avatarS M Mamunur Rahman

Summary

The article discusses strategies for companies to retain employees amidst the Great Resignation, emphasizing the importance of addressing employee burnout, offering flexible working conditions, and improving job appeal.

Abstract

The "Great Resignation" has seen a significant number of Americans leaving their jobs, with a preference for remote work and better pay and conditions. The pandemic has led to a reevaluation of life and career priorities, prompting a surge in job quitting. Companies face the challenge of retaining talent by treating employees humanely, offering flexible work arrangements, improving job satisfaction, and preventing burnout. The article suggests that companies must adapt to these new expectations to keep their workforce engaged and committed.

Opinions

  • Employees are seeking more than just salary increases; they want better work-life balance, remote work options, and improved working conditions.
  • The pandemic has acted as a catalyst for employees to reassess their professional lives, leading to a desire for change and the pursuit of personal passions.
  • Companies like REI Co-op and Kickstarter are pioneering new work models, including satellite offices and four-day workweeks, to meet employee demands.
  • There is a call for companies to be more empathetic and considerate, recognizing employees as humans with lives outside of work.
  • The article implies that the Great Resignation is an opportunity for companies to redefine their relationship with employees and create more appealing and humane work environments.
  • The author suggests that companies that fail to address the underlying causes of employee dissatisfaction risk losing talent to those that adapt and innovate their workplace practices.

The Great Resignation — What Companies Can Do to Retain Their Employees

56% Americans said that they would prefer to work remotely

Photo by Tim Gouw on Unsplash. Edited by the author using Canva.

Let’s admit it — thanks to the pandemic, people are now more adventurous than they were ever before. And it’s not money that they only care about.

People have already rediscovered themselves after witnessing what an unexpected event can do to their lives. Now, they know who they are and what they really want in life.

They are not satisfied with the concept of being the money-making machine anymore. So, the sad news is — no, you cannot keep them only by raising salaries or giving them some bonuses.

Well, that’s important, of course — but that’s not the only thing that matters.

According to the most recent data from the US government, around 4.3 million Americans left their jobs in August alone. And the trend is only getting momentum with time. As a result, the sectors like hotel, travel, manufacturing, healthcare, warehouses, bars, and many more are facing substantial worker shortages.

As America loves to put the word ‘great’ ahead of everything (no matter how dismal the situation is), it named this historic job quitting event The Great Resignation.

Now, there are 10.4 million job openings in the US, according to the Job Openings and Labor Turnover Summary by the US Bureau of Labor Statistics. That means there are more jobs available now than ever before in American history.

But wait a minute! What really triggered the tsunami of people to join this job-quitting revolution?

The Reasons Why People Are Quitting Their Jobs

There are millions of reasons why people are joining the job-quitting revolution even when the pandemic situation is more or less under control. However, here is a few key reasons you should pay attention to when your employees are quitting their jobs.

They are burned out

Anthony Klotz, a management professor at Texas A&M University, said that the pandemic time helped people question what they’re doing at work and inspired them to make a change.

After staying with their families during the pandemic time, people realized that they needed a break from their jobs. They are burned out working in the same job years after years. So they became adventurous and quit the old ones with the hope of getting new and better opportunities.

Looking of better pay and working condition

A survey by Bankrate reveals that 53% of Americans are looking for higher pay. Because the money they were getting from their jobs is not enough to live the life they wish to live.

An article in Washington Post reads that this big quitting in the United States was preceded by a far greater — decades-long, arguably — stagnation in worker wages and benefits. It further mentions that the lower-end jobs, earnings have not matched the pace of inflation, while work grew more informal and precarious.

Not only the better pay — people are also searching for better working conditions and flexible working arrangements. They don’t want their entire day to be eaten up by the work. Instead, they want to establish a work-life balance that they were deprived of for years.

Preference to work remotely

“Pandemic-inspired changes, including the ability to work remotely and/or from home, have transformed mindsets and expectations for many workers,” said Mark Hamrick, Bankrate Senior Economic Analyst and Washington Bureau Chief.

People have already realized how futile it is to show up every day in the office and work sitting in front of the laptop to do the same work they can do perfectly from home.

That’s why 56% said that they would prefer working remotely or flexible working hours.

Pandemic epiphany

Pandemic made a massive impact on people’s minds. Danny Nelms, president of the Work Institute, echoes the same. He said that people are now more conscious about their life and career and their jobs.

The pandemic taught people great lessons that there are more things in life than only working hard and living paycheck to paycheck. People are now more inspired to follow their passions or long-forgotten dreams.

So, many of them are quitting their jobs only to follow their lifelong passions. Now, they want to live a life they have always wanted to live.

What Companies Can Do to Retain Their Employees

As you are already aware of the key reasons, now you can bring changes that ultimately convince your employees to stay at work. Here are a few things you can do for that —

Treat your employees as humans

Your employees are not robots. They are human beings, and they want to be treated like that. They expect you to be considerate and empathetic. And, most of all, they want you to be nice to them.

Offer flexible working hours and locations

Many companies have already started this to keep their employees from leaving the job. And it’s working. For example, REI Co-op began to have satellite offices, and now their employees can work in the satellite office close to their homes. In addition, they are going to test a hybrid work model so that their employees can work from home up to five days per week.

Kickstarter, a crowd-funding platform, has already announced a pilot four-day workweek starting in 2022. Even companies like Nike, Bumble gave their employees a week off from work to get recharged. So, decide what you are going to do to cheer your employees up!

Make the jobs more appealing

How can you do that?

Well, the following can help you out —

  • Make changes in the policy to give more employee benefits, higher pay, and flexibility.
  • Take health care issues very seriously
  • Create better opportunities and scope for career growth
  • Offer remote working opportunities (whenever possible)
  • Arrange dynamic employee training

The idea is to make your employees feel that they matter and you care for their well-being. Show them that you have no intention to suck everything out of them; instead, you want them to grow with the company.

Recharge your employees

Forty percent of employees cited burnout as one of the primary reasons for leaving their job. So, make sure to create an environment where employees don’t get burned out.

Give your employees enough work flexibility to establish a balance between their work and life. When they feel burned out, offer them a few days’ breaks to get recharged. Think from their perspective and act rationally. Don’t be a scary leader, be friendly and inspire them to do their best.

Companies can learn a lot from this ongoing job-quitting revolution.

They must treat their employees as human beings, offer higher pay and other employee benefits, create an enabling working environment, and give them enough time to spend with their families to have a balanced life.

So, are you ready to make some changes??

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The Great Resignation
Career
Jobs
America
Leadership
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