In the past year, jobs offering hiring bonuses have doubled, according to Indeed, with 4.1% of Indeed job posting advertising hiring bonuses in June compared to 1.9% in the week ending July 1, 2020.
“Recruitment gambits like these underscore how some employers are throwing everything at the wall to see what sticks,” wrote Indeed Hiring Lab Economist AnnElizabeth Konkel in an Indeed blog post.
However, the changes aren’t just about money--for some workers, it’s also about being with a company that shares in their values.
"The pandemic caused the world to take stock in their lives and happiness, and retail workers, in what is typically labeled as having no growth, are leaving in favor of roles that offer greater personal reward and value," Kaighn told Retail Leader. "It is critical that companies invest in their teams through leadership development, opportunities to learn and grow, and to realize their long-term goals. This generation also places great value on being provided a place where they can feel a part of something that is 'doing good' for the community or even the world. It’s also critical to understand what motivates teams and that leaders find creative ways to deliver value to their everyday work experience."
Retailers are faced with not only improving their employment packages on face value, but also proving they are working to be a better company as they relate to the communities they serve.
“In some cases, it's not the employer that offers them more money but a better opportunity to align their time and talent with their values,” Bloomstein said. “More people seek out employers that share their values. In order to do that, more employers, retailers and more companies have had to make their values visible and do so in a way that doesn't look like they're just trying to check a box or jump on the latest trend. [They’ve had to do it] in a way that feels consistent and sustainable and shows their commitment in the long run.”