The headlines just keep coming about a phenomenon that’s being called “the Great Resignation.” A record number of Americans have been quitting their jobs. In August alone, the number was 4.3 million. With this trend showing no signs of reversing anytime soon, what can you do as a leader to retain employees in your organization?
Photo by Christina Morillo from Pexels
Why Are So Many People Quitting?
First, it’s important to understand what’s driving this wave of resignations. The reasons vary across different fields. But there are a few common themes among professionals:
Necessity. Childcare has long been expensive and, in some regions, scarce. But now the field is experiencing its own labor shortage, which makes it even harder for families to find workable options. As a result, some moms are forced out of the job market.
Burnout. According to the Women in the Workplace 2021 report from McKinsey & Company and Lean In, 42% of women often or almost always feel burned out.
Flexibility. Many of us got used to working from home and having more autonomy to control our own schedules during the pandemic. Now some professionals would rather quit than return to the office full time.
Changing values. The pandemic has made us take a new look at what’s really important to us. That’s led some people to shift their focus away from work and seek new careers that offer them more balance and meaning.
How to Improve Retention
So what should leaders do to retain employees amid these rapid changes in the work environment?
Adapt and evolve. We aren’t going “back to normal.” The pandemic-driven changes in how we work are here to stay. To retain employees (and recruit new ones), organizations must embrace this new reality and update their policies on things like flexible schedules and working from home.
Focus on results. As a leader, as much as you have autonomy to, emphasize outcomes instead of processes. In other words, evaluate your team members on what they accomplish vs. when or where they do their work.
Prioritize well-being. This was one of the three key recommendations from the Women in the Workplace report. Promoting well-being goes beyond offering flexible schedules. It also involves understanding what else employees really need to honor both their professional and personal priorities, whether that’s a childcare stipend or quarterly mental health days.
Collaborate, align and adjust. The solutions that will most improve retention are those that you develop with your employees to address both their needs and your organization’s. This isn’t a situation you can address once and then consider everything solved for good. Instead, check in with your team members regularly to see what’s changed for them and how their work arrangements need to change in response.
As you lead during these challenging times, products and services from Newberry Executive Solutions are a great way to support yourself and others. You can learn how to bring out the best in your team and stay centered yourself, even amid constant change.
Share Your Ideas
“One in three women says that they have considered downshifting their career or leaving the workforce this year, compared with one in four who said this a few months into the pandemic. Additionally, four in ten women have considered leaving their company or switching jobs—and high employee turnover in recent months suggests that many of them are following through. … The risk to women, and to the companies that depend on their contributions, remains very real.”
-Women in the Workplace 2021
How can companies hold on to their female employees? In an upcoming article, I’ll be sharing examples of strategies that work. And I’d love to hear from you about what’s happening at your organization. Drop by my LinkedIn page to share your ideas and join the discussion.