Don’t Lose Talent to the Great Resignation
Dear Jenny,
I work in the HR department of my company and we are having a crisis! We are losing employees faster than we ever have before. We are trying to understand what is happening and why. These are awesome team members, and we want to keep them here. Can you give us some insight?
Thanks,
Panicked Patricia
Dear Patricia,
I’m not surprised you’re having a crisis. Employees are quitting at a higher rate than ever before. This is a worldwide phenomenon in many organizations, and the obvious answer is burnout due to COVID-19.
However, there are underlying causes for this burnout. Employees often feel like they are not being heard. They want improvements in their work environment and work-life balance. They want to feel like their opinions matter, and they need autonomy – not micro-management – to do their job well.
Employers must take the time to understand what drives employees, give them work that satisfies them intellectually, provide opportunities for development (i.e., professional training), and empower them with autonomy.
Companies experiencing high turnover should adopt an employee retention strategy, including performance management, professional growth opportunities, and clear career paths.
For starters, it’s a good idea to do an audit to identify any gaps in employees’ needs. The results are helpful for your budgeting process and identify the areas of opportunity, particularly concerning training. It’s also useful to conduct exit interviews on departing employees so you can find out why they are leaving.
Employee retention is not an easy fix, but it is possible. Take the time to think about what you can do to show employees that they matter and their opinions are valued. You should also communicate your dedication to employees’ development and growth, so they know that you are invested in them.
Take the time to review internal policies, including performance management systems, training programs or any other initiatives that are being offered. For example, you might find that special training programs are available to help high performers achieve even greater results. If this sounds like something you’d be interested in, get your hands on these training opportunities to see how they can benefit your employees. You might be surprised at the difference it could make.
In addition to reviewing policies and initiatives, you should walk around and talk to employees to see what’s going well and where there may need to be some changes. The information you will gather from these conversations will be invaluable, and you’ll get a sense of where the challenges are.
Employee retention is one of your top priorities, but it’s also critical for everyone’s success. If employees aren’t happy, they won’t perform to their full potential and this can make things difficult for business operations.
The more you value employees by empowering them with enough autonomy and an environment that fulfills their needs, the more they will reciprocate and perform to a higher degree of success.
Take some time to think about what you can do differently in your organization. Employees’ health, happiness, and development are critical for workplace success; it’s not just about finances or your bottom line.
Good luck!
Sincerely,
Jenny