Are you prepared for the next wave of employee attrition?

This past year, many employees have stayed in their jobs due to economic uncertainty, resulting in very low turnover. However, low turnover doesn’t mean employees are satisfied. Many feel stuck and want a change but haven’t made a move yet.?

Historically, low attrition periods are followed by high turnover. Early signs show nearly 85% of U.S. employees are considering job changes in 2024 as hiring stabilizes across various industries. Confidence in the economy usually increases attrition rates, so it's just a matter of when it will happen.?

Bracing for Increased Turnover?

Companies may be unprepared for a rise in employee turnover. Hiring slowdowns have led many to reduce recruiting teams to save costs, which seems logical until demand returns suddenly, and they can’t keep up.?

Businesses must anticipate and prepare for higher turnover. Even without growth plans, replacing departing employees is a crucial part of hiring.?

Consider these key questions to stay ahead:?

Are you showing employees their future? After being in the same role for a while, employees naturally seek new challenges and career growth, especially during uncertain times. They look for opportunities to learn new skills, take on new projects, or advance to new positions.?

How is your recruiting team doing? Now is a crucial time to check in with your recruiters, who will play a key role as turnover increases. Many have faced layoffs and managed significant changes in the labor market. Recruiters are your company’s ambassadors to potential candidates, and their enthusiasm is vital.?

Do your recruiters have the tools they need to adapt? Many recruiting teams are currently understaffed. How ready are they to handle a surge in job applications and referrals? Equip your teams to work smarter, not harder. Investing in advanced technology and tools like generative AI can help recruiters quickly scale up to meet demand.??

Empowering Your Recruiting Team?

Avoid being caught off guard with questions like: “Why is hiring taking so long?” or “Why are so many top employees leaving?” By taking proactive steps now, you can better retain and attract the right talent for the next wave of employee movement.

For expert guidance on workforce planning and staying ahead of labor market changes, reach out to The Reserves Network today. Our team is ready to assist you in ensuring your success in a dynamic market.?

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