Written by Julie Rupenski, Medbest
We’re all familiar with the coined terms “The Great Depression” and “The Great Recession”. Today, we’re in the midst of what’s being called “The Great Resignation.”
The Great Resignation is the ongoing trend of employees voluntarily leaving their jobs, from Spring 2021 to the present, in response to the COVID-19 pandemic. It was first labeled The Great Resignation by Anthony Klotz, a professor of management at Mays Business School of Texas A&M University.
The U.S. Bureau of Labor states that 4 million Americans quit their jobs in July 2021. Resignations were at their highest in April and have remained abnormally high since. We’ve actually had a record-breaking 10.9 million open jobs at the end of July.
Who is Resigning?
Harvard Business Review (HBR) conducted a study and found that mid-level employees between the ages of 30 and 45, have had the greatest increase in resignation rates. Mid-level employees may have delayed resigning their jobs due to the uncertainty of the pandemic. This could mean that the numbers we’ve seen over the past several months could be the result of pent-up resignations.
HBR’s study also accounts for the many workers who may have simply reached a breaking point or burnout after months and months of high workloads, hiring freezes, wage freezes, etc. causing them to reconsider their current roles and careers. Furthermore, since this is a candidate’s market and there’s a plethora of current job openings, many left for better opportunities.
We’ve also experienced a wave of workers move from the office to working fully remote. Many companies are now insisting that workers return to offices. However, many workers would like to stay remote or enjoy a hybrid schedule. Therefore, they’re moving to companies that fit their work style preferences.
Caught off Guard.
Frankly, The Great Resignation caught many employers off-guard because it ran contrary to traditional job markets. From past experience, during downturns, employers could take advantage of people and yet employees would stay and be grateful to still have a job. Additional perks or frills weren’t necessary. But it seems that today’s workers will no longer accept the unacceptable. They’re moving on. Therefore, employers will suffer big employment gaps and even bigger retention issues.
Industries Affected Most by The Great Resignation:
Fast Company, a leading business magazine, found that 4 industries have been greatly affected by The Great Resignation:
Healthcare: Employee burnout is the #1 reason. The turnover rate for staff RNs increased by 2.8% in 2020, reaching 18.7%. Hospitals and Senior Living organizations both have high vacancy rates for RNs and currently it can take up to 89 days to recruit and onboard a new nurse. The same is true with physicians. COVID-19 has caused them to change their employment plans, and many are retiring.
Retail & Hospitality: We’ve all seen signs posted at restaurants and retailers that read: “Please be patient, we are understaffed.” The pandemic hit this industry especially hard due to shutdowns which caused employees to move into new occupations at grocery stores or big box stores or transfer job skills to other industries. Now that venues are opening back up, many of these workers are not coming back. They’re gainfully employed elsewhere.
Manufacturing: People are leaving their current employer to follow the money, especially lower paid hourly workers. Manufacturers are scrambling right now to raise pay and add sign-on bonuses to attract workers.
Technology: Several factors have led to Big Tech resignations. Many are suffering burnout and are opting to work for smaller companies. Many more have been lured away by competitors. However, for some, now is the time to create their own tech start-up company due abundant funding and greater opportunities.
There’s no immediate end in sight for The Great Resignation. Millions of workers have already quit and ultimately, created significant disruption for many organizations. What should employers be doing to counter it? Smart employers should be reviewing their workplace policies and retention strategies and making immediate changes. Employers should also look at this as a tremendous opportunity to pick up top talent since the job market is being flooded right now with good people looking for something different and better.
Read the original blog by Julie Rupenski
The need for Senior Living interim leadership has been skyrocketing due to the COVID crisis combined with the ongoing talent shortage that has challenged our industry for years. Because of this talent gap, Interim executives are in high-demand and considered safeguards when it comes to maintaining leadership stability and organizational success.
Hiring an interim executive allows Senior Living organizations and communities to take stock, think about the role, make necessary changes, and then recruit the right permanent leader. Interim consultants can play a key role in assessing the position and making suggestions for what to look for in the next hire. Interims give insight into leadership that Senior Living needs today.
