How to Improve Retention During The Great Reshuffle
The pandemic has changed not only the nature of work but also some people’s attitudes towards work. Many individuals decided to take time to reevaluate their careers and goals and worked actively towards achieving them. Employees are less likely to stay at a company where they do not feel valued. Work-life balance and professional development are popular reasons they are leaving or considering leaving their current roles. The Great Resignation has begun moving into what some denominate “The Great Reshuffle”. The Bureau of Labor statistics in 2021 showed 68.9 million people left their jobs, while there were 75.3 million total new hires. That means there was a 6.4 million employment gain. Increasing turnover drives up costs and affects productivity. However, positive, engaged leadership during this time can help reduce the effects of the "great reshuffle" and improve the engagement of their teams.
According to LinkedIn, individuals that listed “creator” in their job title increased by 40% from 2019. This shift reiterates employees’ and job candidates’ need to have a career that makes them feel connected and creative with room for learning and growth.
While many are reevaluating their careers, leadership opportunities within an organization can become an integral part of the solution. Leaders can make a difference in retention. Increased benefits, increased salaries, and a flexible schedule are all a part of the package, but it is the day-to-day interactions between the team and leaders that could make a major impact. To drive retention, leaders must become well-versed in key areas such as growth and career development, engagement, and motivation. All these areas require intentional and strategic partnership with HR.
Leaders who work with HR to create a culture of learning can empower their teams to innovate and grow. In addition, continued education is valued by many employees, so it is integral to consider creating opportunities to improve skills with new technology or classes. While a budget for development classes, certifications, or continuing education may dictate this process, setting a training program may assist in employees feeling valued, engaged, and committed to the success of the organization.
Leaders can avoid surprise resignations by holding regular employee conversations or “stay” interviews about individual goals and growth opportunities. Conversations that include measurable goals and identifying strengths will help build trust and increase communication.
Changing priorities and having a collaborative and respectful leadership style will propel teams to success. Driven, dedicated employees who feel valued and know they have options and support for advancement and fulfillment will not only stay at an organization but will thrive and outperform.
Reach out to Kiwi Partners HR Services to evaluate your leadership team’s comfort and understanding of engagement and retention practices.
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