HR departments have been facing a new problem of mass resignation by employees in various fields around the globe. This has come to be known as The Great Resignation, a term coined by associate professor, Anthony Klotz, who was studying the exits of hundreds of workers at Texas A&M University.
In a staggering and somewhat surprising statistic, Microsoft found that an estimated 40% of global employees are considering resigning from their current roles. In contrast, however, the talent pool has experienced an increase, and organizations with attractive employer brands are successfully hiring more than ever before.
So, why have some brands emerged as more attractive to prospective employees than others? We will discuss where The Great Resignation draws its momentum from and what business leaders can do to remain competitive in order to hire the very best and brightest the market has to offer.
Causes Leading to the Great Resignation
Understanding the causes leading to the Great Resignation is a challenge for some organizations. Here are a few common theories about the reasons leading to the departures:
Uncertainties around remote work
Both the employers and employees were unable to have a mutual understanding of the boundaries of remote work. The uncertainty about where work ends and where personal life begins made it all the harder. Employees were unable to interact with their coworkers and received very little help or guidance from management. Regardless of their struggles, employees were expected to perform better while working from home.
Dissatisfaction with the status quo
Many people argue that the root cause for the Great Resignation was laid long before Covid-19 happened. There have been cases where employees had been dissatisfied with their daily routine due to a myriad of reasons, such as long commuting hours, time away from family, and other associated costs. The scenario in 2020 gave these dissatisfied employees an opportunity to rethink their priorities. According to the latest data from the US Department of Labor, 4.3 million people resigned from their posts in August 2021 alone.
Flexible timings
Since people were sent home and forced to work remotely at the start of the pandemic, they were given flexible timings, and only the targets needed to be met. However, when the economy resumed normal operations and the employees were asked to come back to the office, they were no longer interested in working the traditional 9 to 5 routine.
Ways to Improve your Attractiveness as an Employer
As a business owner or HR manager, you still need to make hirings. For that to happen, your brand must remain attractive to the best talent available. Here are some ways through which you can accomplish that.
Develop your employees
If senior employees have decided to resign from their posts or a new opening has opened up for some other reason, you can develop junior employees to take it up. Assigning challenging roles to passionate and talented employees from within the organization shows that you care about talent development which can serve as a great motivator for potential hirings.
Build an innovative learning culture
Leaders should design certain programs and events that boost the innovative learning of the existing employees. For example, a monthly competition that rates business proposals from employees where the winner gets various facilities like funding or company resources. This culture not only boosts the morale of existing employees but also helps you gain trust and appreciation as an employer.
Focus more on possibilities
Leaders should discuss possibilities and opportunities with their employees more than topics that concern fear and uncertainty. Positive and inclusive company cultures get people talking which can be an excellent addition to your brand attractiveness and hiring initiatives.
Provide easy and flexible exit options
How leaders and other employees treat people when they leave also has a deep impact on existing employees, as well as prospective ones. In numerous organizations, whenever an employee submits their resignation, they are often treated as though they were never part of the company. This is because other employees and certain leaders start doubting their integrity and commitment to the organization as a whole, simply because they decide to leave. Leaders should think about how these behavioral signals impact the employees who are leaving, who are thinking about leaving, who want to stay in the organization and those who are thinking of joining.
To summarize, employees want their employers to express gratitude, recognize their work, and enable and sustain healthy and positive work cultures. They want flexibility more than ever before and they are not afraid to leave their roles if circumstances are not to their liking. Employees learn many things during their time working in the organization and they are very likely to share their experiences with their colleagues. The best way to make your brand the first one they think about when looking for a job is to ensure your brand displays these factors prominently in its work culture.
