HUMAN RESOURCES
RECRUITING AND RETAINING TALENT: IT’S ALL ABOUT THE RELATIONSHIP
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By Kristin Scott, president, Scott Human Resources
avvy leaders have always known the secret to recruiting and retaining talent is All About the Relationship! This practice is especially true in today’s employment environment. The core challenge is how do we communicate that we care about and value others? Let’s consider recruitment first. I recently heard a statistic that there are 15 million jobs open and only 10 million individuals seeking employment. This is a huge gap. Organizations will have to get creative in locating and attracting talent to fill positions.
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Some workers have decided to take early retirement. The experts say those individuals are not returning to the workforce. I suspect that if inflation continues to rise, early retirees may be forced to come back to the workforce based on the market. There is a childcare shortage across America. If parents are lucky enough to find childcare, the costs can be very
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high. For some families, it makes more sense to be a one-income family because after paying for childcare the financial gain is too low. Many have left traditional jobs and started their own businesses. An article by Small Business Trends shares that there were more than five million small business applications in 2021.1 Three percent of adults in America are working gig jobs.
Recruiting
With the volume of positions available, recruiters must be intentional with recruitment efforts. Here is a list of strategies that many companies are finding successful. • Sign-on bonuses are almost standard now. In the Midwest, we have seen sign-on bonuses as high as $20,000 in the healthcare field for nursing positions. • Consider modifying benefits: extending student loan repayments, enhancing hybrid and remote work opportunities, negotiating time off and much more. continued on page 34
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