35% of your people are looking for a new job right now
A study by Employment Office has found more than one in three of your talent are on the hunt for a new position – and they’re looking everyday. Another 35 per cent are checking weekly to monthly. In other words, 70 per cent of your workforce is open to moving to a new role.
These findings reflect the increasing number of millennials and ‘Generation Y’ job seekers. According to Kronos, millennials will make up more than 75 per cent of the Australian workforce by 2025 and the mobility of this generation (people aged between 15 and 35) is quickly defining the recruitment landscape.
Graduates are expected to embark on five different career paths and work in more than 17 organisations in their lifetime. Young people no longer dream of climbing the ranks in one industry, working in one organisation, in one location.
With almost two decades of experience in the recruitment industry, I’m confident this growing trend of workplace-hopping can’t be prevented. Although there are plenty of measures you can take to reduce high turnover, ultimately, millennials are defined by their desire for change, challenge and opportunity.
Hiring managers therefore must always be recruiting. Read on for my top tips that allow us to accept, prepare for and ultimately embrace short tenancy.
- Always advertise. Whether you are recruiting for a specific position or not, always be in front of job seekers. Like customers, touch-points with job seekers spark an interest in your organisation as an employer of choice, and encourage applicants to learn more about you. Advertise your general Careers Page on all major and industry job boards, and frequently share it from your social media networks. Such advertisements linking to your careers page ensures job seekers know about you and will enable you to build your talent pool, ready for when the next position opens up. Your Employer Branding campaign should guide the style, tone and imagery of your advertisements.
- Build your talent pool. Capture candidate information whenever possible. At a minimum, collect essential contact information and your applicants’ area of interest. The more information you can obtain, the better. At Employment Office, we call candidates in our talent pool ‘Corporate Insiders.’ Job seekers interested in a career at Employment Office can sign up with Facebook or LinkedIn, add their skills and qualifications, and be notified about new exciting career opportunities with us. I recommend sorting applicants according to their department of interest, as a disorganised talent pool will be difficult to sort through (particularly for teams of recruiters).
- Engage your talent pool. The level of candidate care you provide directly impacts the number and quality of applications you will receive for future job opportunities. Keep your talent-pool up to date with business achievements, but most importantly, with internal news and snackable content related to their area of interest. Candidates will feel valued and you’ll remain front-of-mind as their employer of choice.
The statistics all point to an increasingly fluid workforce. My advice to hiring managers is to always be recruiting whilst making the most of the limited time you have with your talent.
Author – Susanne Mather, Managing Director, Employment Office