The pandemic has brought a great share of surprises to the corporate world. The latest addition to the list is The Great Resignation. An unprecedented number of workers are quitting their jobs post-pandemic. Monster, a global employment site, has recently reported that 95% of employees are considering leaving their jobs, mainly (33%) due to burnout. For businesses, already struggling to attract their employees back to office after a long work from home, this is not news they want to hear.
The Great Resignation
Covid-19 has brought out the true colors of organizations. Many companies laid off even the most loyal employees, others sent out notices and rehired employees for less salary. Companies have made it clear that they aren’t, as they should be, loyal to employees. Then why would employees be loyal to them?
Due to pandemic situations, many people were afraid to move out to new employers. Now, as the covid restrictions ease and opportunities continue to grow, people are taking chances and leaving their jobs for something new. This is being described as “the Great Resignation” of 2021.
The U.S. Bureau of Labor Statistics reported 3.9 million quits with around 10 million job openings in the USA in June 2021. Employers must be ready to face more inconvenience, as thousands of people prepare to say goodbye.
Why Are Employees Quitting?
There is not a single reason why employees are considering leaving their jobs. Many people want to quit simply because they enjoy the quality of life that work from home brings. They don’t want to go back to the office even after being offered numerous perks.
Others have used their time during the pandemic to develop new skills, passion, or work towards skills required for their “dream jobs.” Now they are ready to find jobs according to the new skill set. They want jobs that are more interesting to them. Some want jobs that require less time investment so that they can spend more time with their families.
A lot of people want to quit their current jobs because of the way they were treated during the pandemic. Working from home has started to feel like living at work for many. Organizations took advantage of the vulnerability that covid had imparted. Micromanagement, poor leadership, and stress have caused burnout to employees.
Further, the plethora of opportunities in the labor market has made it easier for employees to pick their choices.
Signs Your Employees Might Be Ready To Quit
Many times when employees are unhappy with their jobs, they try to communicate it with their managers or higher authorities. But companies that don’t care about their people do not take it into consideration. Employees finally decide to leave when they are pushed to do so.
When your best employees are ready to quit, there are some behavioral changes you are going to notice:
- Their productivity decreases dramatically
- They exhibit less effort into their work
- Do minimal work more often than usual
- They are less focused on job-related matters
- Less interested in engaging with their managers and teams
- Become less enthusiastic about your organization’s mission
- Overall, they exhibit a negative change in their attitude
Tips to Retain Your Top Talents Amid The Great Resignation
As employers react to the growing demands and expectations of employees, it is clear that employees now have a stronger say than ever. So, if you want your people to stick to your company amid the great resignation, you must increase your focus on employee satisfaction and well-being.
The following tips will help you build trust and loyalty among your employees:
1. Invest In Employee Mentoring Programs
In a study conducted among North American and European workers, Lighthouse Research & Advisory found that 88% of employees would stay at a job if they have development opportunities. Workplace mentoring programs provide employees with that opportunity.
Though almost all employers provide necessary training and support during the onboarding process of an employee, many stop continuing that after a certain period. In fact, the majority of organizations do not have a professional development plan in place for their old employees.
Career development programs are an opportunity to make employees feel that the company cares about their growth. It gives them a sense of belonging, they get emotionally attached and become more loyal to the company.
Also read: How Important Mentoring Is in the Workplace
2. Provide Flexibility
According to a survey conducted by the professional service network EY, 90% of employees want flexibility in where and when they work. In fact, employees expect it. Now flexibility is not just a perk that employers offer, it’s a critical part of an organization’s talent acquisition and talent retention strategy.
Flexibility in the workplace includes:
- Full-time work from home or location independence
- Part-time work from home
- Compressed shifts or work week
- Choice and control in work shifts
- Opportunities for sabbatical leave or career break
- Caregiving leave
Workplace flexibility helps employees maintain a good work-life balance, increases their productivity, and most importantly, improves their satisfaction level. When employees are satisfied with their jobs, they are less likely to leave.
If you want to keep your best talent during the great resignation, you must provide flexibility in work.
3. Make Employees’ Mental Health A Priority
Covid not only affected people’s physical health, it has taken a toll on their mental health. Employers from all over the globe have acknowledged that employees are suffering from loneliness, depression, and anxiety. While isolation is a reason for poor mental health, workplace stress is also highly responsible for it. Some are feeling disengaged because of very little work, others are stressed because of excessive workload. As a result, they are willing to quit their jobs for a better opportunity.
One of the best ways to retain employees is taking care of their mental health. Although organizations are putting in place several wellbeing programs to improve employees’ mental health, many of them are one-size-fits-all approaches. This doesn’t work.
The best ways to promote employee wellness are:
- Survey: Reach out to individual employees through surveys to understand what causes stress for each one of them.
- Offer help: Once you know the reason for your employees’ stress, connect individuals with professionals who will be able to help them manage their stress.
- Help employees reduce stress: Just helping your employees manage their stress level is not enough. Communicate with them to understand their needs. Help them reduce stress by offering flexible work and a good work-life balance.
- Make time for fun: Having fun with coworkers reduces stress levels, increases productivity, and employee engagement, creating a positive work environment.
Though the way companies treated their employees over the last year and a half would decide the future, investing in employees’ growth and wellbeing can make a difference. Don’t just watch your employees go because they have got better opportunities. Rather, create a work environment that not only can retain top talents during the Great Resignation but also can attract talents.
Want to create a mentoring plan for your organization? Talk to our mentoring experts.