How Employers Can Get Ahead of 'The Great Resignation'
<p>Many companies and employers have adapted to the ‘<a rel="noreferrer noopener" href="https://www.trueprofile.io/partner/resources/new-normal-offers-new-talent-to-the-gcc" target="_blank">new normal</a>’ but are not prepared for the next big problem: The Great Resignation. <strong>What is it? </strong>It’s an issue that’s growing across the globe where employees are resigning from companies in their droves, and it&#8217;s affecting all industries.&nbsp;</p> <h2>What fueled this mass exodus?</h2> <p>During the pandemic, many people had time to <a rel="noreferrer noopener" href="https://www.cnbc.com/2021/06/24/workers-are-quitting-their-jobs-to-prioritize-their-mental-health.html" target="_blank">reflect on their professional status, happiness and mental health</a> and whether their current work/life balance accommodates their wants and needs. Large amounts of people began handing in their notices and embracing, or making, opportunities elsewhere where work is more flexible and balance is achievable. Others rethought their skill sets, retrained and set their focus on other industries. This revolution is widespread and affecting industries from healthcare and IT to finance and education.&nbsp;</p> <p>Some people even quit their profession entirely after the pandemic highlighted the volatility associated with specific industries. These considerable departures are only beginning and will continue to worsen. A <a rel="noreferrer noopener" href="https://www.microsoft.com/en-us/worklab/work-trend-index" target="_blank">Microsoft survey</a> revealed that <strong>41% of the entire global workforce are thinking of quitting their jobs</strong>, particularly those suffering from extreme burnout. Another study from <a rel="noreferrer noopener" href="https://learnmore.monster.com/job-index-in-the-time-of-coronavirus" target="_blank">Monster</a> reported that <strong>95% of survey respondents consider changing jobs</strong>, with <strong>29% of people wanting to resign due to a lack of growth opportunities</strong>.&nbsp;</p> <p>Particularly with an industry like healthcare where health workers have been left burned out, exhausted and mentally <a rel="noreferrer noopener" href="https://www.personneltoday.com/hr/nhs-staff-shortages-biggest-driver-of-burnout/" target="_blank">depleted from staff shortages</a> and a pandemic, employers should facilitate alternative methods for delivering care services. Remote services, like <a rel="noreferrer noopener" href="https://www.trueprofile.io/partner/resources/the-rise-of-telemedicine-in-2020" target="_blank">telemedicine</a>, reduce the need and time to travel and help significantly with stress, sleep and pressure. In the UK, the <a rel="noreferrer noopener" href="https://www.bma.org.uk/bma-media-centre/personal-impact-of-the-covid-19-pandemic-on-doctors-wellbeing-revealed-in-major-bma-survey" target="_blank">British Medical Associations survey</a> reported that <strong>21% of 7,000 doctors said they are likely to leave the </strong><a rel="noreferrer noopener" href="https://www.trueprofile.io/partner/resources/the-uks-healthcare-industry-issues-and-priorities" target="_blank">NHS</a><strong> for another career</strong>, while <strong>28% are more likely to retire early</strong>. In addition to happier employees, for organizations or providers, hybrid or remote work like <a rel="noreferrer noopener" href="https://www.trueprofile.io/partner/resources/telemedicine-emergency-fix-or-permanent-solution" target="_blank">telemedicine can streamline</a> complex workflows, reduce care delivery costs and drive health system revenue.&nbsp;</p> <figure class="wp-block-image size-large"><img loading="lazy" width="1024" height="535" src="https://production-prod-trueprofile-blogassets-origin.s3.ap-southeast-1.amazonaws.com/uploads/2021/07/shutterstock_1692713995-1024x535.jpg" alt="21% of 7,000 doctors said they are likely to leave the NHS for another career" class="wp-image-12059" srcset="https://production-prod-trueprofile-blogassets-origin.s3.ap-southeast-1.amazonaws.com/uploads/2021/07/shutterstock_1692713995-1024x535.jpg 1024w, https://production-prod-trueprofile-blogassets-origin.s3.ap-southeast-1.amazonaws.com/uploads/2021/07/shutterstock_1692713995-300x157.jpg 300w, https://production-prod-trueprofile-blogassets-origin.s3.ap-southeast-1.amazonaws.com/uploads/2021/07/shutterstock_1692713995-768x401.jpg 768w, https://production-prod-trueprofile-blogassets-origin.s3.ap-southeast-1.amazonaws.com/uploads/2021/07/shutterstock_1692713995.jpg 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption>21% of 7,000 doctors said they are likely to leave the NHS for another career</figcaption></figure> <h2>What can employers do to get ahead of &#8216;The Great Resignation&#8217;?</h2> <p>First off, employers can help employees maintain a sense of balance by offering flexibility for in-person and remote work. A survey conducted by <a href="https://news.prudential.com/presskits/pulse-american-worker-survey-is-this-working.htm" target="_blank" rel="noreferrer noopener">Morning Consult</a> in March 2021 revealed that <strong>42% of employees would hand in their notice if their employer didn’t offer long-term remote working options</strong>. This highlights how the ‘new normal’ has really just become the ‘normal’ and employers need to embrace and adapt to that reality, and employees’ expectations, in a post-pandemic world. Support your WFH employees with home office resources, subsidized remote-work expenses and flexible scheduling.