How not to be victim of the great resignation and how to retain your team.
Lonergan Research in 2021 identified that 43% of Australian workers would be actively searching for a new job in 2022 (1).
It appears the great resignation is not motivated by the need to exit the rat race and live in remote communities. There is no evidence of a wave of people wanting to leave the workforce; they are fundamentally just not happy with their employer.
What is making employees discontent?
- 41% said they felt overwhelmed with the amount of work they had to do (2).
- 53% said they are fairly remunerated for their work (3)
- 51% feel recognised for their contributions (4)
Therefore 47% potentially do not feel fairly remunerated for their work and 49% do not feel recognised for their contributions.
How not to be a victim of the Great Resignation
A review of over 70 research papers explored the effects of perceived organisational support. Perceived organisational support is an employee’s impression that their contribution is valued and the organisation they work for cares about their well-being.
When employee’s feel supported the results are:
- An increased commitment to the organisation.
- An increased performance and a decrease in work absence and lateness.
- An increase job satisfaction, and a more positive mood
- A decrease in psychological strain, meaning they show fewer symptoms of fatigue, burnout, anxiety, and headaches.
Step One for all businesses
Follow some sage advice
“To win in the marketplace you must first win in the workplace.” – Doug Conant, CEO of Campbell’s Soup
“Always treat your employees exactly as you want them to treat your best customers.” – Stephen R. Covey
Have a regular chat with your employees, make sure they know you genuinely appreciate them.
Look for ways you can make their lives easier, for example flexible working hours, reward good performance and address organisational politics and self-interested behaviour.
For more insights how to not be a victim of the great resignation visit www.profitablepersonnel.com
For our free career development coaching course ring David on 0428 780 859.
(1) ELMO Employee Sentiment Index_2021 in Review_Australia.pdf p8
(2) ELMO Employee Sentiment Index_2021 in Review_Australia.pdf p8
(3) ELMO Employee Sentiment Index_2021 in Review_Australia.pdf p8
(4) ELMO Employee Sentiment Index_2021 in Review_Australia.pdf p8
(5) What is the effect of an employer being supportive, valuing and caring for their employees? https://www.rtwknowledge.org/article_print.php?article_id=192
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