The global job market has been increasingly volatile over recent years and the Covid-19 pandemic has added to this volatility due to radically different employee expectations. As a result, experts are predicting a tidal wave of resignations.
Why are so many people quitting their jobs?
So, what are the key drivers of this inevitable increase in voluntary staff turnover?
- Pandemic burnout – stress and uncertainty about job security and a sense of isolation leading to feeling disconnected from company culture and values.
- Re-evaluated priorities – a year or more of not being able to lead a ‘normal’ life has created a determination for many to change things for the better rather than just ‘wait and see’, often moving to an entirely new career.
- A taste for work / life balance – working from home has provided greater flexibility and freedom. Many will never go back to working in an office full time.
- De-motivated and undervalued by managers – feeling valued, supported and worthy is more important than money.
- Lack of growth – due to lack of engagement from managers about learning and career opportunity, many (particularly Gen Z) are driving their own growth via an increased availability of online learning resources.
- Zoom / Teams demands – increased online meetings and a feeling that there is little separation between work and home has often led to longer working hours.
- Financial independence – increased savings due to reduced expenditure on the daily commute and our social lives has given greater freedom to move jobs.
What can leaders and managers do to lessen the likelihood of this mass migration?
Provide clarity around the culture and values of the organisation to promote a sense of belonging.
- Have regular 1-to-1’s with staff to check they’re okay.
- Meet up for a coffee rather than just chat via Zoom or Teams.
- Praise and recognise – make your staff feel valued.
- Give them a reason to come into the office, don’t just mandate it – make it attractive (maybe even enjoyable!).
- Agree a ‘hybrid working’ model that suits you and your staff and be clear about how it will work.
- Conduct and analyse exit interviews and act on the results.
Effective leaders create a positive working environment where people ‘want to’ stay.
You need to ask yourself, what does it feel like working for you?
Written by David Ross – Learning & Development Consultant