A new report from the U.S. Bureau of Labor Statistics suggests the ‘Great Resignation’ will continue well into 2022. The study finds that 4.5 million American workers left their job in November 2021 – a record high; and while the numbers of those quitting their jobs is on the rise, so is the number of job opportunities for those leaving their current employers.
It is a sign of an energized economy according to Economic Policy Institute president Heidi Shierholz. In a recent Fortune article, Shierholz stated, “The dynamic we are seeing of a high quit rate combined with strong job growth is absolutely something to celebrate.”
The ‘Great Resignation’ trend has talent acquisition professionals vying for skilled talent leaving candidates with multiple job offers. This is definitely reason for celebration but Trailer Bridge Director of Talent Acquisition Amber Grant says candidates should review each offer carefully before making a decision. “You have to think beyond the right now and consider what your position will look like with the company in two to three years.”
To help candidates navigate the landscape, Grant says there are 3 often-overlooked factors to consider when selecting your next career move that are just as important as typical ones.
1. Financial Health of the Organization
The stability of a company is dependent on its financial health. It is important to understand the company’s wellbeing today as well as its growth strategy for the future. Is the company struggling to stay afloat or debt free? On the verge of an acquisition or going public?
These factors could affect roles throughout the organization – either positively or negatively – so it is important to consider when thinking about the longevity of your potential new role. Whether the business is public or private will affect your research on this information.
For public companies, you can easily find information like financials, acquisition news, bankruptcy reporting, etc., with a simple Google search. If you are working with a private business, you can certainly start with a Google search but you also have the right to ask questions regarding the financial health of the organization. Other online resources to use for your research are Dun & Bradstreet and Better Business Bureau (BBB).
Grant says it is a candidate’s right to ask questions about the financial health of an organization during the interview process. Questions she recommends asking are “How did your company handle COVID?” or “Has the company ever faced bankruptcy?”
2. Training & Development Opportunities
Research by Gallup Inc., an American analytics and advisory company, shows 57% of U.S. workers want to update their skills and 48% would consider switching jobs to do it. Choose a company that is willing to invest in you and help you build your skillset. This may look like job-specific training programs, leadership development programs and/or tuition reimbursement.
Trailer Bridge’s Chief People Officer Indie B. Bollman says that while training may be the new buzzword in 2022, it has always been an essential piece to cultivating not only an individual’s career but also a critical factor to a company’s growth. “I am passionate about offering development opportunities to our employees, as I’ve seen first-hand the impact it can have on an individual’s overall development,” added Bollman. “When a company focuses and invests in its employees, they thrive; and therefore, the customers win too.”
When a company is willing to invest in your growth today, it signals their interest in the long game and the potential for upward growth for you within their organization.
3. Workplace Culture
It is more than just a buzzword – workplace culture is critical to your overall job satisfaction and another key factor when considering your next career move. Indeed.com defines work culture as “a collection of attitudes, beliefs and behaviors that make up the regular atmosphere in a work environment.”
Whether the culture includes food trucks and community service projects or lunchtime yoga and an open door policy, finding a company that aligns with your personal desires is key.
“As talent acquisition specialists it’s about more than just filling a seat,” said Grant. “My goal is always to help the candidate find the right position where they can be successful for themselves and the company.” Selecting your next career move is an exciting time and when presented with multiple offers, you should take the time to weigh the options – thinking beyond the right now.
Learn more about career opportunities with Trailer Bridge at TrailerBridge.com/Careers/.