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.

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 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

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.

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