How to tackle the challenges of great resignation in your company in 2022?

Aug 19

If you thought last year's Great Resignation was difficult, wait till you go through this year. More people want to leave their employment this year than in 2021, according to the Qualtrics Employee Experience Trends Report for 2022. Greener pastures are most likely to be found by middle management. Only 69 percent want to stay put this year, compared to 83 percent last year. Women in middle management positions are especially keen to advance. They have a threefold increase in the likelihood of finding new employment.

Employers can benefit greatly from talent challenges. According to the trends, 2022 is a pivotal year for firms to follow up on their commitments to employees or risk losing them.

What Is Causing So Many People To Quit Their Jobs?

There are several contributing variables to why people are resigning, as there are with every substantial shift in the workforce. Here are a few plausible explanations for why an unprecedented number of employees are quitting their jobs:

The pandemic has been blamed for altering society's fundamental ideals.

Work-life balance is a goal for many professionals.
Employers are failing to provide enough perks and health insurance.
Employees have little to no wiggle room when it comes to salary negotiations.
People are adopting "career downsizing" to obtain greater life pleasure.
As you can see, these are just a few of the factors that led to the Great Resignation. Based on an employee's situation, there could be more specific explanations.
People may be quitting their employment because they are overworked or stressed.
Overworked personnel is a big contributing issue that we haven't mentioned yet. Burnout is a sort of work-related stress that has no medical diagnosis yet necessitates time away from work for certain people.

So, what should be the obvious response?

Employers must understand that it takes substantially longer to attract someone than it does to issue a two-week notice and leave. The solution, then, is to improve retention while also increasing recruitment. To do so, firms must redefine what it means to be a member of their organization and get on the same page as their employees. Both white-collar and blue-collar workers across a wide range of industries are divided into four categories: value, purpose, certainty, and belonging.
All four are relevant to both retaining current staff and attracting recruits. However, given the high expenses of recruitment and training, as well as the time it takes for new workers to attain the same level of skill as those they replace, employers must prioritize retention right away.

Strategies that can help organizations overcome the threat of Great Resignation

Make mental health and well-being a priority:

Mental health has suffered as a result of prolonged isolation. Employees want to feel recognized by the individuals on their screens, even if they work in a virtual environment. Leaders that understand the importance of connection for personal well-being and productivity have an easier time keeping their employees. Employees will remain loyal to companies where they feel a sense of belonging. This year, cultivating a culture of connectedness is extremely important.

Enhance your mission:

The ageless cause for your organization's existence is its purpose. It's why people choose to join and stay. Our findings demonstrate that in stormy times, a firm confidence in the goals of an organization is much more vital than in calmer times. Demonstrate to your employees that your company is more than just a profit center. And don't just talk about it; put it into practice by sharing what you do and how you do it.

Allow yourself to be flexible.

Flexible work settings in terms of location, time, job description, and career routes will be the norm in future work. Accept it. Better yet, assign employees to work in groups to construct their future workplace. People will desire to dwell in their dream home if they assist in its construction.

And, while we're on the subject of flexibility, loosen up on "qualifications." Consider hiring people that don't fully suit your profile; if they meet 75 percent of your requirements, hire them. More than half of IBM's employment postings in the United States do not require a four-year college diploma. People who fall short on paper can learn what's missing with the correct mentality and help.

Give people chances to develop.

Assume your most valuable employees have just turned in their resignation notices. How would you persuade them to change their minds? "If you could shape your dream job here, what would it be?" ask them. Then figure out how to make it happen. For the past few months, forward-thinking companies have begun conducting retention interviews, asking each employee what it would take for them to stay.

How enthusiastically employees respond to the question, "Does my job make good use of my skills?" is a key predictor of whether or not they are engaged.

To summarize, demonstrate to current employees that you respect them even more than potentially new ones by giving them fresh opportunities to improve and flourish. Workers have been waiting for this vote of confidence for a long time.
Providing upskilling opportunities to employees and creating an environment of growth can significantly influence their loyalty to the organization.

If you are concerned about the impact of a great resignation on your company, keeping the above points in mind and crafting a retain now to gain a later approach towards employee resignation can significantly improve employee morale and loyalty.