The Great Resignation
In my last post, I lamented that workers are hard to find these days. And I suggested a few possible reasons why this might be so, specifically that they may have better “offers” to stay home. I also noted a few ways your organization could entice them to come to you. (If you’d like to brainstorm some ideas with me, I’m here!)
Another interesting trend right now is the surprising number of people quitting their jobs.
“Beginning in April, 4 million people quit their jobs, or 2.8 percent of the workforce. In May, 2.7 percent of the workforce bailed out. Even a 2-percent-per-month quit rate amounts to roughly one-quarter of the workforce leaving every year.” - Bankrate
That’s a lot of turnover! In fact, some are calling this The Great Resignation. And these numbers are hitting the hospitality and service industries especially hard – perhaps because it’s just not worth it to deal with some of the nasty customers we’re hearing about lately. (Don’t let your customers treat your people badly! Back them up.)
The research shows that these decisions are, in fact, not made for financial reasons. This is not a case of Show Me the Money. According to a recent survey by Bankrate, more than half of those who quit are looking for greater flexibility in their jobs. That’s true even among people who make less than $30,000 a year.
This shouldn’t be surprising to us, though I’m sure it feels that way. It’s a trend that’s been heading our way for a while, and it’s something I’ve hinted at previously – through posts on work-life balance, employee wellbeing, and a need for fewer/shorter work hours. Our employees are seeking more happiness. They want more out of life. They don’t want to be defined solely by their roles at work, and they want time to enjoy their families and friends. Many are also seeking a sense of greater purpose – a stronger why to the hours they put in. All of this adds up to them wanting to call the shots, to decide when and where they want to work.
Relatedly, a recent Gallup poll measured current levels of employee engagement — people who are emotionally attached to their workplaces and motivated to be productive – at around 34% (a slight improvement over recent years, believe it or not). That means approximately two-thirds of our workers nationwide are disengaged, only doing what is required to get a paycheck. Of this group, some may even be so unhappy that they are actively (or even passively) undermining their employer.
We can look briefly at history to see why this is so. In the 1980s, organizations started to restructure, seeking to increase shareholder value. Employees were viewed as expensive and expendable resources. Workforces and benefits were cut. This meant that those who worked were working harder for less. Without a feeling that they were being looked after by their employer, loyalty among workers waned.
The remedy to this issue is obvious: treat your people well. Value them, and they will value you and want to do what’s right for the company. To know what your people want, you simply have to ask them. Don’t fear they’ll ask for too much. Most employees are reasonable human beings. They know you have a business to run. They just also want to matter.
What do your people want? How do you know? Who have you asked? Who haven’t you asked? (Why not?) How do you let them know you are listening?
How can you better support the needs of your workers? What flexibility can you provide – in terms of hours, shifts, days, or remote options?
How else can you let them know you care about them and their wants and needs? How can you show them they matter to you and your organization?
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