It is becoming increasingly well documented that knowledge workers across the country are leaving their jobs. For some, it’s a matter of plain old burnout, while for others, it’s a matter of re-prioritizing.
In March 2021, Microsoft’s Work Trends Index report found that 41% of workers globally thought about quitting their jobs. Furthermore, 54% of those surveyed said they are overworked, while 39% said they are tired.
In fact the findings support this data: “urgent” hiring needs are up 50% since the start of the year. Big trends data from the US government also shows that there are not enough workers to play an open role in the economy.
Enterprises across the country are struggling to keep hiring right now and are finding that workers’ expectations are changing. Referred to as the “Great Resignation”, this labor shortage presents unique challenges for businesses and could change the way our society moves forward.
BrainTrust Findings: A Worker’s Market
BrainTrust, a user-owned talent network, recently conducted a study to explore how knowledge workers with open roles across the country meet their needs. He U.S. We analyzed open job positions in over 600 of the largest brands and well-known businesses.
The report looked at more than 150,000 open knowledge worker roles. It shows the mean of 66 open roles per business. 6% of businesses need to employ more than 1,000 workers.
A closer look at the situation reveals that technical roles are in particularly high demand. There are currently around 1 in 3 technical roles that need to be filled in businesses across the country.
Competition is high for knowledge roles and especially technical roles.
Therefore, it is important for your business to have a reputation as an employer for the knowledge personnel already employed. But, you also have to understand how to attract the new employees your growing business will need in the future.
Understanding What Knowledge Workers Want During the Great Resignation
A year later, when everyone’s world was turned upside down, knowledge workers had to adapt. BrainTrust surveyed 800 knowledge workers around the world to learn about their needs and expectations. Their reactions may not be as you expected.
Only 4% of knowledge workers said that traditional benefits like health insurance and 401(k)s are the reasons they prefer full-time employment. Instead, more freedom to choose when and how much they work is more important to them in the job. Surprisingly, many do not consider full-time employment to be more secure than free independent work.
Although Zoom fatigue is real, knowledge workers said that location freedom and remote working were most important to them in the job, with 2 out of 3 workers surveyed considering those issues as their top priority. Other popular benefits include being your own boss, job selection, and hours.
Three things your business can do to attract knowledge workers
Being an attractive employer during great resignation starts with accomplishing what workers want most: independence.
This is no easy task, as many companies have long-standing structures that tie them to an office culture. However, continuing with business as usual can have a disastrous effect on your company, as a staff shortage shows no sign of defeat.
Here are three ways to optimize your business to attract skilled knowledge personnel and overcome the challenges posed by great resignation.
1. Motion Location Freedom
The biggest disconnect, according to BrainTrust, is the gap between the roles employers are trying to fill and the expectations of workers. While last year would suggest that more and more companies are moving away, only 6% of open knowledge worker roles are actually hiring as the first remote. Because 67% of knowledge workers say they want location independence, the best way to give your company an edge and attract applicants to these high-demand positions is to offer remote roles.
Offering remote jobs is also helpful because of the disconnect between where qualified knowledge workers live and where knowledge worker roles are most needed to fill.
For example, 29% of open knowledge worker jobs are in the South. But, the number of remote-first openings is the smallest in the South.
By offering remote jobs, you can attract some of the best talent from across the country, no matter where you are.
Offering remote positions also shows that your company listens to the needs of its employees and is responsive to those needs.