The Great Resignation is in full force.
26% of employees are currently planning to look for a new job as the pandemic subsides.
Even worse, that number is 34% for millennials.
According to the Bureau of Labor Statistics, 4.3 million people quit their jobs in August.
Across the board, turnover rates are skyrocketing. More people are leaving their jobs than ever before.
HR needs real solutions for the Great Resignation. Here are a few ideas to reduce employee turnover.
Focus on Retaining Your Best People Through the Great Resignation
Obviously you should put time and effort into supporting all of your employees. But for your top performers, try to go the extra mile.
Think of the people where it would really hurt to lose them. Ask their leaders to work closely with HR to develop customized plans and solutions. There’s no one-size-fits-all approach to retention.
One team member may want a better work life balance.
Another may want a clearer career path.
And a third employee might just want remote work options.
Some people care about flexible work, others care about a better work environment.
Encouraging one top performer to stay could be as easy as offering work from home.
That’s why it’s important to focus on high-performers. Then you can develop solutions that motivate these individuals to stay.
We all want EVERY employee to feel supported and have a positive experience. However, we only have so much time and resources to put towards retention. The Great Resignation means almost every employee is a flight risk. You have to focus your efforts on those most valuable to your team.
Focus on retaining the people who really gel with your company culture and purpose. Zero in on those delivering amazing results day-in, day-out.
Invest in Your Leadership to Reduce Turnover During the Great Resignation
People don’t quit jobs, they quit bosses.
It’s a cliché at this point, but it’s really true.
In the age of the Great Resignation, leadership makes all the difference.
Having a bad leader can ruin your employee experience, no matter how great the rest of the company or team is. The other side of the coin is that sometimes, even a great leader rubs someone the wrong way because they don’t know how that person is wired.
Always be developing your leaders. No matter how well they are doing or how long they’ve been in a leadership role, we are always learning.
The other side of the coin is that you need to deal with poor leaders immediately. Either fire them or make sure they are spending time and effort developing their leadership abilities.
It may sound harsh, but replacing an ineffective leader is a small price to pay compared to losing an entire team.
The last thing you want is a score of high-performing employees quitting because they got fed up with a poor leader!
Work on Truly Understanding Your People
You can’t retain people if you don’t understand what they do and don’t like about working for your company.
Historically companies throw money at the turnover problem. They offer solutions that no one asked for.
To get through the Great Resignation, you need a new strategy.
The problem is that understanding your people is hard!
Sometimes employees don’t even know for themselves what is needed to create a stronger employee experience.
By understanding what makes our people “tick” and where they naturally thrive, we can lead our teams and design our workplaces so that people are more satisfied and able to deliver their best.
It’s not just about retention, it’s about building teams with true chemistry that are able to crush your business goals!
Despite the Great Resignation, Building a Better Workplace Starts Today
Employees leave. It happens. But it doesn’t have to be your new normal.
Creating effective long-term solutions to turnover is not easy but it is well worth it. It’s even harder during the Great Resignation. But solutions for turnover also boost morale and employee engagement. Overall, addressing turnover means building a better business.