Last week we posted an article about the great resignation and exit interviews.
This week, we are focusing on yet another important topic as far as resignation is concerned; employees who are showing up every day to fill the gaps that have been left, pulling the weight, and ensuring that things are flowing smoothly.
In an effort of wanting to know whether the mass exodus has an effect on those who are in their jobs, we spoke to some employees in different professions and a significant number mentioned that they were feeling pressured to resign because it seemed like a ‘thing’. The more some held on to their jobs and heard about the millions quitting every month, the more they felt like they were missing out something important. Others confessed that if the numbers and broadcast increased, they were afraid that the impulse of quitting would take over and they would go through with it despite not having a concrete plan on how to proceed in their careers.
Fluctuations in supply of human capital are expensive. They put companies at risk of losing clients, make it hard to plan or execute, and not forgetting the stress. Nonetheless, HR professionals and managers are still the people that everyone looks up to ensure ample supply of human capital, no matter the circumstances.
To prevent severe interruptions from the resignation, we have listed some effective employee retention tips that HRs and managers can implement in the midst of the great resignation to contain the situation.
1. Be mindful of the pile
The most obvious thing when employees quit is to redistribute their work to those who have been left behind or hire temporary members to ensure smooth flow of operations. Some managers however make a mistake of assuming that if the work is being handled by the remaining members, all is well and there is no need of rehiring.
Some increase the compensation slightly and discard the idea of rehiring completely. While there is nothing technically wrong with more responsibilities and higher pay, remember that we are in an age where wellbeing is a necessity in any job package.
Nowadays, skilled employees look at more than the figure on the paycheck. They are quite interested in knowing what they will be trading; sanity and health for a higher pay or earning a decent amount and retain good health.
Therefore, if you have been struck by a situation of mass resignations, rehiring using the right recruitment agency will help you to reduce the pile from the remaining employees and give them a more solid reason of staying in the company.
2. Rely on data
Why are people quitting certain jobs in millions?
Why are they looking for jobs with certain features?
Which features are common in jobs across industries?
What do they really want from their jobs?
Researchers have come up with number of reasons why employees are quitting in great numbers. For instance, some workers in the healthcare sector were quitting due to long working hours and not being sufficiently supported protective elements while going on their daily activities. Tech gurus were considering the compensation, flexibility, and unlimited earning possibility especially with the ongoing success of remote work and giving up on jobs that do not offer such perks.
Rather than implementing strategies with hope that one of them will boost employee retention, stay interviews and salary surveys can be of great benefit. Stay interviews gives a glimpse of the pleasant factors that are making employees to stick to the company. They tell you about the strengths of different people, departments, and the company at large and what you should offer more.
Well organized and analyzed data tells in clear terms what motivates employees, their desires, and the position of the company as far as the needs are concerned. Some researchers also came up with a detailed list of pre-quitting behaviours such as absenteeism, low productivity, negative attitude, and others.
With such data, you can adjust accordingly.
3. Champion for explicit work-life boundaries
Ever since remote work became popular, a significant number of people have been complaining that it is hard to balance work and personal life when they are being bombarded with work emails late in the night or early in the morning and required to respond. Sometimes this is worsened by the ever-present family demands.
By drawing the line between personal and professional lives, you show genuine care for your employees, an element that has become essential in careers. You also allow them to unwind and approach their jobs in fresh states of mind. Employees are largely drawn to organizations that value their human nature. Many feel that they should reciprocate by putting their best efforts in the work.
4. Collaborate with other leaders
It is often said that employees do not leave their jobs, they leave bad managers.
In some circumstances, there is a disconnection between managers and HR professionals. Some beliefs that it is the HR’s duty to find the best talents, ensure everything is well amongst the employees, come up with retention strategies, and ensure they are fruitful.
But their efforts alone cannot increase employee retention rates as there are many factors that contribute to turnover. Nurturing a relationship with managers drives retention rates even higher as it pushes both parties to assume an employee-centric approach and plan from that point.
The great resignation is gaining momentum and the implementation of employee retention strategies is now important more than ever for companies that want to avoid risks.