That ever-so-critical time of year is here: new year hiring.
This cub reporter has some interesting insights to share with you now that we’re nearly through the month of January, settle in for some really fascinating facts and observations.
First, let’s rewind. The Great Resignation.
It’s basically a household buzzword at this point, and it isn’t getting any less trendy.
According to the latest Job Openings and Labor Turnover report from the Bureau of Labor Statistics (released January 4th, 2022), the voluntary quit rate reached an all-time high in Q4 with over 4 million people – FOUR MILLION – opting to leave their job.
This rivals what we saw at the end of last summer, so I think it’s safe to say we’re still in the thick of it. I think this is reflective of the candidate-driven hiring environment we’re seeing.
We’re taking it back and demanding work on our terms, and it’s kind of refreshing to see companies having to figure out how to humanize their hiring processes and cultures instead of looking at us as farm animals.
Second, entrepreneurship continues to rise.
And couldn’t be happier – giddy even – to see people taking charge of their futures and starting businesses. If you think back to the middle of last year, I reported on the fact that 2020 saw record-high new business formations as they had never tabulated since the stat started being recorded.
Guess what? We blew that out of the water in 2021!
5.4 million people started businesses (compared to 4.4 million in 2020).
I just love this! And, I’m happy to say we’re continuing our efforts to help people make safe, sustainable, risk-mitigated transitions from employment to entrepreneurship
And finally, third, what’s happening in hiring TODAY.
We always hype up new-year hiring, and I’ve gotta say, it’s disappointing me! Not in a terrible “the market is going to shut down” kind of way, but it’s a little laggy. I’m going to blame this on the carry-over of Omicron which is keeping hiring managers out of their routines as it cycles through the whole family.
The good news is, there’s action!
I’ve got some people seeing amazing results. From “I called two recruiters and got a job” to “I couldn’t get an interview to save my life, and now I have 7 second-round interviews” there’s a lot of things going right!
I expect this will ramp up and get stronger as January fades into February, Omicron (please, God) turns to dust, and we emerge into yet another version of life-as-usual, so keep up your efforts.
The moral of the story?
Set some goals and go after them, because they’re more attainable now than they’ve ever been.
Whether it’s negotiating $20k more on that salary, building your leadership skills (to combat your team falling into the Great Resignation), or exploring that nagging I’ve-always-wanted-to-do-something-of-my-own urge, now is your time.
It’s always so fun to give you these updates. I hope you’ll reach out and let me know how I can help you achieve whatever goal you have for yourself this year!
Your Friend and Coach,