What is The Great Resignation 2022? If you insure a variety of staffing liability insurance clients, you may have heard of a recent trend wherein employees are quitting or moving to new jobs at higher rates than usual. Whether your clients have already experienced some of the effects of the Great Resignation themselves or whether they want to brace themselves for whatever 2022 may hold, there are several hiring and quitting trends that appear poised to continue well into the year. What are the biggest job trends in 2022? Continue reading to learn about the top trends that your clients may want to keep a close eye on.
Higher Turnover Than Usual May Continue Across Industries
High rates of turnover, one of the hallmarks of the Great Resignation, may continue across a variety of industries throughout 2022. There may be several reasons for this turnover. For example, your clients themselves may experience:
- Employees quitting due to frustration with the work environment or the pay and benefits
- High levels of turnover due to better job opportunities at other companies
- Employees leaving the company due to an interest in a significant career change
Some Employees May Demand Higher Wages or Better Benefits Packages
For workers who choose to remain in their positions rather than quitting, higher wages and better benefits packages may be the key to staying on board. Your clients may want to revise their current packages to consider extending some or all of the following perks to their current employees in order to avoid further turnover:
- A higher base salary
- More frequent bonuses
- Additional company discounts
- An expanded benefits package, which may include additional insurance, wellness programs, childcare programs, and more
Hiring Managers May Check for Good Fits With Company Culture
If your clients want to hire additional workers throughout the year, they may find that their hiring managers are interested in checking not only for basic qualifications and expertise, but for a good cultural fit with the rest of the company as well. For instance, your clients’ hiring managers, and many other HR professionals across industries, may be seeking:
- A team player
- A cultural match for the workplace
- A good fit with the company’s core mission
- A creative, out-of-the-box thinker
- A supportive and caring individual
- A punctual and reliable job candidate
Whether your staffing liability insurance clients have already encountered effects of the Great Resignation in their own workplaces or whether they just want to prepare for potential trickle-down effects throughout the year, there are several quitting and hiring trends you can advise them to keep an eye on in 2022. High rates of turnover across different industries, requests for higher wages or additional benefits, and hiring checks for cultural fits are all trends that your clients may want to brace for. With this list, you can help equip them to handle the Great Resignation’s impacts on their business.
About World Wide Specialty Programs
For the last 50 years, World Wide Specialty Programs has dedicated itself to providing the optimal products and solutions for the staffing industry. As the only insurance firm to be an ASA commercial liability partner, we are committed to that partnership and committed to using our knowledge of the industry to provide staffing firms with the best possible coverage. For more information about Staffing Professional Liability Insurance or any other coverage, we have available to protect your staffing business, give us a call at (877) 256-0468 to speak with one of our representatives.