The Great Resignation is here, and it’s something that none of us should take lightly. Recent research from Microsoft has uncovered that since the pandemic, 41% of employees are considering quitting their jobs or changing careers altogether.
Employees are leaving in droves, and it’s becoming a serious problem for employers.
There is an offset to this called The Great Boomerang, which is seeing some employees returning to their companies after leaving, but this doesn’t seem nearly enough to repair the damage being caused.
It’s an issue that we’re starting to see the effects of in all facets of our daily lives. We only have to open a newspaper or watch the news to read of HGV shortages, longer wait times for goods and services, and staff shortages in hospitality. Increasingly, The Great Resignation is revealing weaknesses in organisations and these problems are becoming commonplace as employers grapple with the one-two punch of resignations and a shortage of candidates applying for positions.
If this sounds familiar to you, the good news is that it’s not too late to take back control.
What Caused The Great Resignation?
The answer to this isn’t simple. 2020 was a difficult year for our employees, and for many, was a time of great reflection and a reevaluation of their priorities. Adapting to new ways of working, losing their sense of company culture from being away from their colleagues, and the huge stresses involved in trying to sustain an unmanageable work-life balance all may have played their part.
We’re seeing a rise in employee burnout, and this needs to be addressed. Employees are beginning to consider what’s important to them and are leaving in pursuit of a better work-life balance, as, according to one study, 25% cited the need to better balance home and family life as their reason for leaving.
We looked into the research and found that while employees were looking for support from their employers during these challenging times, only 50% of managers have been trained to adequately support their staff.
It’s clear that a change is needed. Businesses need to act quickly before things get even worse.
What’s the Answer?
Whether they’re coming back to the workplace, new starters or your existing workforce, these days almost everyone’s priorities have shifted. Your people want change and it’s up to you as their employer to pay attention to their needs and, where possible, make those changes.
We believe that employees are at their happiest when we take the time to listen to them, to understand what they want, and to address their concerns as they arise. This means that you need to put communication between management and employees at the heart of your company’s culture and have that communication lead to effective, positive change. An organisation that puts its people first is one that will thrive.
We’re Here to Help
If you missed it, catch up with the webinar, The Great Resignation: 3 Reasons Your Employees Are Quitting (Plus What to Do About It!), to find out more about what The Great Resignation could mean for your business, how to avoid the pitfalls, and retain your best people.
To find out how to better connect with your people and overcome the challenges to your organisation, book a Bridge demo.