Boomerang Workers, Retention and the State of the Labor Market: Podcast Highlights
POSTED BY PRO UNLIMITED | MAY 27TH, 2022
The competition in today’s labor market is more intense than ever, and as the war for talent rages on, the challenge of attracting talent becomes increasingly complex. As a result, organizations today need to find more effective strategies to find and retain the right talent in helping their business succeed and grow.
Our Spring 2022 U.S. Labor Market Report delves into the latest trends in the labor market and provides data-driven takeaways to help companies reassess their strategies in how they navigate the labor market landscape so they can exceed their contingent workforce program goals.
NorthStar HCM managers Charles Vo and Michaela Thompson were deeply involved in creating the report, and along with fellow NorthStar HCM manager Rudy Troha provide additional insights and commentary on their findings in our new podcast, which delves into topics such as worker retention, shifts in worker priorities, redeployment, and more.
The Current State of the Market
The latest data from the report reveals that there is a rising trend of workers leaving their assignments early, and Michaela discusses some of the possible reasons behind it. These include a significant shift in worker priorities, the impact of the pandemic, a higher demand and additional opportunities for certain roles, and others.
Boomerang workers are individuals who left an employer for a different opportunity, and later decide that they want to return and work for that same employer again. Charles provides commentary on this shift, how the high demand for recruiters is making it difficult for companies to engage the right talent, and why organizations should consider direct sourcing to help fill open roles via their existing talent pool of potential boomerang workers.
The research reveals that workers make the decision to leave an employer with the first two months of their assignment. Michaela shares her findings on the importance for organizations to be much more proactive and engaged with workers during this time, since that can significantly help with worker retention, and the typical 90-day check-in point with management can be “too little, too late” when that worker has already made the decision to leave by then.
To learn more about the steps your organization can take to improve worker retention, the importance of providing remote work options, and utilizing redeployment as a talent sourcing strategy, listen to the full Spring 2022 U.S. Labor Market report podcast here.
If you’re interested in learning more about how PRO is helping organizations implement winning contingent workforce programs globally, please contact a PRO representative at 800.291.1099 or email at firstname.lastname@example.org.
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