The pandemic did not only open our eyes to a new way of living, it permanently changed how we look at work. New opportunities emerged as a result of the global shutdown which gave people new insights on preferred attributes in their future workplace.
Although many job opportunities are opening up and companies welcoming employees back to the offices, filling these job positions hasn’t been as easy as they might have thought. Candidates are acting on their job dissatisfaction which have resulted in a record level of workers globally taking a sabbatical year or leaving their full-time job to explore other opportunities.
There’s undoubtedly an existing mismatch between workers' expectations of their future employer and employers' current talent management strategies. A mismatch which has resulted in employees leaving their current company if their employers are unable to meet their demands. While this new working era is taking place, employers are using the same techniques that they did pre-pandemic both to retain and attract new talent. The great Renegotiation report from McKinsey & Company displays five different post-pandemic personas and their top motivators for staying at a job. Even though the salary is still a central motivator, it takes a lot more to keep workers from leaving in the long run.
Let's dive in! Here are 3 top factors why people are quitting their jobs and what you as an employer can do to prevent it.
1. Lack of flexibility
Not only did the world undergo the biggest global work-from-home experiment of all time, but it also allowed employees to reflect on what truly matters to them in life and the possibility to redesign their own schedules to better fit their overall lives. The McKinsey & Company report shows that 26% of workers globally would quit a job that’s lacking workplace flexibility. Employers that are willing to look over their possibility to offer freer working conditions have a lot to gain, not only by providing geographical flexibility but also in terms of when work gets done.
2. Lack of career development and advancement
41% of workers say that their employer has to offer opportunities for development for both professional and personal growth. Keeping an employee motivated in their job starts with providing opportunities to grow even beyond their careers.
Employee-focused companies who invest in their staff will not only improve the level of productivity, which might not come as a surprise. Treating your employees like an investment instead of an expense will also create a ripple effect in terms of reputation, which in turn will help the company build a stronger employer brand and attract more talents. Other working opportunities are just around the corner so make sure your employees feel like it’s hard to imagine working anywhere else, if not there’s a good chance they’ll try and try their luck elsewhere.
3. Uncaring and uninspiring leaders
Nothing kills the vibe as much as a bad manager. How influential poor management can be in terms of people quitting their job is enormous and a total of 34% of workers globally say they would leave if that were to be the case, according to the McKinsely & Company report. It’s vital for employees to feel that their manager truly cares about them. An article from Business News Daily shows several suggestions on how to develop a healthy leadership style:
- Provide positive feedback and constructive criticism, make sure you inspire your employees and make them feel excited about work.
- Create a culture that encourages open communication. Transparency and openness is key to creating a healthy work environment where people feel safe enough to express themselves.
- Facilitate positive relationships with your employees and prioritise their needs. The more supported they feel, the more you’ll get in return in terms of productivity and dedication.
This new era is all about the people. Companies that heavily invest in a human-centric organisation and put the employee experience first will receive a strong return. And, we all know that happier and content employees will, in turn, create better business results and a more profitable business overall.
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