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Recovering from The Great Resignation
Beatrice Wake • November 2, 2022
As the Great Resignation continues, employees are increasingly voicing what they need and want from their employers. Employees are continuing to leave their jobs searching for better work life balance, flexibility, better treatment, and better schedules.
As we move forward, the Great Resignation or as some call it, The Great Upgrade will have a long-lasting impact on the future of work. As we can see from the news around the country and in our own workspaces, important dialogue is happening between employees and employers. The biggest topics are around, mental health and well-being, empathy, and environmental, social, and corporate governance.
Below are a few statistics to think about on the current state of our work force, suggestions on redefining work as we know it and understanding how companies and employees are changing their priorities during this incredible shift.
- Worker retention is more challenging than pre-pandemic. The rate of employees voluntarily quitting their jobs is 25% higher than pre-pandemic levels.
- Leading reasons for leaving a job in 2021 included feeling disrespected at work (57%), insufficient benefits (43%), and long working hours (39%). (Source: Pew Research).
- Employee expectations around wellness are changing. Mental and emotional well-being have surpassed physical well-being as a critical focus for employer well programs. (Source: HR.com)
- Employers are making health and well-being a priority. A 2022 study found that 87% of U.S. employers surveyed were making it a priority to improve or enhance their health and well-being benefits: example – Virtual care. (Source: WTW)
- Flexibility and work-life balance trump financial compensation. 63% of job seekers recently surveyed indicated work-life balance was their top priority when picking a new job, above compensation.
- The same survey found that workers are 2.6 times more likely to report being happy when satisfied with their companies’ time and location flexibility. (Source: LinkedIn)
- Employees want empathetic leaders. Nearly 90% of U.S. workers surveyed said that empathetic leadership leads to higher job satisfaction, with many looking for empathetic qualities including trust, openness and transparency, and follow-through. (Source: Gallup).
- Company culture matters. A recent analysis found that a toxic corporate culture is 10.4 times more powerful than compensation in predicting a company’s turnover. (Source: MIT Sloan Management Review).
The current job market does give employees the opportunity and leverage they need to be patient and wait for the right job. Some experts predict that the Great Resignation will be over by 2023. While that may be true, the workforce and industry employment standards will never be the same. I do believe that while employers are deciding, the pay, the job descriptions, the hours and opportunities, that they are intentionally listening to the workforce and are trying to be sensitive and incorporating new strategies and benefits for this new normal.
While we are only 2 months into 2025, it may feel we’ve lived many lifetimes already. February is Black History Month, and this year it is essential to celebrate and support leaders and people of influence more than ever. As media coverage and information continue to grow at the tip of our fingers, it’s easy to feel that being just one person, you can’t make a huge difference for huge causes, but that is not the case. As professionals, every year we meet with our team, with our supervisors, and focus on goal setting. One major suggestion when entering this planning stage, has always been to set achievable goals. Don’t create chaos in your mind trying to achieve an unachievable goal, our supervisors tell us. The same goes for support change and community. You don’t have to be a major donor to a cause, or a legislator, decision-maker to be the change you want to see. Black history month is and always has been essential to education and honoring stories and perspectives of those that paved the way for communities of the present and future. Below, we’ve outlined ways to be an ally and support Black History Month this month, and every month after. Shop Local, Black Owned Businesses Small businesses thrive off community support. Individual care and attention go into each service and product a local business produces. So, next time you need a coffee on the go, a brunch spot to meet your friends, a new work outfit, or a concert for your next weekend outing, do a google search of black owned businesses around you, try it out, and refer your friends. Educate Yourself Did you know it was a black woman, Marie Van Brittan Brown, that invented the first home security system, which included a camera, peepholes, and a two-way communication system? Or a black man, Garrett Morgan, who invented the 3-light traffic light? Many life changing and saving innovations are credited to people of color, specifically African American people. Doing research and educating yourself on black leaders and people of influence can continue the knowledge and support of the black community, and further the narrative that teams and ideas flourish under diverse perspectives. Volunteer Act, to make change. Research organizations and causes that support racial justice, social equality, and community development. Join groups that work together to support community and engage your skill sets to work together and make a change. Ask the Questions, Use Your Voice See something, say something. If you see a coworker experiencing discrimination, call it out. If your organization is not operating inclusively, set a meeting with your manager to start the conversation. For more information on causes to support, where to start, and how to make change, contact Diverse Talent.
As the New Year kicks off, leaders are invited to take time to redefine aspirations for personal and professional growth. Goal setting as a leader helps to push forth an environment of accountability and ambition within teams. By embracing SMART goals ( S pecific M easurable A chievable R elevant T ime-bound) leaders provide strategy and achievable goals that resonate with evolving demands of 2025. If you are finding yourself drawing a blank in beginning the stages of goal setting for 2025, see below for a guide and items to consider adding to your spread: Begin by reflecting on the past year. What went well? What challenges arose? What needs to be discontinued? Identifying achievements and problem areas from the previous year can help in defining where to focus in the new year. This reflective process lays the groundwork for future successes. Connect with different teams and lead discussions to gain all perspectives of previous work, with a clear understanding of past performance and data. Engage your Team. When charting the course for the company’s future, engaging the team in thoughtful dialogue to gather invaluable feedback about ongoing projects and programs helps leaders understand not only what has fueled the organization’s successes, but also what challenges remain. True growth stems not only from pursuing high targets, but also from embracing diverse perspectives and insights from your team. Set Accountability Measures. Once your goals are set, it’s imperative to continue check ins and maintain accountability throughout the year. Scheduling 360 reviews with your teams s not just a procedural obligation, but an essential practice to ensure everyone feels encouraged to receive and give feedback and gain valuable insights that can shape the professional development of the team. Moreover, continuing the refinement of established goals is vital for maintaining focus and direction. As your team engages in regular discussions about their objectives, it facilitates a dynamic process of assessment and adjustment. This ongoing refinement not only ensures that everyone remains aligned with the overall vision but also fosters individual accountability, making each team member a crucial part of the larger mission. Continue your Leadership Education and Professional Development. Continued education is at the forefront for continued success of your individual position and company. Sharpen your leadership skills and ensure you’re up to date on how to effectively lead your team with online or in person programs. Diverse Talent’s DT University is a virtual, 6-session course focused on refining leadership qualities and skills. Meet with a mentor each week and learn through facilitated conversations and workshops to enhance your leadership abilities. For more information, contact us at DT@diverse-talent.com , or visit our website at www.diverse-talent.com .
