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60% of Companies Have Hired Employees During the COVID-19 Pandemic

Sixty percent (60%) of companies have hired at least one employee since the beginning of…

  • September 10, 2020

Sixty percent (60%) of companies have hired at least one employee since the beginning of the pandemic, according to new research from business news and how-to website The Manifest.

The hiring trend persists for companies, despite COVID-19’s negative effect on the job market, with the unemployment rate currently hovering around 10.2%.

Nearly half of companies (46%) have hired 10 or more employees since the pandemic’s start – a surprising phenomenon in the new era of remote work and virtual onboarding.

While group onboarding can feel impersonal, companies can use multiple communication channels to build connections, such as video calls with new hires.

Employees Likely to Stay with Current Company Due to Economic Uncertainty

More than sixty percent of HR professionals (61%) expect new hires to stay at their company for two or more years, according to The Manifest’ study.

This finding aligns with the Bureau of Labor Statistics’ 2018 report that the average time wage or salary workers stay at their position was 4.2 years.

The economic uncertainty caused by the pandemic could raise the average number of years an employee spends at a company.

In fact, only 3% of HR professionals expect more than one-third of their workforce to quit within the next year.

Increased employee retention helps improve company morale and culture.

Work-Life Balance Affects Employee Retention

More than one-third of HR professionals surveyed (37%) say that employees are likely to leave their company within the next year due to work-life imbalance.

Within the constraints of the remote age, creating a work-life balance is both more difficult and more essential than ever before. The COVID-19 pandemic has resulted in increased availability for many employees. Businesses should look to strike a balance between effectively using remote workers and ensuring their mental and physical health.

As companies continue hiring during the remote work age, they can employ creative tactics to effectively onboard new employees.

The Manifest’s survey included 500 HR professionals in the U.S. and 234 additional employees.

Find out more at themanifest.com.