It’s a war zone out there, isn’t it?
Not only is your company battling literally every other organization out there to attract talent, but with how workers are now leaving their current jobs in droves–a record 4.3 million people quit their jobs in August of this year–you’re also fighting the war of retaining talent.
I don’t have to bore you with the numbers of how expensive it is for a company to have a high turnover rate; you know what the “churn and burn” mentality does to the financials, even if you’re paying near-poverty-level wages (but that’s a completely different discussion).
But still, the fact of the matter is that most organizations are experiencing high turnover right now, and, as we mentioned a few weeks ago, a big part of that is because workers have options, and they’re exploring those options. Because they can.
What we’re seeing now is a shift in the power within the employer-employee relationship, and the future success of your organization is going to lie in how you respond to that.
Why So Many People Are Quitting Their Jobs
Let’s just be blunt here: workers had an eye-opening experience during the early part of the pandemic.
Millions across the country were tossed out like last week’s leftovers when the economic downturn started, and those workers quickly realized that the company they were loyal to really didn’t give a shit about them. This forced those workers to seek out other opportunities and, guess what, they found them. And not only did they find additional opportunities, but they realized just how many opportunities were actually out there.
Millions more realized that working remotely is more efficient, great for the mental (and overall) health, and actually works…and now they’re being dragged back to the office because their boss has a fetish for keeping his or her thumb on the underlings.
Now, I ask this with sincerity: are you really surprised that people are quitting their jobs in record numbers? Because you shouldn’t be. Company-paid pizza lunches on Fridays for 30 minutes only go so far to boost morale in this day and age.
How To Attract And Retain The Best Talent During The Great Resignation
The Great Resignation is here whether you like it or not, and crying wolf and saying your company is having staffing issues due to people “not wanting to work” is not only (ironically) lazy and inaccurate, but also not making any progress in getting through it. So what can your company do? These three things:
1. Listen To What Workers Value
As I mentioned before, job seekers (and current employees) have a lot of leverage right now. If working remotely is a top importance for someone and you won’t offer it, that won’t be very difficult for them to find somewhere else. And they will. Trust me. Right now, it’s important to listen to what not only your current employees are putting value in with their work-life balance, but also the people you’re interviewing. Small adjustments can be the difference between a solidly staffed workforce and a revolving door.
2. Train & Invest In Good Managers
There’s an old adage that people don’t leave bad jobs, they leave bad managers. Currently, there are many workers leaving bad jobs as well, but having awful managers in place is still a major problem for many companies throughout the country. Some organizations promote based on tenure and put people into management positions that simply aren’t good managers. Some organizations simply don’t know how to identify good managers to put in those roles, so they throw mud at a wall and see what sticks. The majority of Americans believe that their manager needs additional training. It’s time to invest in those people that are leading your workforce.
3. Reward The Faithful Employees
Take a look at your workforce. Without a doubt, there are at least a handful of people that have been with you through thick and thin, and are still willing to jump on the next grenade that comes close. Do yourself a favor and acknowledge that commitment. Again, I’m not talking about a pizza party. Bring those workers in for one-on-ones and find out what you can do to make their day better. Maybe it’s letting them take a half-day on Friday to spend more time with their family. Maybe it’s the simple acknowledgment and appreciation. Small gestures can have a big impact with people. Take time to show appreciation.
At the end of the day, we’re all people, we all have our own wants and needs, and those wants and needs need to be satisfied. If they aren’t satisfied, and there are other opportunities out there to find that satisfaction, it’s human nature to pursue those possibilities. Your company just needs to position itself to satisfy those wants and needs for as many people as possible. That’s how you win this war.
If your company is struggling to attract and retain workers, contact The Jellison Group today for a free consultation on improving your organization’s leadership and culture, which will strengthen your entire workforce. The Jellison Group is a Gallup Strengths certified organization committed to improving the situations of both people and businesses alike.