Although the Great Resignation hasn’t dominated headlines, as it did earlier in 2022, it’s still impacting businesses of all sizes.
On average, four million Americans quit their jobs month over month. That statistic doesn’t include the latest “Quiet Quitting” trend – workers doing the bare minimum on-the-job without actually leaving.
Those are worrying numbers for businesses. And the immediate outlook doesn’t appear much brighter.
According to a new report by LinkedIn, more than half of U.S. workers (61%) are considering an exit strategy in 2023. The December survey asked more than 2,000 U.S. workers about their professional plans for the new year. Of those respondents, 72% of Gen Zers and 66% of millennials are contemplating a career change in the next 12 months. Trailing behind are their predecessors, 55% of Gen Xers and 30% of baby boomers.
Quiet Quitting? Or No Longer Sitting on the Fence?
Common reasons employees physically leave and/or mentally “check out” include:
Individuals who are stressed and worn out are more likely to quit their job just to feel “normal” again.
Lack of growth opportunities
If employees feel stifled in their career, they’re likely to seek a place that offers room for advancement.
Employees want leeway to perform tasks independently and to be trusted without a boss hovering over their every move.
If employees feel they’re not being paid fairly for their skill level and experience, they’ll look for an employer willing to compensate for industry market rates or higher.
OUTSMART QUIET QUITTING: NINE TIPS FOR RETAINING AND MOTIVATING THE WORKFORCE
1. Recognize their performance
People like to be seen and heard. Rewarding employees for their efforts encourages connection and purpose, while validating their importance to the company’s present and future success.
2. Ask for their input
Listen carefully to their suggestions and entertain their ideas. Demonstrating that you believe they have a role to play in helping the company reach its goals inspires employees to remain loyal and committed.
3. Provide new growth opportunities
Most people are eager to advance their careers. Provide these professional development opportunities for your employees:
- Offer leadership roles – like assigning team leaders for projects
- Facilitate career development alongside tuition reimbursement for ongoing education
- Attend industry events and count their participation toward hours worked
- Create mentorship programs that connect new hires with senior-level staff
4. Provide competitive salary and benefits
Fair compensation is an essential component of employee retention. Since health insurance and paid vacation are standard for most companies, finding additional benefits can help. Things like flexible schedules, health and wellness programs, paid lunches, and extended maternity/paternity leave are well-rounded incentives.
5. Promote a healthy work-life balance
Encourage employees to decompress by taking vacation time and prioritizing their personal lives. Also, make sure managers set an example. When workers see their leaders embrace work-life balance, it gives them the confidence to focus on their own.
6. Set clear goals
It’s hard for employees to give their best if the goalposts are always moving. Communicate your expectations clearly and outline your benchmarks. Then be sure each employee understands their role, timeframes, and anticipated outcomes.
7. Provide flexible work arrangements
Flexible work schedules- including the ability to work from home or in a hybrid context- is more important than ever. As more companies institute return-to-work policies, employees who’ve become accustomed to working remotely can become resistant. But remote work isn’t the only way to provide flexibility – you can allow employees to choose their start and finish times or work fewer, longer days.
8. Give continual feedback
It’s worth restating: employees need to feel that they’re heard and recognized by their managers. Providing a safe and comfortable space to share their thoughts and concerns will make them feel valued. Sometimes you can prevent an employee from leaving if you know what challenges they’re facing.
9. Communicate openly
Establishing effective communication can help employees gain clarity about their performance and confidence in their work – which may lead them to stay with a company longer. Promote an open atmosphere where employees can ask questions and get curious about their own responsibilities and goals.
TOO LEGIT TO QUIT? GIVE THEM SOMETHING TO THINK ABOUT
The strategies outlined above are just some ways to help improve your employee’s overall satisfaction. Yes, there will always be those folks who leave your company sooner than you’d prefer. But by taking thoughtful and intentional action, you can at least make the choice a little harder for them.
At Health & Benefits Partners, we’ll help you make the right decisions for your employees and your business. If you’d like help developing a plan to better serve the needs of everyone in your organization, reach out to our qualified team.