Work flexibility galore, benefits packages stretched, and expensive worker perks that make any CFO nervous have become workplace realities to ensure talent acquisition and retention goals are fulfilled. Even with the fulfilled wishes of most people leaders, talent sourcing is still a costly and lengthy challenge according to hiring managers.
Upwork (NASDAQ: UPWK) released its 2022 “Future Workforce Report with workforce data from over 1,000 U.S. hiring managers. These hiring managers reported that 60% cite talent sourcing challenges finding quality candidates to fill open positions all while 69% say they anticipate staffing up over the next six months. Additionally, these hiring managers will engage freelance talent at 80% over the next six months and 58% over the next two years to bridge the gap.
“Businesses that engage independent talent are already seeing the benefits of embracing a more adaptable strategy,” said Tony Buffum, VP of HR client strategy, Upwork. “Our research shows that not only are they more optimistic about the difficult hiring landscape, but they also feel more confident in their company’s ability to respond to disruption, be it economic, geopolitical, or other global market forces. That’s why we are seeing companies increasingly rely on more modern, flexible pools of talent.”
CareerBuilder (NASDAQ: CBDR)recently published survey results from their latest Harris Poll survey detailing that 52% of workers are content in their roles and not actively job searching whereas 23% of Gen Z, 24% of Millennials and 14% of Gen X among those actively looking for a new job. This signals talent sourcing overall is limited to a candidate pool that is simply not engaged.
On average, the data shows that a quarter of employed adults have been at their company for three to five years with about one in 10 employees (9%) who have been working at their current company for less than a year, 22% at their company for one to two years, and 20% for six to 10 years.
“With these new survey results, we see that one out of five employees have been at their company for six to 10 years indicating that workers value loyalty and a healthy work culture,” said Kristin Kelley, Chief Marketing Officer at CareerBuilder. “As employers, we strive to keep our teams motivated and happy. This new data helps inform and open the lines of communication, so employers can meet folks where they are, providing an ideal environment that allows everyone to prioritize wellness, flexibility and work-life balance.”