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The ‘Great Resignation’ – Fact or fiction?
The ‘Great Resignation’ – Fact or fiction?
There has been much discussion recently on the ‘Great Resignation’. It has become the go-to reason for attrition, meaning critical employee data is not being captured and organisations run the risk of repeating the same patterns.
So…..is the ‘Great Resignation’ actually a current phenomenon? Or is it an easy excuse so we don’t have to look inwards to determine the real reasons for the current high attrition rates across many organisations? It is no secret that it is currently a job seekers market. Many roles are sitting for weeks or months without being filled. You would be hard pressed to find anyone in business without a first-hand story of being short staffed, or unable to fill a vacancy. However, is the ‘Great Resignation’ to blame?
Anecdotally I have found that many people want a sea change. The pandemic and lockdowns brought about a lot of change for most people. It is quite normal to reflect on where we are at. There has been an increase in the number of divorces and friendships and other relationships have broken down in higher numbers. We have a mental health crisis and yes, people are revaluating their jobs and lives in general and whether what they are doing makes them happy.
However, let’s also consider this. In a recent survey by Joblist in the US, they found that 26% of people who quit their jobs in the great resignation already regret it……meaning their needs are still not being met.
Furthermore, seek.com.au reports that the top 5 reasons people left their jobs in Australia in the past year were:
1. Mediocre management
2. No roads ahead
3. A fresh start
4. A bad environment
5. I’m worth more
I would challenge many organisations that most, if not all of the above reasons, are ones that can be addressed.
In determining the causes for your team resigning, exit interviews can be extremely beneficial in providing feedback for leadership and management teams, resulting in increased retention and employee engagement. These will provide insight and a deeper understanding of your workplace culture.
In addition, when team members feel valued, appreciated, and important, issues such as ‘no roads ahead’ or ‘a fresh start’ may not be overcome in all cases, however the numbers can certainly be minimised.
Organisations with an ongoing commitment to training and developing their team, complemented by robust systems and positive workplace culture have lower attrition rates and work more efficiently. Recruiting, inducting, and training new staff is expensive! It’s a far more commercially sound decision to look inwards and find out how to retain your current staff.
Exit interviews are just one strategy. Ideally, we want to support you to capture this data before your team members become disengaged and start looking elsewhere.
In the words of Richard Branson, “Train people well enough so they can leave, treat them well enough so they don’t want to”
Fact or fiction? We propose that it doesn’t matter. Your team is your organisation’s biggest asset and influencers of your brand.
A Targeted Training solution will assist you with ongoing training and development, organisational design and capability, practical HR skills, coaching and Myers Briggs Type Indicator personality profiling. We provide practical support and a common-sense approach to assist you in managing your people effectively for improved organisational performance. Call 1300 975 975 or email info@targetedtraining.com.au today and take action for your business.
References
https://www.foxbusiness.com/economy/great-resignation-far-from-over-study