Reversing The Great Resignation And How To Really Retain Your Talent
The pandemic disrupted employees across all industries, and this led to many re-evaluating their boundaries and values when it came to their work. While there are many factors that triggered what we now know as the Great Resignation, many employees are no longer willing to settle for companies whose values don’t align with their own. In fact, two-thirds of employees’ values are now misaligned with their company’s values, according to the new playbook Consciously Unbiased released in partnership with Untapped AI called “Reversing The Great Resignation: Shifting Employee Values & How Leaders Can Close The Gap.”
It’s time to reevaluate how we support our talent. About 4.5 million Americans voluntarily left their jobs in January alone, according to the Bureau of Labor Statistics and its not stopping. A poll by ResumeBuilder.com found that one in four workers plan on quitting in 2022. So what can be done to support our employees? A 2019 Gallup study found that 52% of employees who voluntarily left their job say that their manager or company could have done something to prevent them from leaving, and 51% say neither their manager or any leader spoke to them about job satisfaction. Clear, open and honest communication is key for retaining talent. According to insights in our new playbook, 55% of American workers are more likely to quit if they don’t get the conditions they’re seeking — such as flexibility, autonomy, better pay, etc. (You can download the full playbook here.)
To get further insights on the trends driving the Great Resignation and what employees really need, I (virtually) sat down with Untapped AI leaders and other business leaders for a Consciously Unbiased LinkedIn Live conversation to discuss how we as leaders need to make our workplaces work for our employees and that our actions are not done only to ‘check a box.’ Here are some key takeaways.
What Inclusion Means At Work
“We asked them to describe inclusion. What does it look like? What does it feel like? People actually are looking for the same thing, but how to get there differs. One of the most consistent things that people say is ‘I want my opinions to be heard. And I want that to be valued,’” says Alex Noether, Expert Associate Partner at Bain & Company.
It’s Time To Change The Way We Measure Success
“The hustle mentality is over. Before the pandemic, companies only measured productivity based on the number of hours you worked, such as ‘Oh, this is a great worker! You put in 15 hours today!’ That’s crazy. We need to look at the quality output that that person is producing, and what type of value is being added to that team, that function and that organization,” says Angelique Hamilton, CEO, Chief Coaching Officer at HR Chique Group.
Having Emotional Intelligence Is Important
“It’s the EQ that allows you to look at differences to really understand where people are coming from, because that’s all about being tuned in. Building EQ gives you that flexibility that everyone’s demanding in really uncertain times. It’s so important that you can tune in to what somebody wants,” says Kendal Parmar, CEO at Untapped AI.
Open and Honest Communication At Work Should Be Welcomed and Encouraged
“I do make a conscious effort to try to connect with people. Of course there is work to be done, but actually just taking time to [talk] and being prepared for someone to say something like, ‘Actually I’m really upset. Somebody I knew really well died last night, and I wasn’t able to go and see them in hospital.’ So giving a little containing space for them is really important,” says Caron Evans, Director of Research & Insights at Untapped AI.
It’s More Than Checking a Box
“Look at Black Lives Matter. Some companies put out a quick memo so they could check off the box, simply saying ‘We’re behind Black Lives Matter.’ Then look at if there was the commitment to change. I think Black Lives Matter has really morphed into this commitment of diversity and inclusion. Is it another checkbox? Value wise, that’s really what we’re coming back to, the true understanding of [that] difference,” says Lizz Pellet, Chief Talent Officer and Fellow at Johns Hopkins University.
There’s a lot of work to be done in order to better serve and understand our employees. Often it starts with a conversation. By respecting each other’s voices and emotions, we can build a better place to work. We need to give each other permission to be honest. It’s important to understand where somebody’s coming from. It’s important to have those conversations, and it’s important to have them in a safe space for everyone so that we can better understand one another.
