THE W I D E S P R E A D S T R
There ’ s a feeling of hope in the air as we begin to reimagine life following the devastation of the COVID-19 pandemic . Yet , it ’ s undeniable that we ’ re all returning to a very different world than the one we knew . It ’ s a job-seekers ’ market , and despite the influx of employers seeking employees , many businesses are struggling to find and retain talent within their organizations . Understanding what employees want , and taking stock of your own recruiting strategies , can help keep your business on top of trends and position you as an employer of choice for years to come .
GENERATION AGE IN 2021 Generation Z ages 9-24 *
Millennials ages 25-40
Generation X ages 41-56
Boomers ages 57-75
Silent
Born 1928-45
Born 1946-64
The Generations Defined
Born 1965-80
Born 1981-96
Born 1997-2012
ages 76-93 1920 1940 1960 1980 2000 2020
* No chronological endpoint has been set for this group . For this analysis , Generatioin Z is defined as those ages 9-24 in 2021 .
Did COVID-19 Kill The Workforce ?
“ Help Wanted ” signs have been popping up all over the U . S . for months and online job-posting sites are inundated with available positions . Employers are ready to bring their talent back to work . Unfortunately , employees don ’ t appear as eager .
Some say increased unemployment benefits , by way of the CARES Act , deterred employees from returning to work . But that claim fails to tell the whole story . While the pandemic certainly escalated the battle for top talent among employers , we know other concerns have weighed on employees ’ minds for much longer . COVID-19 may not have killed the workforce – but it may have fueled the perfect storm .
Numerous studies ( local , statewide , and national ) have tried to get to the bottom of the talent shortage and why it ’ s increasingly difficult to retain existing talent . Findings point to health concerns , under-compensation , and a desire to change career fields as primary reasons some employees have chosen to delay their return to work . Furthermore , data from the U . S . Bureau of Labor Statistics show even those who were able to retain their positions during the pandemic are now quitting their jobs in record numbers . In April 2021 alone , 4 million people reportedly quit their jobs in what ’ s now being called “ The Great Resignation .” What ’ s more , data from researchers at Microsoft ® indicates that 40 percent of the global workforce is ready to resign by the end of the year .
Clearly , employers must do more to attract and retain employees at all levels .
What Are Some Employers Doing To Bring Back Employees After COVID ?
• Offering hazard pay and sign-on bonuses
• Improving and expanding healthcare offerings
• Increasing PTO available to employees and encouraging PTO use when needed
• Offering mental health services and resources as a benefit of employment
• Offering flexible work-from-home options
The Generational Shift
While the pandemic has certainly accelerated the need for businesses to do more in the area of recruitment and retention , we must remember other factors , like generational shifts in the workforce , were already well-established prepandemic – albeit at a much slower pace .
In 2019 , Millennials officially eclipsed Baby Boomers , and
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