Do you remember the Great Resignation? This was the Covid-era period when people voluntarily left their jobs en masse, often in response to new employee priorities related to career aspirations, life goals, or the desire for work flexibility. Now, a few short years later, the workforce has made an 180-degree turn with the latest trend (and newest buzzword): job hugging.
Job hugging is the phrase coined to describe how many professionals are choosing to stay put in their jobs, not because they’re thriving but because they’re afraid. In today’s climate of uncertainty, fear has become a powerful anchor in the labor market. This leaves many credit unions wondering how to hire effectively during a time when people are wary of leaving their jobs. It starts with understanding what makes people stay in their current roles and what compels them to make a change.
Understand the fear factor
Before you can attract talent to your credit union, you need to discern what is keeping them where they are.
- Economic anxiety: Rising costs of living, volatile markets, and the news of mass layoffs have made job security a top priority. Even unhappy employees may hesitate to move if they fear being “last in, first out.”
- Political and social tensions: In polarized environments, people cling to familiar cultures and communities. A new workplace might feel like a risk to their values.
- Global instability: From wars to natural disasters, uncertainty is everywhere. For many, stability at work feels like the only thing they can control.
Your hiring strategy must acknowledge these fears, not dismiss them. Additionally, it should not only generate interest in your credit union but also encourage potential candidates to step outside of their comfort zone and take the risk of joining your organization. Some ideas to consider are:
Position your credit union as a safe bet
In a fear-driven market, candidates aren’t just considering your job opening; they’re evaluating your organization’s resilience.
- Highlight stability. Share information about your credit union’s financial health, long-term vision, and track record of weathering downturns.
- Showcase leadership. People want to know who’s steering the ship. Transparent, values-driven leadership builds trust.
- Offer security. Benefits like severance plans, mental health support, and flexible work arrangements signal that you care about long-term well-being.
Shift the conversation from risk to reward
Fear makes people risk-averse, so reframe the move to your credit union from a gamble to a smart, strategic step.
- Focus on career growth. Emphasize how your business invests in employee development and advancement. The more future-proof the role feels, the safer it becomes.
- Talk about values. People want to do meaningful work that aligns with their principles. Working for an organization whose values match their own can be a big incentive to make a change.
- Be transparent. Don’t oversell. Acknowledge challenges and explain how your credit union is navigating them. Honesty builds credibility.
Rethink how you source candidates
In a market where people aren’t actively looking, you need to meet them where they are, both mentally and emotionally.
- Tap into passive talent. Build relationships with people who aren’t job hunting but might be open to a conversation. Use LinkedIn, alumni networks, and industry communities.
- Use referrals wisely. Employees are more likely to refer people they trust, and those referrals come with built-in credibility.
- Be patient. Fear slows decision-making. Give candidates time to process, ask questions, and feel confident.
Make offers that feel safe and smart
When fear is high, even great offers can feel risky. Your job is to make the leap feel like a step forward, not a step into the unknown.
- Personalize everything. Tailor the offer to their concerns, whether it’s consistent hours, advancement potential, or guaranteed bonuses.
- Provide clarity. Outline the onboarding process, team dynamics, and growth path. The more they can visualize success, the less scary it feels.
- Offer a safety net. Consider trial periods or flexible start dates. These reduce perceived risk.
Hire for adaptability, not just experience
In uncertain times, don’t just focus on experience; also consider candidate adaptability.
- Look for resilience. Candidates who’ve navigated change, led through a crisis, or reinvented themselves bring valuable skills.
- Invest in learning. Offer robust training, mentorship, and learning paths. People are more willing to move if they know they’ll be supported.
- Consider internal mobility. Promoting from within can be less risky for both sides and sends a strong message to employees about your commitment to their growth.
Build a brand that reassures
While many businesses want to be seen as visionary and innovative, don’t overlook the need for trust, stability, and care when crafting your credit union’s brand.
- Share real stories. Highlight employees who’ve grown, stayed, and thrived, even during tough times.
- Be visible in your values. Candidates want to know what you stand for, especially when the world feels divided.
- Create content that comforts. Thoughtful blogs, videos, and social posts that show empathy and transparency go a long way in establishing an appealing brand.
Hiring well when fear or uncertainty keeps people from leaving their jobs involves creating opportunities that feel safe, meaningful, and future-ready. By approaching hiring with intention and empathy, organizations can build teams that are not only capable but deeply aligned. And inspired, engaged employees will remain with your credit union, not out of fear, but because they can excel and flourish.
