How To Survive The Great Resignation

As if the tech talent crisis wasn’t enough, now companies are facing down a new threat: ‘The Great Resignation’.

If you haven’t heard of this phenomenon, it’s a cultural moment where employees have been quitting their jobs in droves. Many have reflected on their experience of work during the pandemic and sought better opportunities, whether that’s for work/life balance, career progression or just better compensation. Moreover, Harvard Business Review highlighted that resignations are highest in tech. For a sector already battling the talent ‘war’ this is worrying.

So how can companies survive the Great Resignation?

Listen to your employees

Whether you are already seeing employees leave or you want to proactively head this off, the first step is to listen to employees. Gather feedback from current employees and those who have recently left – make it anonymous and create a safe space for them to give their opinions. Make sure you are asking the right questions to really get to the bottom of how your employees are feeling. You might want to consider a third party to do this so that the process is completely transparent.

For former staff, it’s important to understand their motivations for leaving. Naturally people leave but it may point to issues that could be addressed.

When you have the employee feedback, pay attention to it. Don’t dismiss something just because you don’t agree with it. Review what your current and former staff have to say with an open mind.

Take action

Based on what your employees have said you now need to take action to help prevent attrition. Use the feedback you have received to highlight areas which can be improved.

A recent Momentive study highlighted that the top reasons for employees leaving were:

·      Work Stress – 46%

·      Career advancement/change – 37%

·      Compensation and benefits – 35%

If these reasons resonate with your feedback, then consider what you can sustainably do to address them, whether that’s looking at support systems for managing workload, implementing a career development strategy for employees, or reflecting on your compensation packages. Not only will this help retain current staff, but improving the work environment, culture and benefits will help attract new hires too.

Boost inclusion and engagement

Organizations that lead in diversity and inclusion also boast higher staff retention. This is because companies with cultures that promote inclusion foster a sense of belonging and help to make staff feel supported. Hand in hand with this is employee engagement – which is how connected and invested employees feel in their organization. Engaging employees is about more than offering quirky office perks. It’s about building a culture where staff are motivated, optimistic and passionate about what they are doing. Moreover, happy staff are more likely to refer others or share positive reviews and be ambassadors for your company.

Be flexible in the return to the ‘new normal’

The main motivator of the great resignation appears to come from reflecting on work post-covid. Many people relished the opportunity to work from home, the increased flexibility and better work life balance. Consider what working practices you are bringing back as we return to the office and consider how you can offer the flexibility that will help retain your current staff and attract candidates.

Upskill staff

Giving current staff the training and opportunity to upskill will help you to foster the internal talent, fill skills gaps and offer your staff career progression. You could also consider whether you have capacity to hire new graduates or apprentices and train them to develop the next generation of tech talent.

Engtal specializes in supporting the world’s most innovative organizations, from seed-level start ups to multi-national enterprises, to find their most important asset – their people. Our specialist consultants understand their clients' specific challenges to attract, hire and retain technology and engineering professionals. Get in touch today to find out how Engtal can help you find the talent you need to grow and scale your business.