How to retain your best employees during the wave of great resignation

One of the main reasons why employees are giving up on their jobs is the rise of a basic need for flexible work models that have risen recently.

Written by Guest

Updated: June 3, 2023 11:14 IST

How to retain your best employees during the wave of great resignation.

By Mahesh Krishnamoorthy

Since April 2021, over 19 million workers in the US alone have said yes to the exit doors at their jobs. These numbers are alarming. And they are rising not just in the US but all over the world. One reason for this is a “Wave of great resignation”. What is driving such a great amount of people to leave their jobs?

The answer is quite simple. While some employees have a great swap for their current jobs, some are looking for a better work-life balance. A few sectors like tech are hiring aggressively. This provides talented folks with a better pay scale and opportunities. While some companies have changed their aspect when it comes to treating their employees, by going fully remote, employees are bound to change places with such comforts and opportunities available in the market.

Amidst everything that is going on, employees have several lucrative job opportunities in front of them. The study mentioned above also shows how employees are taking the plunge into careers they have no experience in before. This leads us to the question of how to retain the best employees in between all this peak rush exit hour.

Below mentioned are a few ways identified by which employee retention can be easy, especially during the wave of great resignation.

Flexible work model

One of the main reasons why employees are giving up on their jobs is the rise of a basic need for flexible work models that have risen recently. Post-pandemic, the idea of what a fulfilling job is has changed altogether. Employees are now seeking roles that can provide flexible work schedules, leading to a better work-life balance. This has undoubtedly been the number one criterion for employees who are searching or looking for new opportunities.

Growth opportunities

The best employees are always on the lookout for growth. The soundest of talent in any organisation would want to stay far away from mundane work that does not contribute to their professional growth. For talented employees, growth opportunities are in abundance. Companies need to identify these unsaid or said requirements and provide enough growth opportunities to waive off the resignation wave.

Regular appreciation and rewards

Appreciation and recognition should be an unsaid outlook of any organisation. Rewarding the employees at the right moment builds trust between the two parties. This can straight up spark a rhythmic cord between the management and the employee. It then leads to better chances of retaining the best talents.

Corporate culture

Corporate culture plays a crucial role in retaining employees across the value chain. Be it the executive or general manager, people stay with an organisation because of the culture it preaches. At the time of the resignation wave, companies with better and more fulfilling cultures are likely to retain employees without difficulty. This is so because people want to work with companies whose values resonate with them. And corporate culture plays a crucial role in delivering the same.

Inclusivity

Inclusivity is another deciding factor that helps an employee in deciding whether to stay back with the organisation or not. With over half of the employed population deciding to back off from their present jobs, companies that value their employees might not face the heat wave of resignations. Employees choose to stay at places where the organisation has a more human-centric approach rather than only production or task-centric ones.