Retention During the Great Resignation

This month’s Leadership Insight discusses a current event – The Great Resignation. Millions of Americans have left their jobs during the pandemic, which begs the question: What’s driven this exodus?

Experts at Visier took a deep dive into this topic, analyzing more than 9 million employee records from 4,000 companies. They suggested that major causes range from cancellations of school and daycare services to burnout in industries such as healthcare to moves to new positions made by mid-career professionals. And then there are those who retired early, realizing that the hectic pace they were keeping or the cultures they were working in were not where they wanted to be anymore. 

How does this relate to you as a leader?  If you are struggling with resignations or with lack of employee engagement, or having a tough time recruiting, it’s important to quantify the scope of resignations at your firm. Then you can explore whether compensation, training opportunities, flexible working hours, or something else has nudged certain segments of employees to take the leap during a time of great uncertainty – and tailor retention programs to address these challenges.  

However, don’t overlook factors that may be less quantifiable, but no less important in helping to retain employees.

Culture Is Key

I’m among those who believe that culture is one of the most important drivers of recruitment and retention, especially during a crisis such as a pandemic. Embodied by the leaders of the organization, culture must be crystal clear and consistently acted upon – and not just be given lip service. 

Learn from other organizations such as Zappos or Southwest Airlines, which exemplify companies with strong cultures. At Southwest, for example, employees are encouraged and empowered to “go the extra mile” to make customers happy, which is why you won’t be surprised if you experience a joke-telling pilot or singing flight attendants!

And at Zappos, new employees undergo a “cultural fit” interview, which is heavily weighted in the hiring decision. In addition, there’s a budget line item for employee team building and culture promotion.

Here are a few other keys to a robust and resilient workplace culture.

1. Create a shared sense of purpose. Heath Slawner asks, “How many people inside of your company, today, right now, can articulate why your company exists beyond just making money?” If employees have a sense of why the company exists, where it is going, and how to get there, he says, people begin to gain a sense of fulfillment.
2. Make sure everyone matters, and know that they matter. Understanding your significance and feeling affirmed isn’t a luxury. It’s a core human need and motivator. As a next-generation leader, you can take steps to ensure that everyone – no matter their job title – feels valued and sees how they fit into the bigger picture.
3. Craft a culture of caring. Treating everyone with dignity and respect may seem particularly challenging for some – but it’s needed today more than ever. Adhere to this “old-fashioned” maxim: Treat every employee as you would your most valuable client. And ensure that your policies, practices, and benefits provide a tangible framework within which these qualities can reside.
4. Collaborate well. Slack has a company culture to match its popular collaboration hub. It fosters teamwork by encouraging employees to speak well and with purpose. In fact, continually improving communication is an expectation for employees. This company also promotes and celebrates diversity, recruiting individuals from diverse backgrounds and encouraging all to use their unique voices.

We are living through unprecedented times. Not only are many of us facing issues related to The Great Resignation, but we are also learning how to lead through a continuing pandemic. We’re here to help. Keep a look out for an extra bonus article this month, 6 Leadership Lessons from the Pandemic. 

Lead well,

Renee

We have a few seats available for our upcoming January 21-23 Inspire Leadership Training. If you would like a free consultation with Renee, sign up here.