Adding Talent Amid the “Great Resignation”

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Over the past year, workers have been quitting their jobs at historic rates. While you have probably noticed “now hiring” signs in retail stores and restaurants and the effect that worker shortages are having on the supply chain, service-business owners are suffering on a different level. It’s becoming more and more challenging to find employees to fill essential roles.

Financial advisory firms are hitting roadblocks with succession planning and filling internal staff positions.

Experts have pointed to a number of different factors contributing to the unexpected exodus: childcare issues, burnout, a desire to find more meaningful work or to work from home, to name a few. Many employers recognize that worker expectations are shifting, most likely permanently. Those who work in skilled, creative, technical, and other professional capacities are looking for more autonomy, flexibility, and freedom.

One way to address the staffing challenges brought on by the “great resignation” is to outsource some functions of your business to contractors or professional services firms. Working with freelancers and outside agencies allows your business to get the support it needs from specialists who focus on what they do best, much in the same way that you use your expertise in financial planning to take over that role for your clients. Not only does this solve your immediate labor needs, but it also comes with other benefits.