The Great Resignation that had shaped 2021 hasn’t ended. By the last quarter of 2021, about 4.5 million workers had quit their jobs, according to a CNBC report on the current labor crisis. At the very least, experts predict that quit rates will lower or slow down so long as companies continue to provide the compensation and benefits that employees need.
For employers, The Great Resignation should be a wake-up call. Because the pandemic forced people to reconsider what really matters in life, employees are no longer willing to shape their lives around work. Workers now understand that they are the backbone of any business and demand to be treated as such.
To help give companies a clearer idea of what the modern employee wants, we’ve outlined the lessons they can learn from The Great Resignation.
Flexibility Is a Necessity
A taste of hybrid and remote work made many people reevaluate the efficacy of the current employment model. A SymptomFind takedown of the 40-hr work week shows that many countries outside the United States have benefited immensely from implementing shorter workweeks. The Government of New Zealand encourages companies to offer flexible work arrangements, which succeeded in decreasing stress and boosting employee satisfaction.
Many companies in Sweden only require six hours of work each day, a system that improved both employee productivity and their employees’ mental, physical, and emotional health. Good work cannot be achieved without health workers, and workers can better take care of themselves when offered flexibility.
Paid Leaves are a Right
Before their pandemic, many people made work the center of their lives. But time spent at home during enforced lockdowns, as well as the increased threats to health and mortality, highlighted the aspects of life that people often set aside, such as hobbies, mental health, and quality time with friends and family.
Aside from flexible work options, companies should also offer their employees paid leave for valid reasons like significant family events and health emergencies. Employees should also be afforded a reasonable number of vacation leaves.
As we mention in Why Taking A Day Off Is Good For Your Mental Health when work-life balance is off, it can lead to employee burnout. By giving employees vacation leaves, customers give them the chance to rest, thus boosting their future productivity.
Loyalty Goes Both Ways
By December 2020, workers that had been permanently laid off from their jobs represented 38.9% of America’s unemployed population. At the beginning of the pandemic, March 2020, they represented 28.9% of the unemployed. Because job layoffs were common and frequent, stress increased for the employees that remained.
Not only did they feel that their employers no longer valued them, but they were also forced to take on the additional responsibilities carried from lost labor. The added pressure and feelings of job insecurity compelled many workers to quit on their own terms.
Focus On Upskilling
During The Great Resignation, many employees left their jobs because they did not feel valued by their companies. However, according to research conducted by social media platform LinkedIn, 94% of employees said that they would remain in their jobs if their companies offered them upskilling opportunities. Upskilling benefits both the employer and employee: it proves to employees that the company is invested in their growth while also building skills that can help the company progress. Rather than overspending resources trying to scout new talent in a competitive hiring market, today’s companies should improve the loyalty of their current employees and offer better training opportunities.
Any business that hopes to succeed needs healthy, satisfied workers supporting it. To avoid another Great Resignation, companies need to give their employees the treatment they deserve.
