The great resignation – and how it might affect your business

The great resignation – and how it might affect your business

Remember when the key Talent Acquisition metrics that businesses focused on were related to talent attraction?  How to attract the best and brightest talent to their organisation?  Post pandemic, the focus has now shifted to retention.  The effect of the pandemic has left many people re-assessing their priorities and their expectations.  The term ‘the great resignation’ originated in the US, amid employers starting the process of requesting employees to return to workplaces, even on a hybrid basis flexible working arrangements.  With relatively low unemployment and restrictions around skilled migration, workers are finding themselves in the driver’s’ seat and are prioritising their personal and mental health needs over employer preferences.  For the first time, it’s been proven that many employees are just as, if not more productive working from home.  The pandemic and society’s differing views on vaccination, political views and increased uncertainty over personal freedoms leave many people feeling anxious and uncertain returning to physical workplaces.

Holly Corbett, D, E & I Contributor to Forbes, writes: ‘Regardless of whether workers are in the office or working remotely, companies who are able to shift their culture to give employees permission to be fully themselves and have a life outside of work will be the ones best able to retain their talent’.

Amy Fontinelle writes for Investopedia that: 

  • Burnout caused many people to re-think their work-life balance
  • Employer, customer or client mistreatment during the Pandemic pushed many workers to leave at their first opportunity
  • People are switching employers if necessary to be able to have the flexibility to live where they want, and have flexible working arrangements that support this
  • Fewer people are willing to work for an employer who doesn’t support their values

So what can your organisation do to retain your employees?  Jason Wingard, writing for Forbes, recommends the following:

  • Employees (and particularly Gen Z) expect meaning and purpose in their work.  They will be attracted to employers who are able to give this to them.  This will be a key deliverable for Managers
  • Mundane, repetitive tasks need to be reduced through technology and innovation, in order to allow talent to better engage with their work
  • Flexibility should be embraced in relation to ‘when and how’ work is completed.  This means banishing the 9-5 and allowing employees the flexibility of working in different environments that support their needs.

Want support with talent retention strategies and policies for your business?  Speak to the HR Consulting team at Flexi Personnel.