The Great Resignation

Since Covid struck many organisations have had to change processes drastically, causing many to go into ‘crisis mode’. If employees have not been prioritised during this time of business protection, companies could be heading towards a mass talent exodus, reduced productivity and a damaged employer reputation.

Why?

The pandemic has allowed people to reflect on their careers, hopes and aspirations. For many this has resulted in a shift in priorities…

Some people now want flexible and more remote working, some want to change career paths entirely, some want to move abroad and others have realised how much the office atmosphere was affecting their mental health. There have been reports that people feel more secure in freelance positions. Working for multiple companies rather than relying on one employer where they could be made redundant or let go at any point. If employees haven’t felt supported or heard, or have received a lack of communication, a higher workload or increased stress during this period of uncertainty, there is a high chance they will be looking for a new employer where they feel valued… and that time is now! As restrictions are lifting, people are starting to feel more secure and are ready to change employers. In a recent Microsoft report, it was highlighted that 54% of Generation Z workers and 41% of the entire global workforce could be considering handing in their resignation.

HR’s role

The HR software company, Personio, recently released a report which uncovered that 39% of HR decision makers don’t cite people strategy as a top priority at their business. This is a concerning statistic given the need for nurturing talent in order to retain employees, increase productivity and ultimately, develop a business.

From Halian’s recent survey (sent to our database of over 1,000 HR professionals), we discovered that the most important factors when looking for a new role are the following (in order of importance):

1. Opportunity to work on diverse projects
2. Good team culture
3. Ethical & honest employer / Paid vacation days

The importance of creating a supportive work environment and inclusive culture cannot be overlooked if businesses want to attract and retain top talent.

If it isn’t already, a business’s people strategy needs to be a focus for HR teams to avoid “the great resignation”. For businesses that have neglected this during the pandemic, there is still time to resolve issues. Take a strategic approach to people management; communicate, listen and make change.

It is crucial HR teams work on people to ensure staff feel valued, supported and secure within their role and business.