Trakstar Launches Trakstar Intel, Discussing Q1 Hiring & Retention Efforts Across The Workforce

Trakstar has launched its Q1 report, Trakstar Intel, powered by Insights, explaining what’s happening across the landscape in terms of hiring and retention efforts.

The biggest technology companies in the world have been built on data for decades. Now, businesses in virtually every sector are seeing that data can be one of their greatest assets, unlocking a deeper understanding of its customers and workforce and applying that knowledge to anticipate what’s next. But without actionable takeaways from data, it’s useless information. With Insights, HR leaders can ensure decisions impacting the single most important component of a business—its people—are done intelligently and intentionally.

Trakstar, industry-leading talent development software including Trakstar Hire, Learn, Perform, and Insights, released its Q1 Trakstar Intel Report, where they delved into the data analytics behind some of the workforce trends employers are facing today. 

Despite the desire to return to work by some and the desire to stay remote from others, all organizations are in a state of flux. A human resource department’s role in the success and development of an organization has become increasingly important than ever with budget cuts, layoffs, and a shift in how people feel about their jobs.

Job Openings Up YoY

In total, the number of job openings has increased YoY, with more openings per month, on average. This goes against the trends we’re hearing about on social media. 

In 2020 and 2021, the trend of jobs moving to hybrid or even fully remote work has been one of the biggest stories business leaders and employees have been watching. In spite of this volatility, the number of remote positions has been shrinking even while the number of openings has continued to increase in 2022.

View the Trakstar Intel Report to see the numbers.

Hybrid and Remote Work Continues To Be Appealing To Job Seekers  

The number of remote openings declined in 2022, but candidate interest in hybrid and remote opportunities grew consistently. As of 2023, it has outpaced onsite openings steadily, leaving a gap between what candidates are seeking and what employers are offering. Despite the fact that candidates want what stakeholders believe to be best, this is not a trend to ignore.

Employers Must Focus on “The Great Retention”

The increase in job openings has clearly affected the other end of the employee lifecycle and a company’s ability to retain its valuable workforce. In 2022, retention rates dropped noticeably due to The Great Resignation. As some open positions continue to be difficult to fill, especially those that require in-person attendance, as noted above, this 5% drop in retention forced many organizations to put more emphasis on employee satisfaction.

View the Trakstar Intel Report to see the numbers.

About Trakstar 

Trakstar believes people are happier and healthier when they know their work matters. Trusted by over 3,000 customers like Dyson, Ben & Jerry’s, and Make A Wish, the Trakstar platform provides a powerful suite of solutions that equip HR teams with next-generation talent acquisition, training, and performance management technology. Trakstar has spent 20 years architecting data-backed tools to provide custom insights for every stage of the employee lifecycle.