After 4 million people quit their jobs in April of 2021, many began raising their eyebrows. Just four months later, another 4.3 million said goodbye to their jobs too. By the end of 2021, the list of ‘quits’ hit over 38 million. Enter: ‘The Great Resignation.’ Despite many organizations’ best efforts to put a stop to this revolution, Americans are fed up with the way things are and they’re just getting started.
What started in the hospitality and retail industry has now spread across the entire workforce: no industry is safe. What’s fueling this fire? No one knows for certain, but low wages and better opportunities elsewhere have put employees in the driver’s seat with most of the bargaining power on their side. Not to mention, the ongoing global pandemic has given people time to reflect on their current situations and rethink their own “new normal.”
Simply put, The Great Resignation poses many challenges for organizations that are trying to figure out how to get their employees to stick around. As a leader in your organization, you want to protect yourself and your company from the threat that The Great Resignation poses. Here are 5 ways you can do just that.
1. Find Out What’s Really Going On
In order to understand what’s happening within your organization, you need to find out why people are leaving in the first place… and it may be more than meets the eye. There might be some underlying issues that have created a workplace environment where it’s not so easy to stay. You need to know exactly what those issues are before you can solve them. You could try sending out feedback or pulse surveys to everyone at your organization, schedule more frequent 1-on-1 meetings, or allow time for on-demand 1-on-1 meetings to be able to ask questions and learn more.
2. Make Retention a Priority
If you’re currently fighting to keep good employees, now is the time to focus on them even more than usual. Creating a company culture that employees want to be a part of is easier said than done. What are their values? What do they care about? How can you make your workplace more fun and engaging? Find out if they have everything they need at work (or remotely). If not, determine what boxes are left unchecked and determine how you can fulfill those needs. In this day in age chances are high that there are competitors who can provide exactly what they’re looking for.
3. Focus On Communication and Transparency
If employees don’t feel like they can trust their leadership team and can’t get answers when they need them, they’re likely going to try their luck elsewhere. Provide your teams with plenty of opportunities for communication, but more importantly, LISTEN and RESPOND when they do reach out with questions, comments or concerns. Every employee deserves to have a voice and feel heard.
4. Offer Competitive Wages and Benefits
Low wages are at the top of the list when it comes to reasons people have been quitting their jobs over the last year. It’s no secret that wages have been fairly stagnant for years now while the cost of living continues to go up. If people don’t feel like they are getting paid enough, or aren’t receiving the benefits that they and their families need, you can bet they will be looking to move on.
5. Be Flexible
Flexibility is key to keeping your employees happy. If they need time off or if they want to work remotely (that is, if your team has returned to the office), try your best to accommodate them as much as possible. When employees feel overworked and over-managed they’ll more than likely look for other opportunities.
Many companies are adopting a hybrid work model which provides team members with a flexible schedule of in-office and remote working days.
BONUS: Show Your Appreciation
This is the simplest way to protect yourself and your company from The Great Resignation. When you show that you appreciate and value what people do, it shows them that their work matters and they matter in turn. Not only does this help build a good relationship between leader and employee, but it also helps with morale. People want to feel valued for who they are, not just how well they can perform certain tasks or meet deadlines.
At Speakfully, we are committed to helping teams everywhere create a safe, high-quality work environment for ALL employees. We know that the best way to do this is by giving employees the opportunity to speak freely about their concerns and ideas without fear of repercussions. Our tools allow employees to speak up anytime, anyplace while staying anonymous, and provide organizational leaders with the real-time data and analytics they need to truly stay in the loop and take action before it’s too late.