When should you consider Interim Leadership?
What should you look for in an Interim Leader?
Interim executives should be highly experienced within Senior Living and be able to hit the ground running in order to make a seamless transition. Many interims are later in their careers and therefore, have experienced a little bit of everything, which makes them good at stepping right in and managing a tough situation. They also offer strategic advice as they bring different points of view and fresh ideas.When considering an interim leader, it’s important to also look at their soft skills. A good interim executive wants to make a difference, has passion for the industry, offers compassion to both staff and residents, offers creative solutions, and will have a positive and supportive effect. They should also understand the organization’s culture, mission, and team, and work successfully within that context.
What should the Board of Directors expect from an Interim Leader?
What are the most popular senior living executive interim placements right now?
If your senior living organization is short-handed and your team stretched too thin during this COVID crisis, hiring an interim professional is a viable solution and great safety net. Many communities are opting for short-term coverage while they seek to permanently fill a vacant key position. Interim leadership can be critical to minimizing business disruption and maintaining organizational stability and success.
Julie Rupenski | MedBest
These past two months have been difficult as we have witnessed and experienced one of the most globally disruptive events in history. Flights have been canceled, conferences have been postponed or revamped to virtual, and many employees are working from home. However, in health care and senior living facilities, it’s all hands on-deck.
This is a challenging time, filled with uncertainty and sudden change. Nothing close to business as usual. We’re hearing from many senior living organizations that they are steadily hiring interim and full-time professionals to keep up with the fast and ever-changing pace and in some states, they’re asking health care retirees to return to work.
When asked for advice on the best way to interview candidates safely and quickly, we recommend a well-prepared phone or video interview. It’s especially useful when trying to screen and pare down first round candidates without risking the health of all parties. However, without the proper planning and coordination, you could potentially lose a candidate’s interest.
What’s the Best Way to Prepare for a Phone (including FaceTime) or Video Interview?
Know Who You’re Looking For
To make your telephone or video interviews effective, plan ahead and create an accurate job description. Do you need an interim or permanent professional? What are the most important factors and functions of the job? Figure out what you need to hear from a candidate for them to advance to the next stage of the process. Clarity as to whom you’re looking for will help guide the questions to ask during the interview.
Plan Your Questions
Once you know the background, traits, and qualifications of the perfect fit, plan questions to ask but make them conversational. The best phone or video interviews are free-flowing, allowing both the employer and candidate to explore if the job is a good fit. Plus, a good conversation will help to eliminate any lapses in the discussion and awkward silence. Most phone and video interviews last about 30 minutes and you should plan on asking 5 to 10 questions.
Test Your Equipment & Surroundings
The day before the interview, test your video and audio equipment and check the lighting. Are the acoustics in the room acceptable? Is the lighting too light or too dark? Is the type of video technology you’re using the best? Next, it’s important to conduct a dry run. By being totally prepared, you can avoid possible glitches.
Put Your Candidates at Ease
Let your candidates know upfront that sometimes these types of interviews can feel a bit impersonal and somewhat awkward, and that you’ll make every effort to put then at ease. Not everyone is comfortable in front of a camera. Give the candidate the opportunity to show a little of who they are by starting with some small talk. Ease into the tougher questions during the later stages of the interview. This is a good way to calm the nerves and allow the interview to flow smoothly.
End Interview on a Positive Note
The best way to end an interview is to advise the candidates how and when you’re going to be in contact and whether any further steps need to be taken such as scheduling a second interview, completion of forms, behavioral assessments, etc. In addition, thank the candidate for their time. Common courtesy creates a positive impression.
Interviewing and hiring are certainly areas which are feeling the effects of this crisis with all parties involved adjusting to the situation. We expect an uptick of senior living organizations to change their in-person interviews to video or phone interviews, a necessary step to screen candidates with safety in mind.
Contact Julie: email@example.com