You've probably heard about the terms related to employee turnover like “Great Resignation”, the “Big Quit”, and the “Workforce Exodus” in the past years.
In the years during and following the pandemic, millions of people around the world have taken their time to re-evaluate their working lives - and quit their jobs.
Companies are left wondering: where did all the workers leave?
The majority of job quitters are moving from one job to another, so-called “job-to-job moves”. Some retire early, others start something for their own.
What are the main reasons for these pandemic-era job movers?
- More meaningful and motivating work
- Improved work-life balance
- Better benefits
- More flexibility
- Higher pay elsewhere
As you can see, company culture actually has a huge role to play in this drama.
Organizations can do more than just increase the numbers on the payslips, in order to motivate people to stick around.
Nobody wants to feel unappreciated at work.
However, in the US alone, there are roughly 4 million fewer workers than before the pandemic. Companies are forced to recruit more people, faster, and get them up to speed at a higher pace than ever before.
Let’s have a look at what companies can do to cope with “the great resignation” in order to onboard new and seasonal employees as fast as possible - and retain existing team members.
Train for evolving operational knowledge.Companies across the board should be asking:
"What motivates you to do a great job other than payslip?"
Make sure that onboarding of new, seasonal, and temporary recruits is smooth, with clear processes and procedures that are easy to access. The key is to get new employees up to speed on their own as fast as possible - without compromising on output.
Offer effortless on-the-job training of existing employees with digital work instructions. It’s dangerous to solemnly rely on the skills of one person. Prioritize skills transfer and development of all team members.
High employee turnover rates also mean that a lot of valuable operational knowledge is leaving companies. This is such a waste and should be prevented. Make sure to continuously capture the knowledge of existing team members - before they leave.
- Value feedback and improvement suggestions from all team members. Foster a culture of continuous improvement and your processes will evolve for the better.
Motivate the frontline.
Encourage teamwork - collaboration fosters a sense of belonging and improves motivation.
Involve all team members in the shaping of processes. When we feel that we have an impact on our work, our jobs become more meaningful and motivating.
Set up a joint strategy on how to crowdsource knowledge, ideas, and best practices from a diverse group of employees. These subject-matter experts will drive the initiative and make sure that it evolves and improves over time.
Companies rely on their team members in order to build resilience in an unpredictable market. In order to attract and retain frontline talent, companies need to appreciate their expertise more. In short: by listening to frontline teams and their initiatives, companies have a higher chance of keeping them.
Read more about how to appreciate and motivate frontline teams: