The Great Resignation, the Big Quit, or just a “general strike” sounds alarming, doesn’t it? Well, these are the terms that are circulating now as more people reap the benefits of the post-lockdown workplace landscape.
Over the last two years we’ve learned a lot about ourselves and how we should and can approach our work. Gone are the days where we would begrudgingly make the daily commute to work, spending long hours in an office that fails to support our creativity or wellbeing and well, make us somewhat miserable.
Stagnant wages, inflation and the resistance to change had made the 9-5 day look rather bleak, but the pandemic has revealed the importance of workplace wellbeing and how we might go about achieving it - leaving CEOs and management scrabbling to hold retention rates.
The Great Resignation of 2021 is, according to economists, the current trend which is seeing many employees voluntarily quitting their jobs to seek employment that offered a better work-life balance after most workplaces had to allow their employees to work from home during the pandemic. The Great Resignation came after many of us were less than thrilled at the prospect of returning to the office, and even though a lot of the stats for this trend come from the U.S.A, one in five British workers said they would want to continue to work from home after the pandemic.
It isn’t just about the flexible working opportunities though. This mass resignation is a message to bad bosses and careless companies who aren’t taking the wellbeing of their staff seriously and refuse to pay them a decent wage. This resignation is about employees looking for the appreciation and recognition they deserve in their workplace, and that happens to be exactly what we’re about too.
This year the Work Institute shared these top five reasons employees leave their job:
1. Career development
2. Work-life balance
3. Manager behaviour
4. Compensation and benefits
A recent report from Nuffield Health found that an organisation that invests time into employee wellbeing programs are 4 times less likely to lose talent annually and The Black Report found that there was an 82% reduction of sickness and a 33% reduced staff turnover after they reviewed 55 Wellness Programmes.
The statistics speak for themselves! Whether you’ve already lost talent in your company or you’re looking to stay ahead of the game, it’s time to make the changes your business needs before your employees go elsewhere.
Here’s five ways to overcome the Great Resignation
1. Prioritise wellbeing
There’s been a lot of focus on wellbeing and mental health over the last two years as we all try to combat the stress and fear from the pandemic, so it’s no surprise that it was found in a recent study that work-related stress has risen by 20% since 2018.
There’s still a very high risk your employees are still juggling their own issues outside of work while trying to overcome burnout, so it’s incredibly important your company provides the correct programs and support for your team.
Good wellbeing programs cover these main groups:
These are the biological and physical needs of your employees, which includes physical fitness. This could be encouraging your employees to walk or cycle to work, providing a healthy breakfast on a team day, or offering perks such as gym memberships or in-house yoga sessions.
These relate to the feeling of belongingness and love of your employees. Obviously, it’s important to share your own appreciation towards your staff, but the relationships they have with each other is also vital for the overall success of the team.
This includes the support they give one another, their communication, their ability to acknowledge each person’s contribution to a project and their trust and faith in the team as a whole.
These include feelings of security, esteem, cognitive needs, aesthetics, self-actualisation, and transcendence. Many of these can be achieved through employee appreciation and recognition of their efforts. According to a study from Capita, 34% of employees believe being appreciated, thanked, or recognised for their work is the most valuable workplace benefit after a pay rise. They also gave these top reasons for why employee appreciation matters:
· It can encourage members of staff to see positive attributes in each other, which demonstrates they value one another’s work and recognise everyone’s efforts.
· It has been proven to reduce stress and absenteeism from increased engagement which can lead to fewer stress-related sick days.
· Regular praise can generate a more productive work environment
· Feeling appreciated encourages more loyalty in the workplace
Check out this blog post on what the experts are saying about employee appreciation for more guidance and advice!
2. Maintain autonomy
There have been studies which have shown that work environments that are more autonomous have not only higher job satisfaction, and most likely better retention rates, but also better productivity.
Autonomy at work means giving employees the freedom to work in a way that suits them, and this could be anything from the timeframe for their deadlines, the order they complete work and gaining control over task specifications to getting to decide when and where they do their work. Over the last two years many employees will have been able to prove that they don’t need to be in the office to be productive, but instead can work from their home and cut down on commuting costs as well as carbon emissions if they drive or take the bus.
It was even found in a survey that 39% of people would consider quitting their jobs if their employer wasn’t flexible about remote work, and the figure is even higher for millennials and Gen Z at 49%.
3. Offer career development and training
There’s a lot that’s gone on over the last two years that could make a person re-evaluate what they want to do in life, and even though you might not be able to offer every employee the new career path they’re looking for, you can still offer new and exciting opportunities and training.
If employees don’t know how to find new roles at the organisation or don’t feel comfortable seeking advice from their management, it’s likely they’ll leave. Investing in your staff’s professional development is vital for team retention because it establishes a sense of value within the company and fosters loyalty and appetite for skill development.
Including training in your recognition program and making it a regular occurrence gives employees a sense of empowerment and allows management to inspire and ignite people’s imaginations. Companies that engage in employee growth and possible learning opportunities will greatly impact future employee performance and dedication.
5. Consider employee perks or benefits
Surprising employees with a tangible element, like a gift, will provide a memorable moment of recognition that will help them feel valued within the workplace.
Gifting is a great way to show your employees that you value them and can help improve overall company culture. While the kind gesture provides the employee with the warm and bubbly feeling of recognition, expressing gratitude with a gift could elevate their self-esteem.
Christmas is fast approaching and gift giving ahead of the holiday is the best way to thank your employees for all their hard work over the last year.
HappyCo. make it quick and easy for you to share the fun this Christmas, boosting morale and leaving spirits high. All you have to do is select your favourite box from our ready-made festive gift box selection or create your own box on our brand new marketplace and add any personalised message alongside it if you want!
We’ll take care of everything else, from picking, packing and shipping. Just to top it all off, we can deliver your Christmas box anywhere in the world!
4. Listen to their needs
Ultimately, your employees are your biggest asset.
You need to be proactive in your approach and be constantly on the lookout for more ways to improve their work experience. Afterall, there are several reasons why employees might want to leave their jobs and unfortunately you can’t control them all. The best thing you can do is take advantage of the things you can control.
Get regular feedback from your team! Asking your employees what employee recognition looks like to them is a great way to break down any barriers and give the recognition in the most personal way possible.
And lastly, if you do have employees decide to move on make sure to ask them what you could have done better to support them.