Articles
The Great Resignation | 6 Considerations for Employers
21st Jan 2021
“The Great Resignation” is the name given to a post-pandemic phenomenon of employees voluntarily leaving their roles in large numbers. Indeed, theHRdirector.com recently reported that a third of employees are considering leaving their roles in 2022.
This is coupled with a fiercely competitive recruitment market whereby finding talented staff is proving more challenging than ever.
All this gives leaders a big headache. Managing the operational needs of the business, delighting customers, growth – it all relies on the best people. Not to mention the drain on time, monetary cost and operational disruption caused by a high staff turnover.
So, what can be done about it?
Here are 6 considerations when it comes to attracting and retaining the best talent.
Culture
The Big Cezanne HR Company Culture Survey of 2022 has revealed that 84.5% of employees felt that company culture was important to them and 54.5% of employees would leave a company because of its culture.
Open communication is key to creating a culture that benefits both you and your employees. Allowing everyone a space to feel comfortable in sharing their thoughts and ideas with no fear of retribution will help your employees develop, grow, and help create a positive environment for your company.
In a time of remote and hybrid working, it’s important to remember that culture is not formed in a physical location; it’s nurtured within people.
Employee wellbeing
Employee wellbeing goes beyond free pizza Fridays and a ping pong table in the office, it’s the foundation of your business that ensures your employees can thrive and reach their potential.
CIPD’s 2022 Health and wellbeing at work survey identified the top three benefits of employers increasing their focus on employee wellbeing:
- A healthier and more inclusive culture
- Better work-life balance
- Better employee morale and engagement
Forbes found the most wanted wellbeing benefit identified by employees was improved mental health support.
With 1 in 6 workers experiencing problems such as anxiety, low mood, and stress at work, paying attention to workplace mental health wellbeing has never been more important.
The mental health charity, Mind, has created a guide on how to promote wellbeing and tackle the causes of work-related mental health problems.
Work life balance
The Covid-19 pandemic has undoubtedly shown that flexibility is important to employees as almost one in five (16%) of those wanting to quit say it’s because their employer forces them to come to the office or workplace when they can work remotely.
If introducing flexible working is new to you, talk to your employees to learn about the arrangements they think will suit them best.
A British Airways study found that 16% of employees felt guilty for using all their annual leave entitlement each year. Promoting the use of annual leave is essential for maintaining life balance; whether it’s reminding employees that they have unused leave to use or even letting leave roll over into the next year so they can feel comfortable taking time off won’t compromise their existing projects.
Perks and benefits
While salary is of course an important consideration for new and existing employees, benefits and perks can offer you a competitive edge.
In a recent Harris Poll report, it’s no surprise that flexible working came out as the number one benefit employees look for when applying for jobs. A health and wellness stipend, increased employer retirement contributions and mental health coverage also came out on top.
Recruitment and retention stems from authentic benefit packages created with your employee’s wellbeing in mind.
Bang the drum
Taking time out to look at your employer brand is crucial in understanding how new and prospective employees view you as a potential employer.
The right employer brand helps you attract the ideal candidates who are willing to put their energy and creativity into your brand. Moreover, powerful employer brand is not only good to attract new employees but also gives pride to existing ones and therefore supports retention.
Getting your goals and purpose across in your website, social media, PR, industry awards and employee advocacy are all steps you can take to promote your employer brand to a wider audience.
Leadership
It can be argued that all of the above points are borne from the right leadership – starting at the very top and at all leadership levels within the organisation.
Nexus Leaders helps develop leaders by helping you explore new ways of thinking and doing. We ultimately strive to help you create the space and mindset to exceed your short and long term goals beyond your wildest dreams ultimately enhancing and enriching your life to its maximum potential.
Get in touch to find out how you can take your business to a new level: https://nexusleaders.co.uk/contact/