“1 in 5 workers quit in the last 6 months” according to the 2022 State of Talent Optimization Report and as such, “The Great Resignation” has been somewhat a buzzword in the news. But what exactly does this massive increase in resignations entail and how can companies avoid losing their entire team?
To fully tackle “The Great Resignation,” it is probably best to understand what is causing such a large flux of people to quit their jobs all at once. Many economists and data analysists have taken to the case, dissecting how the aftermath of the COVID-19 pandemic has incited and magnified the problem of retention overall. Dr. Anthony Klotz, who was the one to coin the term “The Great Resignation,” was interviewed by The Washington Post and he briefly outlined what he believes the main four reasons for this mass exodus of individuals from the workforce:
- Backorder of Resignations: People resign jobs they feel are not a good fit all the time, however, when COVID struck, many people remained in these positions in favor of maintaining financial security during uncertain times. Now, all of those people who would have quit already anyways are being added onto this year’s resignations as well.
- Burnout: Workers in all types of industries ranging from healthcare to white collar desk jobs have been run ragged throughout the trialing pandemic and were expected to continuously accomplish more and work harder, longer hours to pick up the slack of ill coworkers whilst also adapting to an entirely different way of working from home.
- New Identity and Priorities: COVID allowed a lot of people the time to re-evaluate their lives and what they want out of life. Many of these people found themselves to be very different from the person they were before the pandemic and several re-aligned their priorities. Now these people are searching for work that properly coordinates with their new lifestyles.
- Remote Work: Many people actually quite enjoyed the freedoms that working from home granted them and are reluctant to give these up. Not to mention, there are still people who are not willing to risk exposure to COVID for medical or other personal reasons. With a rise in remote positions, many people are quitting for the convenience and safety of working from home.
Some, such as the Harvard Business Review, suggest the decline in population trends and the increase in elderly retirement are also factors in this flux of resignations and high turnover rates. All in all, this boils down to one key point: workers are unhappy and unwilling to work in environments where they do not feel comfortable or valued in. So why are over 42% of these workers, according to an article by Business Insider, who resigned regretting their decisions?
The answer is simple: many people who have changed jobs have found that the grass truly isn’t any greener on the other side. The new jobs they accepted in hopes of re-aligning their lives to match their new priorities ended up placing them in a worse situation than before. Whether due to unmet expectations or a lack of a healthy work culture, it is clear that the Great Resignation is causing constant shifts in the economy. But how can companies make it so employees want to stay?
Consider focusing on what makes your culture strong. Reflect on your values and make sure they still align with your company vision as well as what team members will be able to align with long-term. Contemplate adapting new and fresh ways of looking at change and having discussions about change with your leadership and team members. Ask for input and foster a culture that drives growth plans, is collaborative, inclusive, and looks for new ways to adapt. Keep in mind there are newly emerging and retiring generations that will enter and leave the workforce with new expectations and changing norms.
We asked two of our boomerang employees what made them realize that they preferred working at fOCUS360, and both said that there were three main factors that made them return:
- The work environment within the company
- The value placed on each team member
- The opportunity for growth
Adriana, one of our long-time 2D artists and content creator, said that the work culture fostered at fOCUS360 is comfortable and friendly, making it possible for her to be herself. She feels comfortable collaborating with her colleagues, which in turn makes it enjoyable for her to come into work every day. Claudia, one of our long-time 3D artists, added in that the dedication to top-quality made fOCUS360 a better fit for her in the long run. With every single team member not only upholding themselves to a high standard, but also everyone else on the team to this same standard, Claudia says the results are nothing short of the excellence they strive for. Both Claudia and Adriana also agreed that feeling valued in the work place makes it more enjoyable to come to work and allows for better results. Team members aren’t afraid to offer input, which in turn allows for more creativity to be generated. Claudia and Adriana stated that the opportunities for growth both personally and professionally within the company was the final push they needed to return.
So even while the “Great Resignation” seems unavoidable, you can: own the process of defining what a healthy and balanced work environment looks like for your organization, ensure each team member understands that they are valued, and define metrics and methods to set team members up for success and growth to keep turnover rates low and employee satisfaction high.