COVID-19 affected everybody, especially when it came to their jobs. Due to quarantine, individuals were forced to work from home. This, however, has caused high resignation rates across the country. In July 2021, over 4 million resigned from their positions. A record 10.9 million jobs were left empty by December of the same year.
Seeing top performers leave your company is never a good thing. Over 87% of those in the workforce claim that they have been debating changing careers in recent memory. While the motivations may vary, there are steps employers can take to make sure that their top talent stays with the company.
Unsatisfied workers list burnout, long hours, lack of recognition and low compensation as leading issues. Management needs to implement new strategies so these small issues don’t balloon into catastrophes. For example, burnout affects productivity and has even been linked to poor health. After identifying the problem, solutions can begin to be explored.
Working from home has caused a massive shift in the business world, allowing employees more freedom and promoting a healthy work-life balance. Giving employees the option to continue working from home if they please is something management should consider greatly. Employees today care more about their personal life and health than their careers. Revisit the policies regarding PTO and maternity leave. These actions will encourage employees to stay, and it also makes your company a top-priority destination.
It’s recommended that employers have personal meetings with their employees and offer recognition and praise where it is due. Recognizing accomplishments can improve morale dramatically.
Finally, are the employees compensated fairly? While not the only reason, pay is a major issue for many employees as they are faced with inflation, cost of living, and other expenses. Fair compensation is super important in this new world of work, as less people are willing to work for a stagnant wage. If raises are not an option, benefits and bonuses should be considered.
To learn how to reduce talent loss, please see the accompanying resource provided by GForce Employment Solutions.
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