Recruiting for the Best Talent: Harnessing the Power of "Quitfluencers”

The global economy may be entering a period of profound uncertainty, but it appears the Great Resignation – and the deep-seated concerns among skilled talent that sparked the exodus – does not appear to be receding.

A new global survey by LHH and The Adecco Group reveals that interest in job-jumping remains high, and that the Great Resignation has transformed the global talent market in ways that will endure beyond current economic conditions.

The research, Global Workforce of the Future, confirmed two key realities of the current talent market: first, that the appetite to quit and seek new opportunities continues to burn brightly in top talent; and second, that each voluntary separation is creating a “quitting contagion” which is tempting co-workers to take the same path to career advancement.

The Great Resignation remains a top global talent concern

The survey found that notwithstanding current economic uncertainty, 27 percent of all respondents in the survey want to leave their current job in the next 12 months. At the same time, another 44 percent of respondents were making their continued employment contingent on up-/reskilling opportunities.

Why are skilled workers still interested in changing jobs? For those interested in quitting, 45 percent said salary was their main concern, followed closely by better work life balance (35 percent), better career advancement opportunities (34 percent) and more flexible working conditions (30 percent).

Values also feature prominently as a lure for top talent

Three-quarters of respondents who are looking to make a move want “an employer who is focused on treating employees well.” Nearly six in 10 (58 percent) want DEI to be central to their employers’ values and business practices, 57 percent want the opportunity to work remotely some of the time, 55 percent want to work for companies that are committed to environmental and social sustainability.

Top talent is more aware of its value in the open labor market than ever before

The survey revealed that more than half of respondents believe that as potential job candidates, they will “have more power and options to choose jobs and where to work as companies struggle to retain and find talent.” This mindset is highest among Millennials (60 percent) and Gen X (58 percent). Top talent is also overwhelmingly confident that a new job could be procured quickly: the survey found 61 percent of all respondents felt they could find a new job in six months or less.

The Quitting Contagion is having a huge ripple effect through workforces

When a skilled worker quits to take an opportunity at another organization, it can spur other workers to pursue the same path. The survey found that these “quitfluencers” are having a significant impact on remaining employees with four in 10 (39 percent) of respondents admitting that “seeing others quit makes me think about quitting.” Gen Z and Millennials are most affected, with almost half of these workers evaluating their options.

The quitting contagion is most prevalent in countries like China, the United States and Australia, where up to 74 percent of people report seeing others quitting in their workplace.

It’s important to note that the quitting contagion is compelling as well: 69 percent of those workers who are influenced by a quitfluencer end up taking action to leave their current jobs by actively beginning the process, and half end up leaving.

How organizations can attract and harness the power of Quitfluencers

The enduring influence of the quitting contagion presents significant opportunities for organizations to acquire skilled talent. But it’s not enough to just post an ad and wait for candidates to come to you. The organizations that are winning the war for talent entering the open market because of the quitting contagion will be those that implement bold and methodical recruitment strategies.

1. Greater analytics to understand where your talent is coming from (and going to). Taking the time to figure out where your top hires are coming from, and why they are choosing your organization over others, provides the insight necessary to find the talent best suited for your workforce. You can focus your recruitment on companies that have already provided top candidates. It is all part of an effort to make your recruiting more strategic.
2. Ensure your EVP is compelling in direct comparison with your key talent competitors. The survey clearly shows that salary is a key motivator for top talent willing to make a move. In that context, it’s essential to make sure your EVP is compelling. This may require a compensation audit of existing employees and research to find out what the market is offering. Then, you can adjust your EVP to make you an employer of choice. It may also require new investments in upskilling, and a re-think on policies such as remote work.
3. Implement a strong referral program to capitalize on new hires. When you attract a quitfluencer, incentivize them to continue their influence and refer new talent to your organization. Think of it as an alumni network, in reverse: new hires can help you build a direct line to other candidates who may be motivated to move.

Recruiting in an age of the Quitting Contagion

There is no way to accurately predict where the global talent market is headed. Economic uncertainty driven by geopolitical conflict and inflation could drive the world into recession.

However, no matter what direction it takes, it’s important to remember that the Great Resignation has forever changed the mindset of skilled talent.

More than ever before, top candidates know their value in the open market. They also have a much clearer and more detailed picture of their ideal job. The organizations that can meet those expectations and take a data-driven approach to their talent attraction strategies will set themselves apart in this new hyper competitive talent landscape.

******

Download the full report, “Global Workforce of the Future: Unravelling the Talent Conundrum” for insights into the attitudes of the current workforce and food for thought to help you attract the best talent who will thrive in your organization.