By now you’ll have heard talk about the Great Resignation and how it might affect the workplace. The scale of the loss might be more than you expect, with data from Slack showing 59.9 per cent of Australian workers are considering a new role within the next twelve months.
What’s driving the resignations?
It’s easy to blame the pandemic for the shift but I believe that was simply highlighted issues that had been burning for a while. We began to question our priorities and wonder if we are getting what we want out of life.
Employee wellbeing platform Limeade found the main reasons for resignation are burnout (40%), lack of flexibility and not feeling valued as top resignation drivers.
28% of respondents said they were leaving their workplace without another job lined up.
What are people looking for?
It’s not always a drive for better pay. The survey showed only 29% of people left for more money. Some took pay cuts as they searched for:
- Job flexibility, including the ability to work remotely (40%),
- Better benefits (19%)
- Improved well-being, feeling cared for by the company (16%)
The opportunities are there.
The job market is expanding and, according to a report on Sunrise, employers are now searching for people with specific traits rather than concentrating solely on skill levels. With these new hiring criteria, more doors are opening, and opportunities are beckoning for everyone, experienced or not.
What can your organisation do to stop talent loss?
The research is giving some clear answers to the question.
Offer job flexibility:
“LinkedIn research shows 13% of employees who were asked to return to the office after working from home during the pandemic considered quitting their job, while 7% chose to resign instead of returning to the office.”
Companies have survived with most of the workforce now virtual. Imagine what they could do if they planned a future around it? This is a key factor in preventing talent loss. But it’s not just location that matters, Flexibility means allowing people to work at times that suit them. As long as the right outcome is achieved, the process is not important.
Provide office space as needed:
Future Forum suggests repurposing your current office space for use when teams need to gather or for solo work when people need to get out of home for a while. It’s all about giving them the space they need to get their work done.
Focus on employee wellbeing:
Invest in mental health programs. Offer extra time off when it’s needed. Acknowledge and reward good work. Spend informal time together (link to last post) Consider developing a childcare strategy to ease the load on women and families.
Ask your people what they want or need and then deliver on it.
Show that you care by surveying or talking informally with your people to ask what they need from you. The simple act of asking – and listening! – clearly shows you care about your people and that they are valued. But don’t just listen. Do what you can to help. Find them a solution.
Give your people are career path.
Give them a future. Help them plan a career and support them with skill development, and the provision of job opportunities. Athena Leadership Academy’s Career Clarity Online Program is perfect no matter what stage of their career your people are at. It’s online so it’s accessible everywhere and it’s ready to go when your people are. Be willing to support people if they choose to swap jobs within your company. It’s hard to replace lost talent and there is a multitude of reasons to develop it further.
The Great Resignation is here, and people are thinking differently about how they work and how they expect to be treated. Improving their job satisfaction will stem the losses and prevent a talent drain.
We know why people are leaving. It’s up to you to take the big picture approach to the solution.
Need help? Let me show you how I can support your leaders during this time and help boost overall job satisfaction within your workplace. Give me a call.