Employee retention | The future of resource management and the Great Resignation

By Stephen Beck, FinancialForce Vice President of Global Professional Services

It’s being called “The Great Resignation” — the post-pandemic trend of individuals reassessing their careers (indeed, their lives) and leaving their jobs, in many cases with nowhere specifically to go. For employers worldwide, this trend is shining a massive spotlight on the need for employee retention. 

Of course, retaining employees has always been a hot topic for services firms. But to solve for it amid The Great Resignation, enterprises need to take a fresh look at how they manage their resources…and how to keep them.

Balance process with people and improve resource utilization

Let’s start here: Resources are people. Sometimes that can get lost on companies that focus too intently on process optimization. Sure, improving utilization is an important, profit-enhancing goal. But when process purity comes at the expense of workforce satisfaction, engagement, and development — especially at a time when the talent pool has the power to walk with their feet — then your initiative has created undue collateral damage in the form of expensive disruption and replacement costs.