4 ways employers can avoid the 'Great Resignation'
It's a complex issue, but research suggests one reason employees are eying the exit is that they no longer believe their employer cares about them.
As pandemic life approaches the 18-month mark, so many people are quitting their jobs that the phenomenon has earned a pop culture nickname: the Great Resignation. Millions of workers have given notice and moved on, and employers are having a tough time filling open positions. According to a new Gallup study, the Great Resignation cuts across industries and job categories — nearly half of U.S. workers are either actively seeking a new job or passively keeping employment options open.
It’s a complex issue, but research suggests one reason employees are eying the exit is that after an initial feeling of unity with their employers in the early days of the pandemic, the number of employees who believe their employer cares about them has declined. A Gallup poll says almost half of employees reported they believe their company leaders care about their wellbeing in April 2020. By March 2021, only a third still believed that.
Related: Employers revising well-being strategies to address impact of pandemic
Employers can respond to this negative trend by being positive and proactive about employee wellbeing. By taking steps to make wellness a priority and addressing employee needs holistically, employers can keep their most valuable people on board and avoid fallout from the Great Resignation. Also, when you take on this issue directly, you’ll be making a strong statement about your organization’s values at the same time. Here are four ways to Great Resignation-proof your company.
1. Understand employees holistically.
Active concern for employee wellbeing starts with the ability to view every team member as an individual with a life outside of work. Recognizing the stress the pandemic put on employees and families, large employers extended mental health benefits, which is a good start. But to care for employees holistically, employers should consider expanding wellbeing benefits to address physical, career, social and emotional needs, too.
2. Be transparent in your communication with employees.
Addressing employee wellbeing effectively requires understanding what they need from you, so it’s time to have that conversation. A survey is a great way to get clarity on employee expectations. Consider options like additional company culture surveys and holding virtual townhalls to get a feel for employee perceptions on an ongoing basis. Let employees know you value their input by following up.
3. Promote your wellness benefits.
If you have more than 1,000 employees, chances are you offer a wellness program — 85% of employers that size do. But there’s also a good chance your employees don’t know about it; only 60% of employees surveyed were aware of what their company offers. So, promote existing programs to increase awareness.
4. Step up employee engagement efforts.
For wellness benefits to make an impact, employees have to use them. But the survey found that even among the 60% of employees who were aware of their company’s wellness offerings, only 40% used them. Overall engagement matters, so step up your efforts by soliciting feedback, recognizing achievements and setting goals, including wellness objectives. This can heighten interest in participation.
Another factor to keep in mind is that employee expectations are constantly evolving. With almost half the workforce now made up of millennials and Gen Z workers, benefits packages that haven’t been significantly updated over the past several years may no longer meet the needs of today’s workforce. That can hamper your company’s recruiting and retention efforts.
Even before the pandemic, companies were competing fiercely for high-performing and high-potential employees. The current labor market makes it more challenging. But if you approach employee wellbeing in a positive and proactive way, you can gain a competitive edge. Keep employee wellness and these four tips in mind so you can help your company avoid the Great Resignation.
Paul O’Reilly-Hyland is CEO of Zeamo, a digital employee wellness app.
Read more: