Employee retention is of utmost importance right now. Despite how comfortable you think your employees might be, the fact of the matter is, most employees are open to exploring new opportunities, especially if approached, just in case there is a better fit out there. It’s critical to stay connected to your people to find out if they are truly happy. Talk to your employees about their work-life balance, and overall satisfaction with the company. Through conversation, you might be surprised to find out that there are gaps that can be addressed to make them happier at work. If you make these changes where you can, your employees will work for you because they want to, not because they have to.
As we all know, the COVID-19 pandemic unexpectedly changed the way people live and work across the globe, and Canada is certainly no exception. Many people have had to either transition to working from home part time (or sometimes fulltime) and countless others have had to deal with unexpected layoffs as a result of the pandemic. During this unprecedented time, many individuals have re-evaluated their priorities in life and passions at work, resulting in mass resignations across the country. Now we find ourselves facing “The Great Resignation” – a term coined by Mays Business School Professor of Management Anthony Klotz.
“The Great Resignation” is a term that represents the trend where many employees are voluntarily resigning from their current positions as a result of impacts the COVID-19 pandemic has had on their jobs. Such impacts can include companies not adapting to new norms and safety regulations (such as employees having the ability to work from home, or taking additional sick days as needed, etc.). These mass resignations have resulted in many companies scrambling to find new employees, ultimately putting the candidates in the driver’s seat during the hiring process. This drastic change allows for the candidate to be more selective throughout their job search as they are the ones to deem an employer worthy of their skills and time rather than the other way around. Let’s discuss ways in which companies can make themselves an “Employer of Choice”, allowing them to successfully navigate through this time known as “The Great Resignation.”
Conversation is Key
Flexible Work Environment
The past few years have shown us that flexibility is incredibly important. Being flexible and allowing your employees to work when and where they can is essential. A great example of flexibility you can consider offering to your employees is letting them work from home instead of enforcing a 9-5 presence at the office. This will alleviate any extra stress your employees might be facing, which will benefit you in the long run. Having these additional benefits will also make you an employer of choice, which gives future candidates an extra reason to want to work for you!
Be Competitive
When it does come time to hire additional employees, make sure that you are putting your best foot forward when making your offer. Now more than ever, employees have the upper hand in the job market. If you want to secure a potential candidate, be sure not to low-ball them! Do your research to find out what, on average, your competitors pay their employees for similar roles. Be competitive and offer a strong compensation package that includes a base salary at or above market value with a comprehensive benefits package. Give candidates a reason to want to work for you!
During “The Great Resignation”, it is critical to make sure your employees are happy so that they want to work for you. Be flexible and pay your employees well and you’re sure to keep them around!
Do you have any additional tips for how to navigate “The Great Resignation”? If so, email them to us at info@cormackrecruitment.com. We will feature them on our social media channels and give you a tag!
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