It’s no secret that finding and maintaining talent today is more difficult than ever before. With a Microsoft study showing that 40% of the workforce is considering leaving their current employer within the year, it’s now more important than ever for businesses to focus on what actions they can take to keep their workforce happy and engaged.
With that in mind, we have compiled our first-ever survival guide: Surviving the “Great Resignation”. We have done our research and gathered best practices that you should follow in order to make it through Great Resignation, and come out the other side as a stronger business.
Develop and Maintain a Corporate Culture
If your company does not have a corporate culture, it’s extremely difficult for your employees to feel as though they are truly a part of your company. This not only increases their uncertainty when it comes to their future at your company, but it also prevents them from creating genuine connections that help your business thrive. Furthermore, your corporate culture is the single most important factor your employees use to determine if they like or dislike their job, so this is definitely something that needs to be addressed as a business owner.
How can you address this? I’m glad you asked. There are many things that you can do as an employer, but I’m going to only name a few, such as:
- Encourage your employees to reach out for help and take initiative as their employer to make sure they are well supported. Employee burnout is a real issue, and with extremely slow hiring cycles due to labour shortages, the burden falls heavily on existing employees. It’s up to employers to break the cycle and set expectations from the start. You can do this by setting hard times for employees to work and encouraging them to step away from all work-related matters after a certain time. Whatever you choose to do, your intention needs to be genuine – corporate policy is one thing; culture and action is another.
- Recognize your employees for their contributions. Although you might not be able to physically see them, the recognition they receive will help them feel like a valued member of the team and encourage them to stay.
- Finally, and the most important one in my opinion, trust your employees. Given the lack of transparency during work hours, it’s important that you trust that your employees are doing their work to the best of their abilities. If you micro-manage them, they will feel like you can’t trust them or their judgment.
If you follow these steps and feel like there are no significant changes, the best thing to do is ask your employees instead of guessing what they would like. This way, you can collect feedback and gain a genuine understanding of their thought process, which can then help you develop new ways to connect with them! Free tools you can use to facilitate this:
- Google Forms
- Survey Monkey
- Microsoft Teams/Yammer
Ensure Wages are Competitive
Compensation is a huge factor driving the large labour shortage. Unfortunately, employers who were underpaying their employees saw the largest departures of talent. Training a new employee is much costlier than retaining an existing employee, and if employees do not feel properly compensated, they will find a place where they are.
Salary is the obvious form of compensation, but in reality, it is just one part of the picture. Employees appreciate an employer with a strong benefits package, both health and personal, as it gives them confidence that their employer is there to make sure that the overall wellbeing of their employees is a priority for them too.
Finally, WFH (working from home), is a big bonus. Employers were terrified pre-pandemic, to let their employees WFH because they couldn’t monitor their employees’ work. This; however, has proved to be a large nonworking with WFH not only boosting productivity, but also adding the benefit of allowing people to adjust their schedules based on their individual circumstances. Whether you have appointments, children, or activities, WFH allows you to not only be productive but allows a flexible schedule. And don’t even get me started on the commute…
Outsource Back Office Positions
As mentioned, with the increasing amount of employee turnovers, it’s hard enough to keep revenue-generating positions staffed. This is a great opportunity for employers to revisit their business model and truly embrace the change. The world as we knew it will never be the same, and that isn’t necessarily a bad thing. With increasing advancements in technology and culture, change is inevitable and it is up to us to ensure that the changes positively impact our business and our employees.
Back office tasks are often jobs that do not need to be in-house and employers can take great advantage of outsourcing. Outsourcing often gets a bad reputation because it is closely associated with hiring employees internationally for a fraction of the cost, but this is not always the case. There are advantages to both hiring locally and internationally, but sometimes, hiring locally is what you feel is best for your business. This is where a company like RingRang can change your business!
RingRang is proud to say that we hire locally and internationally. Many companies want to hire a receptionist but cannot always afford them, but we make this a very affordable option all without sacrificing the quality of employees. RingRang acts as an extension of your business and makes sure that all your calls are answered with a smile. If that wasn’t enough to convince you, you can try us out for free and we would be happy to help!