“HR has had to reinvent itself, really take a seat at the table and drive the development of the organization for its people,” Votaw told HRD. “For far too long, HR managers have been ill-dressed and asked for permission when they really needed to step up and lead. The position should not be referred to the back office, which does benefits and health and well-being – it should build the infrastructure and values that help run the business. “
HR executives have had their hands full during The Great Resignation, where companies across the United States are experiencing historic revenue. More than 47 million U.S. workers quit their jobs last year, according to the U.S. Bureau of Labor Statistics. The pandemic has forced people to reconsider their priorities in life, especially when it comes to their careers. As a result, employees have left their position for greener pastures, demanding higher wages, better working conditions and more opportunities for career development and work-life balance.
With the weight tilted in favor of labor, companies have to bend backwards to fill positions. To combat the nationwide staff shortage, HR executives need to increase their compensation and benefit packages beyond the traditional health, dental, vision and 401 (k) offerings. What was once seen as “nice-to-have” perks, as well as unlimited paid leave (PTO) and reimbursement of tuition, will be crucial. Other accommodations, such as pet insurance, scholarships for homework and mental health support, are also in high demand.
What employees want most, says Votaw, is to have a good experience at work, to feel that they mean something, to have flexibility and to establish a relationship of trust. “If you can not keep them, you will not be able to attract them,” she says. “Your current employees are your best brand ambassadors. If they are not happy, they will not invite others and will actually tell people that you are not a good company to work for. Retention sets the table for recruitment. “