though some Employers may be able to hire, their high attrition rates make it difficult to transfer knowledge to new employees. No doubt, this is having an impact on onboarding and ultimately productivity.