All of us are aware of the significant level of turnover and hiring shortages that have occurred after the onset of the COVID-19 pandemic. Now that many employers are looking to bring staff back up to profitable levels, the employees are nowhere to be found. What’s going on?
Here’s some thoughts on why we can’t find the staff we need:
Grass looks greener – Employees may have left the organization if they feel they were not appreciated enough during the lockdown. Some employees jumped ship when enticed by another job with more money and flexible work schedules.
Retirement sounded like a good idea – During the pandemic many employees thought they did not want to work in a dangerous, infectious environment. Now, some realize that life is pretty boring at home all of the time.
How many of your peer companies have found that a segment of the employees who have left their jobs are now reconsidering and would like to get back to their former roles? Or these employees at least want to re-engage with the workplace, co-workers and key initiatives within their organizations. This trend could be called the Boomerang Factor.
Turnover is expensive – The company not only loses the knowledge that is walking out the door, but also a) downtime b) hiring costs (advertisement, interview time, screening, drug test) andc) inflated salaries to hire up are real stresses to your bottom line.
Meanwhile, some people who are working from home are finding downsides.
Work-life balance – Some who are working at home are finding that the work life-balance isn’t any better, stating that they are never able to step away from their jobs since they are called upon anytime day or night since they have the resources available to them all the time.
Staying at home means no promotions – Sorry to say, but if your boss doesn’t know what you are doing all day, he or she may have a tough time recommending you for a larger role. Particularly, if you don’t want to come into the office.
What to do about your current staff?
It has long been documented that an engaged employee is much more productive and willing to give that extra effort for the overall good of the company. Here are some ideas to avoid your employees leaving the company and ways to keep them engaged, involved, and appreciated:
Sponsor interactive, fun events at the office. For example, a trivia contest, product demonstration, or entertaining speaker can get the staff reacquainted with the individuals on their teams.
Managers conduct regular, meaningful conversations with the people on their teams. The trend for performance reviews has been to get away from just one or two sessions a year to regular discussions of goals and performance. Show the people on your team that you really care about them and care about their success. Schedule bi-weekly meetings and ensure those conversations actually take place.
Conduct information-sharing sessions regarding the direction of the company. Have your employees hear about activities in key areas of the company so they have a better understanding of the workings of the organization. Many times, employees only know the small part of what they do on a day-to-day basis. It is very motivating and energizing for each employee to know how what they do adds value to the overall success of the company.
Respect and show appreciation for specific accomplishments when they occur. Whether it is an individual or a team, it is management’s responsibility to celebrate the successes to show gratitude for a job well done.
There are a wide variety of other strategies you can use to help retain talent. Turnover is costly, retention of staff is a way to keep morale up and avoid a boomerang or, worse yet, an avalanche of people leaving the organization. Toss around ideas with your staff and ask them what they feel would be motivating. You might be really surprised to hear what your staff has to say.