Managing director of Felix Global reveals how you can capitalize on the Great Resignation
Marc Detampel is the managing director of Felix Global, a Chicago-based firm that offers full-service recruitment, leadership development, career transition and executive search expertise to top employers worldwide.
These have all been tremendous challenges for HR leaders over the past year, as they face a turbulent workforce with enhanced expectations on where their work takes place and what defines work/life balance.
Although the Great Resignation, in which companies across the United States have been experiencing historic turnover, has been massive hurdle for employers to overcome, Detampel argues it’s also a great opportunity to reset your employee value proposition.
Listen: HRD Talk Episode 5 – Don’t blame COVID-19 for the Great Resignation
“Make sure that your employee value proposition, which includes your company culture and how you support work/life balance, is well articulated,” Detampel told HRD. “How people are expected to be working and how they're going to stay connected with their colleagues and leaders has never been more important.”
Nearly 90% of employees prefer a role with remote options, according to San Francisco-based PRO Unlimited, an integrated workforce management platform provider. In other words, employers that offer such flexibility will capture 96% of the labor market while those that don’t will lose out on 58% of candidates.
Employees in the technology industry, such as those working in Silicon Valley, seem to desire the “WFH” lifestyle more than those in any other field. Roughly two-thirds of tech employees (66%) said they prefer working remotely full time, and 34% said they would only accept a full-time remote role. Just over 60% of network engineers and 47% of software engineers shared the same sentiment.
Offering such flexibility will be a boon to your recruiting efforts, which Detampel argues should’ve been ramped up before the Great Resignation. “The issue with many recruitment functions in corporate America is they turn the spigot on and off,” he says. “Corporate America tends to view recruiting as a variable cost – they'll cut a little bit when it's down. You should keep recruiting a constant effort, prospecting as much as possible and even reaching out to universities and associations to build a talent pipeline.”
In this episode of HRD Talk, Detampel analyzes the main contributors to this mass exodus of labor and shares more strategies for recruiting and retaining top talent during this extremely competitive market.