The Great Resignation is coming, and is your company prepared? Will you be the ones receiving applications from innovative, talented individuals or will you find yourself on the receiving end of the exodus? To understand which side of the spectrum your company will land, it is key to understand the sentiment of your employees (both current & potential).
Do you have a finger on the pulse of the people?
Companies often make the mistake of catering to what they think are the latest trends in attracting & maintaining talent. Very little effort is put into determining what actually makes a difference to employees. And why would there be? Up until recently, a majority of the workforce was tied to location based employment. You wanted to work for a good company, you had to go to them. Companies held the majority power in hiring.
But thanks to a pandemic the world of the workforce has opened up. The concept of location-based employment has been challenged with the success of remote & hybrid work being proven. Now, according to the Gartner Survey, 47% of company leaders are planning to make remote work a full-time option within their companies and 80% are offering a similar home/office blend. Major global companies are breaking down the barriers to recruitment, and offering the key incentives beyond “M&Ms in the break room” needed to attract & maintain talent from all over the world. The hiring power is finally shifting from companies to people, and the people know it.
So how do you know you are in a position to attract & maintain the diverse talent you want? How do you know your business will grow and thrive with innovative people at the core?
You ask them.
Think of your company like your product, and the customers are your potential & current employees. Are they happy? What are you offering them that provides real value? What can you provide that your competitors can’t? These are the questions you should start asking to avoid a Great Resignation within your company.
If you haven’t already invested in an Employee Experience team, I would recommend doing so before it is too late. Gather both qualitative & quantitative data, create feedback loops that are actionable, and start making real improvements to your company based on the feedback from your people. And even if you are in a place where your company feels solid, make this investment because others will soon catch-up.