The Great Resignation
We’re entering a new post-pandemic paradigm. The old-school management style of dictating terms to workers is ending. An ongoing war for talent pushed businesses, such as Target and Walmart, to offer free tuition for their workers. Many companies are providing sizable sign-on bonuses and higher wages to attract and retain people.
The “Great Resignation” is a sort of workers’ revolution and uprising against bad bosses and tone-deaf companies that refuse to pay well and take advantage of their staff. Millions of workers voted with their feet and walked out of their jobs—many without having another position already lined up. They no longer want to feel like victims. The quitters are making a powerful, positive and self-affirming statement saying that they won’t take the abusive behavior any longer.
Dr. Laura Hamill, chief science advisor at Limeade, an immersive employee well-being company with a mission to create healthy employee experiences, said about this trend, “The mass exodus workplaces have experienced over the past several months is unprecedented—burnout levels reached an all-time high. There was a societal breakdown when it came to the ecosystem of work, home and well-being. People reached their limits."
They know they must make changes or their best and brightest will leave to a competitor. Whether or not they truly believe it, leadership is now intently focused on expressing empathy to ensure that their staff are not succumbing to burnout or suffering from mental health issues.
The five main reasons why employees quit:
- Burnout: 40%
- Company going through organizational changes: 34%
- Lack of flexibility: 20%, Instances of discrimination: 20%, Contributions and ideas not being valued: 20% (three-way tie)
- Insufficient benefits: 19%
- Well-being not supported by the company: 16%
What the job switcher sought out in a new job:
- Ability to work remotely according to personal preference: 40%
- Better compensation: 37%
- Better management: 31%
- Better company reputation: 29%
- Better work-life balance: 26%
- Flexible work schedule: 24%
If issues are left unresolved, they fester and may turn good employees into toxic liabilities. Hamill contends that it's not necessarily the employee who is to blame. While there will always be a bad apple in the bunch, managers must take their share of accountability. “It's not a personal problem; it's an organizational problem,” she said.
More importantly, workers simply want to be recognized; in fact, according to bonusly.com, 63 percent of those in a recent survey who said they are regularly recognized also said they are very unlikely to look for a new job. Workers want organizations that understand that hybrid work requires management to communicate more, not less. They want their boards and HR departments to finally awaken to the fact that narcissism is a malignancy and that bullies have no business managing other human beings.
They also want to work for companies they can be proud of, that are involved in their communities and that take a stand for things that they believe matter. They want to work for companies that cut bad costs discriminately, not for machete-wielding SG&A slashers who cut everything in sight. They want to work for companies that believe the best time to invest in training and education is when business slows down. And they want a say -- in decision making AND in their own scheduling. But don't simply take my word for it, ask them.
The smartest business leaders today are taking the time to ask their associates regularly and formally what is and is not going well as they navigate this strange new world. They are doing so apart from normal engagement measurement efforts (which I recently wrote about here). Best-in-class leaders are not just asking for, but are taking action on, associate feedback. These employers are finding pain points for associates and getting them out of their way. Most associates are reasonable. Few expected that their leaders would have all the answers as this pandemic struck then dragged on. What they simply want, at a minimum though, is that their leaders take the time to honestly communicate about what is happening and to ask them for their input. Companies that take these simple steps and those listed above stand a far greater chance of keeping valued associates as the Great Resignation drags on. And that's not the only silver lining.
As much as the Great Resignation has created significant disruption for many organizations, smart businesses should alternately view it as a tremendous opportunity. The market is being flooded right now with people looking for something better, people who have had enough of organizations that do not care. For smaller enterprises that take the time and energy to not only talk about being better but to actually prove that they are a better, more caring place to work, there is a great pool of talent waiting to beat a path to their door.
It's all about caring.
It's a simple choice. One that some 11.5 million people and counting are begging for more companies to make.
