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 a priority over pay and job stability.
- 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
- 39% of companies believe at least one in five their employees are seeking positions elsewhere
- 61% of fulltime 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 lower salary
- 48% would not apply for a job at a company with decreasing profits and lack of stability
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.