Employers Expect Hiring Increases but Worry About Retention

1.26.2021 | Seventy-six percent of companies believe hiring demand in 2021 will approach, return to, or exceed pre-pandemic levels. At the same time, 39% of companies believe at least one in five of their employees are seeking jobs elsewhere. These stats stem from the “2021 Future of Recruiting Study,” a survey recently conducted by CareerArc, which further reveals that employers’ retention concerns are valid. Of full-time employees in the U.S., 61% are seeking new jobs in 2021. Additionally, work-life balance is taking priority over pay and job stability.

Job Growth

• 76% of companies believe hiring demand will near, match, or exceed pre-pandemic levels

• Half of American adults are optimistic about job growth

  • 51% believe it will increase under the Biden presidency

  • 28% predict it will decrease under the new administration

  • 21% say it will have a neutral impact under the new president

Talent Retention

• 39% of companies believe at least one in five of their employees are seeking positions elsewhere

• 61% of full-time employees are seeking a new job in 2021

Deal Breakers for Job Seekers

• 53% would not apply for a job offering less or poor work-life balance

• 50% would not apply for a job offering a lower salary

• 48% would not apply for a job at a company with decreasing profits and a lack of stability

Bottom line

While employers look to hire candidates in 2021, they should not overlook their current talent. Most employees have prioritized work-life balance and by properly addressing this need and others, companies can increase retention of current and soon-to-be-hired staff.