3 things you can do to reduce the impact of The Great Resignation

The Great Resignation

3 things you can do to reduce the impact of The Great Resignation.

If we follow the worldwide trend, the Great Resignation is coming to Australia, with some experts predicting that we’ll feel it’s effects from March. Figures show almost 40% of workers are planning to change jobs in the next 12 months. Employment Hero found 40% ready to look for a new job within the next six months, while 15% were already actively looking.

Why are people leaving their jobs?

The pandemic has caused many to reassess their priorities. Who wants to spend their lives in a job they hate? We’ve all come to realise just how short life can be which has made us rethink where we want to use our time.

While we need to work for a living, we don’t need to stay in a job which isn’t fulfilling. While money is still a key factor, it’s not the only one. Business Insider says “More than six in 10 prospective jobseekers said they were primarily motivated to leave by a lack of career opportunities or no pay rise. A lack of recognition from their bosses and poor company culture were also identified as contributing factors.”

Is your company driving your people away?

One thing I found extraordinary in my reading about The Great Resignation was the number of stories of people who had chosen to leave because of the way their employer treated them. And not just during ‘normal’ work times but also during the pandemic.

Businesses had an excellent chance to prove to their people how much they cared about them and many failed to do that. In fact, the choices and lack of responsiveness showed clearly that some companies don’t see their employees as humans with needs.

How did your company – your leaders – perform during the pandemic? The answer to that question will help you predict the possible scale of talent loss ahead of you.

How to reduce the impact of The Great Resignation.

While nothing will stop some degree of loss, there are some things you can do to limit the impact. As people are reconsidering their relationship to work, that’s where you need to start. Work won’t look like it used to. It needs to meet a broader range of human needs than it has in the past.

  1. Review your offerings. What benefits do people get by working with you? Some companies offer childcare or gym memberships while others offer bonuses based on performance. Ask yourself why someone would choose to work with your company over another. If you can’t pinpoint some real benefits or special value, it’s time to create some.
  2. Offer flexibility. People have become used to working from home and working at times which suit them. Some have made lifestyle changes, moving out of the cities into regional areas. Remote working has given them a freedom your people won’t want to lose. Ask yourself if you really need them to be in a central office. Most times the answer is no, or at least rarely. Don’t wait for people to come to you to negotiate remote work: offer it and then work out the finer details with everyone.
  3. Ask your people what is important to them. We’re not all focused on money. Remember learning about Maslow’s Hierarchy of Needs? It shows there are other ‘currencies’ that motivate people. Things like career opportunities, advancement, travel, work/life balance or the feeling of making a difference in the world. It’s different for each of us. Find out what matters to the people you work with and together you can find a way to deliver on it.

You’ve probably noticed that each of the three strategies involves personalisation and communication. Those are going to be the two keywords for the immediate future. Treat people like individuals and help them get what they need to get out of their jobs. That’s the key to retaining your best people.

I can help you reduce the impact of The Great Resignation. Give me a call and let’s see how my experience can benefit you.

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Caroline Kennedy, author of Lead Beyond 2030: The Nine Skills You Need to Intensify Your Leadership Impact, is an accomplished, award-winning CEO and global thought leader on business and leadership. She is a highly sought-after mentor and coach to top global executives. A respected keynote speaker and author, Caroline’s methods are neuroscience-based to achieve rapid development and growth.


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