One in five workers is “likely to switch to a new employer”, according to PricewaterhouseCoopers (PwC). And Gen Z workers are leading the charge.
When it comes to the ongoing trend of switching jobs, most of the 52,000 survey participants said that besides fair pay, feeling fulfilled at work and having the freedom to “truly be themselves” are the most important factors.
The reason behind this trend is simple: The labor market is changing, and employers need to adapt.
Do you have the right people in leadership roles?
Not having the right leaders at the right places can be “damaging”, especially in hybrid environments. Organizations must be equipped with managers who can inspire and lead with compassion.
Hybrid environments tend to be more complex and dynamic than traditional ones, so it’s vital that your team has leaders who are equipped with the skills and mindset to lead effectively in these conditions.
Leaders set the tone for everything that happens within their teams, and they make sure that everyone is on the same page. In hybrid environments, where employees are working remotely or working across multiple locations and time zones, it’s even more critical to have leaders who understand how to work with people from different backgrounds.
Is your work environment transactional?
Raising wages is no longer enough to keep the staff from quitting or switching to a competitor. Executives must instead ensure that employee benefits are still aligned with their teams’ priorities. Demands for family care are one of the factors in the decision to switch jobs. Expanding healthcare benefits may then be an improvement organization can take to ensure retention.
Aside from healthcare benefits, employees want to feel respected and valued. When people are treated as if they’re just another cog in the machine, they can feel like they don’t have a voice and just go along with whatever happens around them. This can lead to an unhappy, unproductive workforce.
People want to know that their contributions matter, that what they do is meaningful and helps make their organization successful. They want opportunities for growth and advancement, so they can grow as individuals as well as professionals. And they want to feel like they’re part of something bigger than themselves—something with meaning outside of their job description.
What’s at stake for companies?
Unless employers start investing more time and resources into employee engagement programs, there will be even more talent out there looking for jobs elsewhere. employers’ failure to invest in a more fulfilling employee experience is costing them their business.
Employees are the backbone of a company. Without their efforts, the company would not be able to function properly. They are responsible for carrying out all day-to-day tasks that keep the business running smoothly. This means that if they don’t feel valued by their employer, they may look for other employment opportunities where they will be appreciated and rewarded for their hard work and loyalty.
You can’t afford to lose good employees because it’s expensive! If you want to keep them happy and engaged with your company, then you need to invest in an employee engagement program that meets their needs and interests while also making sure they feel appreciated by both management and fellow employees alike.
Turning the trend of misalignment into a great opportunity
Every crisis is an opportunity to make changes. There is an evident need for organizations to take reflective steps to ensure their business survives future headwinds.
These points also highlight the importance of collaborating with employees. Letting employees speak and listen to them intently can be beneficial learning experiences for both employer and employee. And by understanding each employee and their individual needs, organizations can determine the specific steps they must take to turn the Great Resignation into an opportunity for transformational change.