Key recruitment and retention steps rooted in diversity, equity, inclusion, and belonging (DEIB) that Business and Professional Services firms must take to stay competitive.

Addressing Today’s Recruiting Challenges in Business & Professional Services

The Business and Professional Services industry has been among the hardest hit by the pandemic-fueled Great Resignation. Between January 2021 and February 2022 alone, nearly 57 million Americans voluntarily left their jobs as part of this resignation wave, with Professional Services facing the No. 1 highest rate of employment change among all major industry sectors. That’s according to data from LinkedIn, which showed the average turnover rate for Professional Services to clock in at 13.4% as of June 2022, compared to a cross-industry average of 10.6%.

Attrition like this has left the industry reeling, and as of August 2022, there remained over 600,000 unfilled positions in Business and Professional Services, amounting to hundreds of millions of dollars per day in unrealized revenue. This, when the industry needs to be growing.
To future-proof their workforces, firms need to build diverse and agile teams. In this report, we’ve identified key recruitment and retention steps rooted in diversity, equity, inclusion, and belonging (DEIB) that Business and Professional Services firms must take to stay competitive.