The Great Resignation: Tips to Retain Top Talent in a Shifting Job Market

The world has seen its fair share of upheaval and rapid change over the last 18 months as the COVID-19 pandemic swept across the planet and drastically altered our everyday lives.

Things seem to have stabilized somewhat in recent months, with hundreds of millions of Americans getting vaccinated for the virus and many restrictions finally being lifted, but we’ve only just begun to see the damage this pandemic has caused.

One of the most significant societal shifts that has occurred as a direct result of the COVID-19 pandemic is what is being called “The Great Resignation.” Millions of Americans are leaving their jobs behind in search of better pay, less stress, and a greater work-life balance.

It seems that the opportunity to step outside of their regular routines during pandemic lockdowns has allowed many people to recalibrate their minds and reconsider their situations. The result has been an unprecedented exodus of workers from their former jobs, leaving companies scrambling to retain top talent and straighten the ship.

As a leader of your organization, you’re likely already trying to grapple with this unique employment crisis. To understand how to navigate this difficult time, you will need to know why so many people are choosing to leave their jobs behind and what you can do to prevent it from occurring within your organization.

To help you do that, we’ve compiled a collection of useful tips so that you can retain top talent in this quickly shifting job market.

Don’t Rush Back

Once your organization is ready to return to the office, you should keep in mind that it may be a bit of a shock to your workforce if you revert too quickly, which may cause them to seek employment elsewhere.

Instead, employ a phased approach by starting with a hybrid schedule that can get employees used to the idea of working outside of the home. You may even want to consider a permanent hybrid schedule like several other companies are now using.

Maintain a Line of Communication

If you want to know what you can do to keep your best employees on the payroll, you can start by asking them.

Allowing your top talent to voice concerns, express their needs and desires, and give you honest feedback is perhaps the best way to gauge their level of engagement so that you can make any necessary adjustments to keep them with your organization for the long haul.

Prioritize Health and Well-Being

With a deadly pandemic still ongoing, your workforce has plenty of reason to be concerned about their health when entering the workplace every day. They’ve also got plenty of reasons to be struggling with their mental health after the events of the last 18 months.

Making them feel safe with thorough health protocols and plenty of mental health resources should be an absolute priority for your organization.

If you fail to do either of these things, it may not be very long until your top talent becomes part of the great resignation and seeks out an employer who meets their health and wellbeing needs.

Remain Flexible

COVID-19 lockdowns have shown many organizations that their operations are a lot more flexible than they may have previously believed.

We’ve now learned that remote work can be easy and effective, work hours don’t necessarily need to be set in stone, and there are more paths to sustained success than the handful that businesses have traditionally followed.

This level of organizational flexibility has also shown employees that there are alternative ways to work that may very well be better for them in the long run.

To retain top talent, you may need to maintain that same flexibility outside of the pandemic, allowing for remote work, giving employees a range of work hours to choose from, and breaking the rules every now again to show them that work-life balance is important to your organization.

Also, remember that people are more likely to quit managers than jobs, so make sure that staff at every level is on board with your new organizational culture.

Get in touch with Asset HR to learn more about opportunities you might be missing in attracting and retaining top talent.