As Americans plan for life post-pandemic and adjust to the ever-changing workplace policies and expectations, companies are experiencing a mass exodus of employees, being dubbed 'The Great Resignation'.
A news report from NPR shared, “As pandemic life recedes in the U.S., people are leaving their jobs in search of more money, more flexibility and more happiness. Many are rethinking what work means to them, how they are valued, and how they spend their time. It's leading to a dramatic increase in resignations — a record 4 million people quit their jobs in April alone, according to the Labor Department.”
According to a recent SHRM survey, more than 40% of U.S. workers are actively searching for a new job right now, or plan to soon.
The survey found the most common reasons for leaving include:
- Better compensation (cited by 53 percent of respondents). More pay enables people to do the things they love outside of work, Alonso said.
- Better work/life balance (42 percent). This option specifically excluded remote work, which is only available to 47 percent of the workforce, Alonso noted.
- Better benefits (36 percent).
- Career advancement opportunities (33 percent).
- Desire to make a career change (33 percent). This is "COVID clarity," Alonso noted, explaining that some people became more aware of what they really want out of a job and in their lives as a result of the pandemic.
“Fostering a workplace that celebrates and supports people is the foundational element for companies that will retain great people and attract new ones. It’s also a sustainable business model, as relationships don’t erode when people leave and life-long relationships are allowed to flourish,” shares Michael McFall with Forbes.
Companies that want to reduce turnover and increase engagement must foster a culture that values employees and shows a genuine interest in their professional and personal growth goals and life challenges. When managers communicate with employees regularly and recognize they live one life, not two, engagement and motivation increase.
According to Gallup, “Employees who strongly agree that their managers helped them set performance goals are 69% more engaged compared to employees who did not have managers help them.”
Truvelop provides a comprehensive tool for engaging employees and teams and fostering ongoing communication that can help managers better understand their employees’ challenges, help employees set goals, and recognize employee/team successes.
Contact us today to learn more about our modern approach to performance management and development that actually improves the manager and employee relationship. Don’t just take our word for it, see what our Customers have to say.