For anyone who doubted, the data is in. The Great Resignation is real and it’s happening. The U.S. Department of Labor reports that during the months of April, May, and June 2021 a total of 11.5 million workers quit their jobs. And it’s not over. According to Gallup research, 48 percent of employees are actively looking to make a change, and according to Personio research, nearly 1:4 will do so in the next six months. Those looking for new opportunities will find ripe opportunities; in June the U.S. hit an all-time high of 10.1 million job openings.
What does this all mean to your organization? You are likely juggling two pressing needs: hiring to backfill people who have left and hiring new people to support business growth. The scarcity is real — too few people for too many jobs. The imbalance of this supply-demand highlights more than ever that productivity is about people.
The best way to stabilize your business is to stem the tsunami of attrition and increase your retention. In the frantic need to hire more people, the group we often forget to attend to are the folks who stay — those showing up day-in and day-out shouldering the work that needs to get done. Think about what these people — the ones who are here, working for and with you — need now. The short answer is they need to be seen for who they are and what they are contributing. It’s your job as the leader to make sure they’re getting the recognition they deserve.
And we get it: As employers, leaders, managers, and HR professionals, you’ve been dealing with a lot of uncertainty and change. You have a lot on your plate. Not having the right people in the right quantities in the right seats to get the work done creates a hamster-wheel effect — you keep running, faster and faster, exhausted with forces outside your control. So let’s control what you can control, and that is you. If you want to stem the rate of turnover in your organization or team, you must look inside yourself and decide what is possible. So, let’s stick our finger in that proverbial hamster wheel and make it stop for a minute. Let’s pause and see what is possible, what you can do to make a difference.
Here are four steps leaders can take now to best navigate the Great Resignation. READ MORE
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