Why are Employees Quitting? 4 Ways Employers Can Retain Top Talent

It’s a whole new world post-Covid-19. The worst of the coronavirus tidal wave may have subsided, but its long-term effects aren’t likely to disappear any time soon. More and more, experts are no longer referring to it as a pandemic, but an endemic, meaning it will have implications on life, health, and work for some time to come.

The Great Resignation of 2021

Part of this Covid-19 fallout is the ongoing Great Resignation of 2021. The name is self-explanatory. According to recent research, as many as 25 percent of workers globally plan to leave their employers in the wake of coronavirus. And while there’s no panacea for retaining every one of your leading employees, you can make a strategic investment in your culture to incent more of them to stay. Here are four tips:

1. Provide more flexibility.

Give employees the work/life balance they need. Priorities shifted while people were sheltered at home. For many, it made them realize that life had been passing them by while they spent long hours in the office, day in and day out. This made them rethink what really mattered to them. Those 60-hour workweeks? No thank you. More quality time with loved ones? Yes, please.

• Continuing a trend that began even before coronavirus, recent research has shown that a growing number of workers would take a pay cut to work for a company that better aligned with what they want from an employer, including remote work options.
• As much as possible, offer flexible scheduling, the opportunity to work remotely, and paid time off. Your employees will thank you by staying loyal and staying put.

2. Offer more growth opportunities.

Clear pathways for career advancement incent employees to stay, as they feel a greater sense of accomplishment and ownership of their future success. This has been another growing priority during Covid-19 and its recovery period.

• Step up training and development initiatives, and enhance benefits like educational assistance and time off to take a course or go back to school.
• Promote from within. If a person’s next great job is within their current organization, there’s no need for them to seek greener pastures elsewhere.

3. Step up your recognition efforts.

During the Covid-19 lockdown, many employees reassessed how their companies treat them. And the need to be recognized and acknowledged is ingrained in human nature. It is time to prioritize your people.

• Reward and recognize people often and appropriately. Celebrate both small wins and major milestones, including birthdays, work anniversaries, accomplishments realized, and projects completed. Shore up your recognition program to encompass both individual and team efforts.

4. Stress your values.

In the course of Covid-19, people have come to focus more on quality of life and, as a result, are now seeking more meaningful work. They have a desire to be part of a company that truly cares not only for them but also for the community and the world at large.

• Promote your organization’s social awareness, status as a good corporate neighbor, and volunteer initiatives so employees feel that they – and you – are benefiting society at large.

Need Help Improving Your HR Processes?

Key HR can help you address employees’ needs in today’s changing world and evolving job market by improving your HR processes. Contact us today to learn more.