&nbsp;</p> <p>While full-time occupancy at the workplace might seem like a distant past, many industries agree that physical presence isn’t a prerequisite for success. However, some employees are leaving jobs because the working environment is now entirely remote and they crave social interaction that remote work can not entirely replace. The Prudential’s March 2021 ‘<a href="https://news.prudential.com/presskits/pulse-american-worker-survey-is-this-working.htm" target="_blank" rel="noreferrer noopener">Pulse of the American Worker Survey</a>’ highlighted that <strong>socializing with colleagues was the most challenging part of work to replicate in a remote environment</strong>.&nbsp;</p> <p>Accenture created a <a href="https://www.accenture.com/us-en/insights/future-workforce/employee-potential-talent-management-strategy" target="_blank" rel="noreferrer noopener">‘Net Better Off’ model</a> where they focus on ‘making business personal’. This model addresses employees’ fundamental human needs and says that companies can unlock their workforce’s full potential while creating a meaningful and trusting relationship if the following 6 dimensions are met: </p> <ul><li>Emotional &amp; Mental</li><li>Relational</li><li>Physical</li><li>Financial</li><li>Purposeful</li><li>Employable</li></ul> <p></p> <p>Organizations can discover their ‘Net Better Off’ (NBO) score across these six dimensions by taking this <a href="https://insight.9lenses.com/vs/?e=54333a1b-42c9-45fd-9e4f-88e67b1c4ab1&amp;p=index" target="_blank" rel="noreferrer noopener">NBO diagnostic survey</a>.&nbsp;</p> <figure class="wp-block-image size-large"><img loading="lazy" width="1024" height="535" src="https://production-prod-trueprofile-blogassets-origin.s3.ap-southeast-1.amazonaws.com/uploads/2021/07/d-1024x535.jpg" alt="" class="wp-image-12058" srcset="https://production-prod-trueprofile-blogassets-origin.s3.ap-southeast-1.amazonaws.com/uploads/2021/07/d-1024x535.jpg 1024w, https://production-prod-trueprofile-blogassets-origin.s3.ap-southeast-1.amazonaws.com/uploads/2021/07/d-300x157.jpg 300w, https://production-prod-trueprofile-blogassets-origin.s3.ap-southeast-1.amazonaws.com/uploads/2021/07/d-768x401.jpg 768w, https://production-prod-trueprofile-blogassets-origin.s3.ap-southeast-1.amazonaws.com/uploads/2021/07/d.jpg 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption>42% of employees would hand in their notice if their employer didn’t offer long-term remote working options</figcaption></figure> <h2>Purpose and Belonging</h2> <p>While competitive salaries and benefits are great, people want to feel a sense of purpose. Inclusion, diversity, culture, and transparent communication throughout the organization are all critical drivers to attracting and retaining talent. Other people move to remote or hybrid roles to save money, time, and health and wellness benefits.&nbsp;</p> <p>Particularly in a competitive job market, companies need to invest in their talent pool and retain that talent. And while &#8216;The Great Resignation&#8217; can be seen as something negative, it’s also a brilliant opportunity to position your organization as an employer of choice, only <a rel="noreferrer noopener" href="https://www.trueprofile.io/partner/resources/9-effective-employee-retention-strategies-for-2021" target="_blank">recruiting qualified and verified talent</a>.</p> <h2>Talent Retention Strategies</h2> <p>Inspire an employee or candidate&#8217;s confidence with opportunities to grow, get promoted and thrive within your organization. Even during the hiring process, it&#8217;s important that every job applicant has a <a href="https://www.trueprofile.io/partner/resources/creating-an-effective-onboarding-process-for-international-hires" target="_blank" rel="noreferrer noopener">great candidate experience</a>. From onboarding, mentoring and incentivizing to L&amp;D, communication and flexibility, there are so many ways that you can put a strong retention strategy in place. You can find out more about how to <a href="https://www.trueprofile.io/partner/resources/9-effective-employee-retention-strategies-for-2021">implement a retention strategy as a preventative measure here</a>.</p> <p>Overall, companies need to future-proof their workforce, whether it’s hybrid, entirely remote, or back to the workplace. Employers must enable a space (virtual, physical, or both) where employees can achieve a work-life balance that facilitates their best selves and trust must be in place to allow them to do just that. Do what you can to keep your talent from joining &#8216;The Great Resignation&#8217; while attracting ideal candidates to move your organization into the future. </p> <h3>Hire your ideal candidates with <a href="https://lp.trueprofile.io/recruit-medical-staff-free-trial/" target="_blank" rel="noreferrer noopener">TrueProfile.io Recruiting</a>. With a pool of over 150,000 pre-verified professionals ready to work, you can hire your perfect employee expeditiously and get ahead of ‘The Great Resignation’.</h3>