How can your organisation reduce the impact of the ‘Great Resignation’?

We asked our Area Directors to tell us a little of how they are working with their clients.

1. Which are the factors that employees consider these days when accepting or not a job offer? Are salaries as important as before?
Salary is a necessity, a hygiene factor, especially with rising costs of living. People need to feel that the salary they are paid means they don’t feel undervalued and they can support a good quality of life outside work, but this is not the reason they join a company – or stay for that matter. High on the list is flexible and /or hybrid working. Most people have been working like this for two years and they have come to expect employers to trust them to do their work (almost) no matter where the location. Your company’s approach to flex working is also a great indicator of your culture – something that increasingly employees are assessing when choosing which employer they choose to work with.

2. Has there been a change in the amount and type of benefits that employees are demanding from their employers since the pandemic? If yes, why?

Employees want benefits that give them peace of mind but also make a difference to their lives. This is of course very different between individuals and what is important to them personally, so offering flexibility is again key to addressing the needs of different team members. In my experience, the amount of type of benefits employees are looking for has not changed since the pandemic but culture and work-life balance has become ever more important as people re-assess their priorities in life.

3. A lot has been said these days about the phenomenon of The Great Resignation. Why is it happening?

Because a lot of people who previously were on the treadmill of life have had a wake up call, whether they have had health issues, or the shift in working from home made them re-think whether they actually enjoy what they do and where they work.

4. What are the main challenges companies are facing these days when it comes to talent retention and recruitment?

The key to talent retention is to ensure you have great communication at all times, and yet this is one of the most common “areas to improve” when it comes to getting employee feedback. How often do you measure your company’s internal communications?

Understanding when your teams are becoming frustrated early on and why, gives employers an advantage to address any issues before they manifest into bigger problems. Just as employees should not be surprised when it comes to an appraisal, a manager should not be surprised when it comes to being handed a resignation letter. If they have had honest, open ‘stay conversations’ then there is a high chance they can avoid an exit conversation.

5. Which benefits should a company offer these days to attract talent?

There are the expected minimums to provide peace of mind, such as company sick pay, life insurance and possibly income protection or private healthcare, but extra holiday packages, funded personal development, a real focus on recognition of contribution and lifestyle benefits (gym memberships, shopping, restaurant discounts etc) are always appreciated.

6. What are the reasons that are preventing companies from offering more benefits to their employees? Is it related to the cost of implementing these benefits?

For any cost investment, a company needs to see that they will get a return and measuring ROI on employee benefits, retention and talent attraction has never been an exact science, so often it’s not clear to an employer what benefit they will get from investing in further benefits. The key goes back to communications and to ask their employees what they want; it’s no good introducing free gym membership, if employees would actually appreciate more holiday or their birthday off.

7. How do you predict the future of work will be?

Much more collaborative between employee and employer. I hope to see employers who had previously been apprehensive to allow much flexibility in work arrangements, to now realise the benefits of this for employee engagement – and actually how damaging it can be for employee morale to be seen to be going backwards. The employers who embrace the changes and reflect this in their culture for people to see and feel, will be the ones where employees want to work.

Our HR People are offering a complimentary 30 minute consultation to discuss your employee engagement needs or any other burning people issue that you’d like some fresh thinking on, please get in touch with one of our Highly Qualified Area Directors.

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