The ‘Great Resignation’ has been making headlines all around the world over the past few months. McKinsey reported that 40% of employees are likely to leave their current job within the next three to six months. A trend that is spread across all sectors, with manufacturing, hospitality and transportation affected more acutely. And when they asked employers for their perspective, 53% reported that they are experiencing higher voluntary turnover than in previous years; of these, 64%, about two thirds, expect this to remain high or even increase further.
At the same time, the ‘Great Hire’ has also been making headlines. In September 2021, the UK employment rate was estimated at 75.2%, 1.3 percentage points lower than before the pandemic, but 0.5 percentage points higher than the previous quarter. The number of job vacancies in the UK hit 1.034 million in June to August 2021, which is the first time vacancies have risen over one million since records began, and that number was 249,000 above its pre-pandemic level. Vacancies grew on the quarter by 269,300 (35.2%), with all industry sectors increasing their number of vacancies and the majority reaching record levels.
So, how do we make sense of this data as HR professionals? And more importantly what do we need to act upon? In this webcast, we share our insights, our recent research and Julia Andreeva, Global Talent Management leader at Perfetti van Melle outlines how they created a leading talent attraction strategy, which has enabled them to get ahead of the ‘great hire’.
Insights related to our fourth session:
