Today’s employees don’t expect to work for the same company their entire career. That mindset actually changed some time ago. And now, since the onset of Covid-19, turnover rates have reached record highs – a trend labor analysts expect will continue for some time. According to one recent survey, one in four U.S. employees plan to leave their jobs as the pandemic subsides. This number jumps to one in three for those with children who have been remote learning and for millennials.
How to Get Past the Great Resignation
Employees are most likely to leave their current jobs for opportunities with better compensation and benefits or, increasingly, more work/life balance. But regardless of their reasons, there are steps you can take to retain your best performers even as Covid runs its course.
- Identify the employees you don’t want to lose. Sit down with them regularly and conduct stay interviews to make sure they’re satisfied or find out what needs to change if they aren’t. Then as Nike says, just do it.
- Have realistic job descriptions and give candidates a clear look at your company culture. Turnover tends to be high among new hires who find out that the job doesn’t meet their initial expectations. Before hiring someone, expose them to the worst parts of a job, such as a noisy factory or the craziest customer service times. Make sure they get the whole story. Don’t rush to hire the first decent prospect. A poor fit will negate that win.
- Develop a dynamic onboarding process. New employees have weak ties to your company, so it’s easier for them to leave. To retain them, help them quickly make friends and connections, and feel part of the team. Start onboarding them even before their first day at work, and keep at it until they’re truly ready to fly solo. One good tactic to employ is a buddy system, so they have a peer to turn to with questions or as a sounding board.
- Focus on ongoing mentoring and development. A step beyond a work buddy, a mentor can be a positive influence for the duration of a person’s career. As an added bonus, mentors as well as mentees can reap benefits from this relationship. Also, make development and advancement opportunities at your company crystal clear to new hires. And when the time comes, don’t skimp on or cancel them. Yes, it’s tempting to put a hold on training during crunch times. But that’s also not a good idea.
- Accommodate employees’ individual needs. It all comes back to work/life balance – whatever that looks like for a particular employee. Recognize that there is no one-size-fits-all model. Whether it’s extended PTO, a remote or hybrid work scenario, or flexible hours, do your best to make it possible. Remember, what matters in the end is getting the job done well and on deadline, not where or when hours are devoted to it.
Need HR Help to Thrive During Turbulent Times?
Do you need help stopping the flow of turnover at your company? Key HR can help with new and innovative talent acquisition, development, and retention strategies to keep your business on track, your productivity high, and your team members loyal and satisfied. Read our related posts or contact us today to learn more.
- Posted by
- On February 16, 2022
- 0 Comment