The rise of the pandemic over the last few years has allowed everyone to reconsider their priorities and re-evaluate certain aspects of lifestyle. This includes their occupation and employer.
This is why 2021 saw an alarming increase in resignation rates all over the world.
Even before COVID-19 hit, remote work was a rising trend and now, flexibility at work is almost a non-negotiable among employees.
As we begin 2022, this looming threat of the Great Resignation is still upon us. So, how can we protect our organisations from people leaving?
How can you keep up with your employees?
First things first, what is this ‘Great Resignation’?
Last year, nearly 35 million workers quit their jobs in the United States. The phenomenon was dubbed as the ‘Great Resignation’.
Adobe’s 2021 survey among 5,500 workers from countries including Australia found now that 56% of Gen Z workers consider changing jobs this year. A similar survey by Microsoft revealed that 41% of the global workforce consider leaving their current employers.
The Great Resignation has taken the global stage and understanding how this can affect your employees is more crucial than ever.
What caused this phenomenon?
The simplest explanation for the Great Resignation would be the mismatch in supply and demand. When the number of unemployed Americans dwarfed the number of job openings in the past year, workers discovered an opportunity to demand better pay and better conditions.
Employees have realised that they have more bargaining power now. And it’s not just about the pay – there's a demand for better working conditions and culture, along with the opportunity to work remotely, flexible work hours and extensive health benefits, among others.
How does it affect your organisation?
Losing staff has several negative impacts on the workplace. For one, it poses the need for a costly and tedious hiring process, not to mention the effects of losing a co-worker – and often, a friend – for your other employees. It then leads to decreased productivity, low morale and rising stress levels, as the remaining staff struggle to cover the work left behind.
It is important to manage the situation and address employee needs proactively before it’s too late. After all, making sure that your team is fulfilled is one of the driving forces of business success.
How can you keep up with the evolving needs of your staff?
Maintaining employee satisfaction has always been a challenge.
However, knowing how they’re feeling and how fulfilled they are can help you make more informed decisions. When you know about your internal culture and employee sentiment, you can take action to ensure their satisfaction levels.
Here’s a list of steps that you can take to protect your organisation from the Great Resignation:
- Promote flexibility.
When the pandemic began, remote work options became more in demand and employees realised its benefits, such as saving costs and time from commuting.
Offering remote and hybrid work options will make your employees feel that you value them, and this will encourage them to stay with you.
- Maintain a healthy culture.
Most people stay for the culture and the healthy workplace environment an employer provides. When you maintain a culture of respect and allow your employees to feel involved and valued, you minimise the chance of resignation.
- Invest in their growth.
There are employees who dread work stagnation. Constant opportunities for growth such as training and promotions allow your staff to realise that they are growing as the business grows. The fulfilment they can get from ongoing learning is a good motivation to stay.
- Give recognition and rewards.
Appreciating your team members for their efforts and giving rewards in different forms promotes a sense of gratitude. Most employees resign when they feel like they are giving more than what benefits the business provides for them.
- Listen to your staff.
No one knows what your staff needs more than themselves, and knowing you’re there to lend a helping hand can encourage them to communicate these needs.
Fortunately, there are tools that continuously listen to employees, gathering relevant and current information for managers to perform with confidence – and VibeCatch is one of those.
Keep up with your employee’s needs with valuable insights
At VibeCatch, we’ve built a powerful platform that enables you to collect valuable insights through active, scientific-based listening and learning of your internal workforce.
With our surveys, you can easily gather the insights you need to make sure that your employees’ welfare, needs and concerns are well taken care of, so you can reduce staff burnout and turnover rates.
VibeCatch is an HR platform that has been built on the back of 15 years of proven research. We offer you the opportunity to make a difference and show your employees that you value them.
Through our QWL Polls, Pulse Polls and 360 Feedback Polls, we can help you uncover hidden opportunities, address any issues and identify areas for improvement with both employees and management.
For more information or to see a live demo of VibeCatch, speak to our team today.