Will You Be Impacted By the Great Resignation?

Recent research reported by Smart Company and Microsoft has shown that up to 40% of employees are looking at resigning due to the pressure and burnout from the COVID19 pandemic.  Many staff are feeling unappreciated and unloved.  

The frightening thing that I am noticing is that many top executives are not aware of this.  Some are so old school that they still believe that staff will cling to any job to keep the security given the uncertainty of the pandemic.  Right now, recruiters are reporting there is currently massive demand for good quality staff at all levels, ranging from the frontline to the top level.  

On top of this is the recent research by Garner in their 2021 Hybrid Work Employee Survey that showed 54% of employees say that their ability to work more flexibly would impact whether they will stay at their current organisation or not!  On top of this 68% said that they prefer a hybrid model that allows them to continue working remotely as things go back to the new ‘normal.’  

So what is your leadership team planning to offset this great resignation that has already started to occur?  If you believe that having a ‘flexible’ workplace means that staff may be able to take a day and work remotely once in a while, you may be at direct odds to what most employees are thinking and when staff start leaving it will be too late! 

What can you do to reduce the great resignation from impacting your business?  Here are 3 key initiatives that you should be doing:

• Communicate & Share Your Appreciation.  Now is the time that leaders need to communicate with staff and listen to the fact that they are exhausted and mentally drained and need to have a ‘whinge.’  You need to do small things to show your appreciation. This can include taking them to lunch, providing meal, movie or massage gift cards that provide them with an experience they will enjoy. 
• Plan a Fun Christmas Event.  In speaking with a number of clients, they are planning big Christmas events this year for their people.  The reason why is that all the disruption and stress need to be left behind so people can look forward to next year.  To offset state border lockouts they are looking at having regional or state based events and including staff partners.  A few of my clients are considering doubling their budget to offer small gifts of thanks to their people.  
• Develop Their Skills.  One of the best ways to show people that you appreciate them is to develop their skills.  Sign them up for a customised program that helps them find ways to get more things done in less time, which will reduce their stress and workload. Staff that are growing and see opportunities in the future are the ones that want to stay and make things happen, which will often help them resist offers from competitors!

If you want some help getting a competitive advantage and keeping your people from resigning, I recommend my Leadership Journey Program.  This 90 day jumpstart program is designed to lift your leaders abilities in managing the hybrid workforce and keeping their people performing at the next level.  Please Click Here for a Free 15 minute Consultation to find out more.