A record number of people quit their jobs in 2021, and companies are scrambling to find ways to attract new workers, according to CNN.
What’s happening: With almost 11 million open positions at the end of 2021, employers have begun “to sweeten their offerings in terms of benefits, pay and flexibility.”
Greater work flexibility: One of the perks that seems to be helping retain some workers is increased flexibility in work schedule, a finding in line with the results of a recent Manufacturing Institute–BKD study:
- Fifty-six percent of respondents “noted a need for increased worker flexibility, and roughly half had reevaluated what work could be done remotely where possible. With that, 41% said that their business was working to reengineer the production process with social distancing in mind.”
- The MI recently held a roundtable discussion on this very topic. Get a free recording of the webinar here.
Pre-job paid vacation: Workers are also responding favorably to paid time off—before they start a job.
- One “company started offering ‘pre-PTO’ that offers new hires a week of paid time off before their first day of work. … [It] created a task force that spoke with recruiters, current employees and candidates who had turned down offers at the firm, to come up with innovative ways to solve the hiring challenges. ‘Without a doubt, PTO-related new benefits were the most popular,’” the firm’s chief people officer said.
Quick offers, more cash: A health care provider has begun offering sign-on bonuses of up to $17,500 for particularly hard-to-fill remote jobs, and it gave every employee a 4% raise in 2021.
- Said the company’s executive vice president: “For many of our roles that don’t require licensure or certification … you show up, get a same-day offer and begin work the following Monday, if possible.”