While the “Great Resignation” has impacted every industry, the vast majority of job turnover in 2020 and 2021 occurred in sectors like hospitality, retail, and foodservice. With so much tumult in industries that rely on hourly workers, it’s time to start developing innovative strategies to win hourly talent during this critical moment in the labor market.
In order to analyze how organizations can hire hourly workers more effectively in 2022, we partnered with Boston Consulting Group (BCG) on a report titled, Surviving the “Great Resignation”. In this data-driven whitepaper, the experts over at BCG offer four actionable interventions companies can implement to hire more workers during this challenging time in hiring.
One solution presented in the report that we’re particularly passionate about is the need to accelerate the hiring process. According to BCG’s findings, employers who extend offers in fewer than seven days yield 80% more hires on average than those with longer timelines.
Addressing this “speed shortage” should be action item number one for organizations that hire a high volume of hourly workers. Tightening up time-to-hire is a simple way to win hourly talent over competitors. If one company takes 30 days to hire and another takes just three, there is no doubt that workers will lean toward taking a role at the company that is quicker to send them an offer.
The first step to shortening the time it takes for your organization to hire is by implementing the right hiring software. Whether you choose Fountain or a different hiring platform, be sure to prioritize mobile-friendly products that enable applicants to apply directly from their phones, which can help significantly shorten time-to-hire.
Speeding up the hiring process is just one of the four interventions outlined in our report with BCG. To see the facts and figures behind this solution and read up on the rest of BCG’s recommendations, download Surviving the “Great Resignation” here!