As we cross over to the other side of the pandemic we have a new issue happening in the workplace, which has been consciously named the great resignation. The question is, why are employees so easily jumping ship, compared to prior to the pandemic? Also, what can employers do to try to maintain their best employees and attract new talent?
It’s a new era in the workforce. Employees are suffering from mental health issues, burnout, fatigue, and other ailments and are no longer sitting quietly. They are putting in notice and walking out, and sometimes they are walking out without notice leaving employers wondering what to do.
Here are some current stats from Limeaid about the current resignation crisis:
- 40% of employees cited burnout as a top reason for leaving. Employees were so dissatisfied with their situation that more than one-quarter (28%) of all respondents left their jobs without another job lined up.
- Employees were primarily attracted to their current job based on the ability to work remotely (40%) and other forms of flexibility. An additional 24% reported not being restricted to complete job responsibilities during set working hours as a top attraction.
- Job changers are generally happy they made the switch to a new role.
According to Forbes The five main reasons why employees quit include:
- Burnout: 40%
- Company going through organizational changes: 34%
- Lack of flexibility: 20%, Instances of discrimination: 20%, Contributions and ideas not being valued: 20% (three-way tie)
- Insufficient benefits: 19%
- Well-being not supported by the company: 16%
What the job switcher sought out in a new job:
- Ability to work remotely according to personal preference: 40%
- Better compensation: 37%
- Better management: 31%
- Better company reputation: 29%
- Better work-life balance: 26%
- Flexible work schedule: 24%
Direct Thoughts From Tammy Klein:
This has been the most unusual time in the workplace; one of the most unusual I have ever seen in my HR career. Retention is critical to the success of every business and it doesn’t matter what business you are in; this post-pandemic paradigm called the great resignation has challenged all business leaders and owners.
Employees are no longer waiting for the right role in their current organization; there are more open positions than there are talented resources. As an employer, you cannot feel hostage to your employees but it is important to really do some generous listening on what they want and what you need to do to keep them in their seats. Don’t think you know everything since it is not a one-size-fits-all anymore. Trying to customize each employee’s work experience in a practical way will show that you care and want to keep them happy.
Compensation is one data point, and it may cost you a few more dollars to retain your very best talent. Truly understanding what motivates each employee and how you as a leader/business owner can help your employee continue to be successful both professionally and personally will be a time-consuming effort but an investment that will reap many benefits.
Confused about how to keep your top talent during this resignation crisis? Allow Tammy at Klein HR Solutions to assist you in evaluating the local market and help you put together a solution to help retain your top talent as well as attract new quality candidates if needed.
Contact Klein HR Solutions:
Call (305) 775-5640 or e-mail: [email protected]