Have you heard of the ‘Great Resignation’? Perhaps you’ve never heard of the term but you’ve felt its impact? The ‘Great Resignation’ has cast its net over many industries; from retail, manufacturing, and construction, to technology, and logistics. Very few organisations have escaped its grasp.
If you’ve been impacted by the ‘Great Resignation’, contact our specialist team here at Amberjack via the form, to see how we can help!
What is the ‘Great Resignation’?
The ‘Great Resignation’, named so by psychologist Dr Anthony Klotz, is the trend of increasing numbers of staff members looking to change roles and pursue different careers or priorities.
Motivated by the pandemic and other recent economic hardships, such as the impact of Brexit, many workers have re-evaluated their values and what they want from a job. At-home working, changing life circumstances, and burnout, have all played their part in this next upwards struggle in a series of mountains that organisations have to conquer.
UK based research by Personio, an HR software company, found that 38% of employees are looking to change roles in the next 6-12 months, and 45% of HR decision makers are worried about staff leaving. They also found that there is a disconnect between why employees are leaving organisations, and why decision makers THINK employees are leaving.
The world is changing rapidly, and employees have chosen their side. More often than not, their values and wishes are linked with happiness, work-life balance, and an inclusive and friendly workplace. This has given way to an increase in phenomena such as ‘turnover contagion’ and mass departures, whereby multiple employees react to a change adversely. When one staff member leaves, there can be a strong psychological effect motivating others to leave too; their peers begin to reflect on their own position and how a change of job could benefit them as well.
This anecdotal evidence of the ‘Great Resignation’ is supported by industry facts and figures. In May 2021, reed.co.uk experienced over 275,000 job postings, the highest monthly amount since before the financial crash in 2008. This increased again to 325,000 in July, with similar numbers in August.
The Office for National Statistics also highlights the current turbulent reality, with vacancies in July to September 2021 at a record high of 1,102,000 vacancies, the highest level since their records began.
What is the impact of the ‘Great Resignation’?
Organisations of all sizes and industries are being effected. As the world recovers from the Covid-19 pandemic and consumption demands increase, organisations are seeing their expansion plans and growth slow down. Less people are having to take on more responsibilities, and this frustrates customers and clients just as much as staff.
Record high vacancies have left organisations with skills and knowledge gaps, and when combined with the disruptions to the supply of workers coming into the country, these gaps can seem more like cliff edges. Especially when these vacancies occur in critical positions
How to overcome the ‘Great Resignation’
The ‘Great Resignation’ might seem insurmountable, but it is not impossible to overcome. There are multiple things to consider that might help you and your company retain staff, prevent ‘turnover contagion’, and attract new employees too!
Keeping your employees
Keeping your staff members in the current climate is a rational concern, but there are some straightforward ways to help improve your staff retention.
- Support staff from the very start. Empowering and engaging incoming employees is crucial; onboarding is one of the first touchpoints in building loyalty with new joiners. Software like Ambertrack allows your future talent to connect and build community before they begin, while allowing you to seamlessly share induction and starter information. The process should be as smooth as possible for all involved.
- Provide a good employee experience. Company culture, workplace environment, and fair treatment, is one of the most, if not the most, important factors in keeping your staff. They want to feel valued, appreciated, and respected, so it is key that your organisation exudes support and empathy at all opportunities.
- Provide opportunities for growth and development. Employees want to know that there is the potential to progress in your organisation; 70% of employed adults consider development opportunities within a company when applying for jobs.
Attracting new employees
Attraction and engagement can be a daunting task for any organisation, but it doesn’t have to be. Methods to help you find your future talent and make the whole process easier, do exist.
- Hire the right people. First and foremost, when embarking on your next recruitment journey, it is important to consider how to find, engage, and hire, the right people. Amberjack attraction and engagement tools, such as Match-me, which provides candidates with insights into your organisation and job roles, can help direct your applicants towards the right opportunities.
- Provide a good candidate experience. The candidate experience that you give your applicants can be a make-or-break factor in recruiting people with the skills you want. It’s important to get it right, and instill a sense of loyalty. This can be achieved by not over-complicating the process, communicating effectively, and more.
- Hire future talent. Graduates, interns, apprentices, and other entry-level talent, can provide ample opportunity for you to fill the skills gap in your organisation. Entry-level employees are your learners, your fresh ideas, and your future specialists. They are keen to grow and develop in their roles. Their enthusiasm for advancing themselves and the organisations they work for is clear; reed.co.uk found that 18-34 year-olds are most likely to be influenced into staying with an organisation with the potential for promotion. Entry-level candidates are hard workers.
You’ve probably heard a lot about the ‘Great Resignation’ and the negative impacts it could have, but let us be the barer of good news – it doesn’t have to be that way. If you think your organisation could benefit from Amberjack’s help, don’t hesitate explore our technology and services, or contact us via the form on this page.