Great Resignation: Three Opportunities for Company & HR Growth
“We’re not sure where all the workers in every industry went.” That’s a question plaguing hiring managers around the globe—along with Brad Rencher, who spoke at this year’s Virtual HR Summit, hosted by BambooHR and Kazoo.
Rencher, the CEO of BambooHR, says working through the so-called “Great Resignation” of 2021 is all about creating environments that build employee trust and team productivity—all things that help people avoid feeling burnt out.
Currently Microsoft predicts 41% of workers could quit their jobs before the end of this year. A survey from Conference Board also found that 49% of organizations with a mostly blue-collar workforce found it hard to retain worker. That’s up from 30% –before the pandemic.
“Recruiters, culture builders, the developers of talent—are all feeling the pressure—along with HR,” said Rencher.
To add to the pressure among HR professionals, Rencher says the resignation rates from HR departments this year—are higher than most other departments.
Why are People Leaving the Workplace?
According to Rencher, the “Great Resignation” movement centers around purpose—as a growing number of people want to find meaning and personal satisfaction in what they are doing each day.
To retain staff, he recommends “repurposing HR and defining personal satisfaction.”
“As HR leaders, it’s our duty to ask our workforce what kind of employee do you want to be? There isn’t a single answer,” said Rencher.
Tools to Get Started
1. Offer Greater Challenges
We train, so we can have employees who can handle more challenges, but what if people are already ready? Not for more tasks—but bigger challenges.
“One of our values is ‘lead from where you are’”,” said Rencher. “We expect everyone—from our summer interns—to our managers—to step up. You don’t need a manager or the word ‘lead’ in your title to be a leader.”
2. Use Tools to Gather Data
Another tip—gather employee data using NPS surveys. Rencher points out that the NPS surveys allow people the freedom to respond anonymously. Data collected from BambooHR’s recent NPS surveys showed that their parental leave policies weren’t meeting employee satisfaction. Surprising results since Bamboo already offered parental leave that’s above most typical benchmarks. As a result of the data, Bamboo’s executive team worked to expand parental leave further—with an emphasis on paternity leave
3. Remove Mundane Tasks: Automate!
One last tip from Rencher—look at your process to determine what might be able to be automated, freeing up your HR teams from transactional items. By doing this Rencher says you can “rise up and create the employee experience you know is needed.”
Overall, the “Great Resignation” can create new opportunities for recruitment and improvement within organizations. Over $4 million Americans quit their jobs in August. While challenging, this is also an exciting time to listen to employees and create winning, collaborative—and competitive environments to further benefit and enhance your company’s growth and bottom line in the future.
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