The way we work has changed dramatically over the past 2-3 years. People are quitting their jobs in record breaking numbers. Earlier this year, we saw that 48% of employees were actively looking for a job or willing to consider a new job, and “Quietly Quitting” is trending on social media.
So, what’s different about the ‘Great Resignation’ as it has been so publicly coined? We’ve identified the key trends that your business needs to be aware of to keep employee turnover as low as possible.
1. Remote working is here to stay
A survey of corporate leaders shows that 79% of companies will let their employees split their time between offices and remote work, if their job allows for it. Employees are driving this change and demanding more flexibility from their employers, as 1/3 who work remotely said they would be extremely likely to seek another job if their company eliminates remote working. This suggests that flexibility of working now outweighs monetary compensation for at least 30% of employees.
With this trend comes the sentiment of ‘out of sight, out of mind’. Even though employees are demanding flexible working, employees are reporting a sense of their managers caring less about them. This presents an opportunity for employers to communicate and highlight how they can provide support and set their employees up for success, regardless of location.
What ways does your brand create synergy, culture and encourage great communication within your teams, while working remotely? We have the services to not only help uncover internal insights, but to also measure how successful you’re being at implementation. More on this later…
2. The importance of improving Diversity, Equity and inclusion within your organization
Gen Z, care deeply about fairness. For them, diversity, equity, and inclusion
are fairness issues, and they want to see them reflected in their workplaces. To appeal to both Gen Z & Millennial talent, you must lean into the diversity of your organization in an extremely authentic way, because these generations can tell when businesses are ‘checking boxes’ vs communicating deep rooted company values. We’ve seen a huge trends towards brands dedicating a page on their website, tailored towards highlight their efforts towards this subject. Adobe & Samsung are two great examples of brands that are setting the bar in an extremely genuine way.
This is not a fad. You can guarantee your current employees and the new talent you interview will be asking you what you’re doing to make everyone feel respected and included. It’s not a matter of ‘if’, it’s a matter of ‘when’.
3. Understanding if your employees currently feel engaged:
While there could be a huge focus on acquiring quality talent into your business at this time, it shouldn’t be just be about ‘in with the new’. After all, employee retention is more cost effective in the long run! If your employees feel valued, and have an emotional connection to their work, the chances are they will stay and contribute to your organization’s mission.
But how do you know if your employees are happy and motivated? We can help with conducting employee engagement survey’s that are geared around understanding…
- How well do they really know what your company stands for and the values that guide the company?
- Does your team know and understand your brand purpose, and do they know how their role feeds into that brand purpose and bigger picture?
- Is there a disconnect, or a nuance in engagement between managers & executive teams?
- How would your team describe the internal culture of the company?
- What are pain points that the team have with the company?
- Do you know what your competitors are doing to keep their teams engaged?
…these are just some of the questions you should be considering, to give you an insight into whether your current team are feeling engaged when they log in on a morning. But it shouldn’t end there. There’s a way you can strengthen your talent acquisition objectives and employee retention…
4. Implementing the Net Promoter Score & Survey
The NPS methodology is a key, research tool that can be used to measure employee satisfaction amongst your teams. This anonymous survey gauges company promoters and detractors by asking basic questions such as ‘how likely are you to recommend working for us to a friend or family member?’, to give you outputs that are raw and real, along with a 0-10 score.
This helps you understand how employees actually perceive the company they work for, vs how you thought they perceive the company they work for. The survey also provides you with detailed insights, that are actionable, and help to inform how your operations will be influenced as you continue to grow. Drive your employee engagement plans with guidance from your employees on what areas still need work.
We can help you with all of the above – no task is too big or two small for our experts. Whether you’re looking to conduct employee engagement surveys, or need support in turning those insights into action, we’ve got you covered.
Sources: Inc.com, BizJournals & McKinsey ‘Great Resignation’ Report.