As CEOs and managers, it is critical to address The Great Resignation -- a workplace phenomenon birthed out of the 2020 COVID-19 pandemic, in which large numbers of workers are leaving their jobs, changing their jobs, or retiring from their jobs altogether. In a time where it is incredibly likely that your employees are considering a change, a few key factors will help you attract and retain high-potential employees: workplace flexibility, opportunities for advancement, and ways to address burnout.
When many workers were forced to work from home during the pandemic, it revealed several things: first, many employees enjoy and need the convenience of working from home, and second, being in-office from 9am-5pm is not always necessary. Even as businesses return to the office, many employees still need the ability to work from home occasionally or to hold more flexible office hours. In order to retain employees in 2022 and beyond, it is crucial that leaders be willing to implement workplace flexibility with employees. While this may look different for each company, the underlying need is the same: employees require bosses who understand that their needs and requirements do not start and stop at the office. We love this article that describes ways to implement better workplace flexibility.
Advancement in the workplace is often a moving target. In order for employees to feel that their hard work is noticed and valued, they need opportunities to grow and advance. Here are a few ways to help employees move forward:
Offer growth opportunities. This may look like implementing a mentorship or sponsorship program, or it may look like a company-funded workshop or online course about employees’ areas of interest. It may simply be the chance to take on responsibilities out of their typical scope of work. Be creative in offering opportunities to grow!
Create fair advancement procedures. Be transparent in how you select promotions, and let your employees know when promotion opportunities become available. Ditch the “behind the scenes” work and be honest, open, and fair in advancements.
Express your intentions. Employees who know you’re dedicated to their advancement and are making it a priority are much more likely to stick around!
After 18 months of pandemic repercussions, the majority of the workforce is experiencing some combination of physical, mental, and/or emotional burnout. Knowing that burnout is a common experience, it is important for business leaders to provide their employees with ways to cope with burnout now and, hopefully, avoid it altogether in the future! For employees working from home, this article from Creately offers useful coping and prevention methods. For employees returning to the office, this article from Harvard Business Review provides five suggestions to ease employees back into a “normal” work routine. Burnout doesn’t have to be the norm, and helping your employees address and overcome burnout will translate to higher employee retention.
Companies with increased retention experience increased performance in the long term. Executives who address flexibility, advancement, and burnout by providing resources and solutions for their employees can see up to a 3-5% increase in retention, which can save over a million dollars in turnover costs.
In the middle of The Great Resignation, make your business stand out! Create a work environment where employees want to stay. If you need help creating a workplace culture that attracts and retains talent, We Optimize Work can help. We Optimize Work helped one organization increase their retention of women by 10%, which saved their company over $1.2 million dollars in turnover costs.
We Optimize Work empowers executives by optimizing how they reach their operational and productivity goals through retaining and equipping employees to reach their fullest potential. Visit www.weoptimizework.com to book a call with Domonique or message her personally on LinkedIn to learn more.