The “Great Resignation” is a term derived from the US to describe a record number of individuals leaving their jobs post-pandemic. Businesses in the UK have struggled to retain staff since the easing of restrictions. CV Library, the UK’s leading independent job board reported 76.4 per cent of UK professionals intend to look for a new job in 2022 with 57.6 per cent looking to reskill or retrain. We may be suffering the impacts of the “Great Re-Evaluation” as employees rethink their relationship with work.
The top five reasons for moving on in 2022 are career change, higher salary, pandemic uncertainty delaying the decision to leave, more flexible working opportunities and employment burnout.
Businesses are looking to replace staff at a time when the demand has caused salaries to increase. Whilst having to remain financially competitive the rehiring and training process costs businesses money and hours of management time. Alongside the obvious concerns of being understaffed and having to rehire, businesses are also suffering other concerns including reduced productivity, efficiency and customer service.
The best option could be to invest time and resources into retaining instead of replacing staff members and there are a multitude of options available to businesses. Increased salaries due to the cost of living and one-off payments to staff to help with rising costs, offering benefits e.g. private health care and enhanced sick pay, plus regular wage and role reviews are just a few of the ways to help employees feel more valued and encourage them to stay in their current roles.
Due to the pandemic workers have also been used to having an enhanced degree of flexibility over their working day and location, so maintaining that balance (for the benefit of the business and the staff member) can lead to improved productivity and staff satisfaction. If your employees have returned to their pre-pandemic working routine, then it is even more important to be able to identify and prevent burnout. Regular check-ins, breaks and mitigating long hours where possible can all help your employees stop burnout. Staff might also welcome being provided with additional annual leave as a bonus for long service.
Having the right culture in a business is imperative to maintaining healthy and successful working relationships and making staff feel valued. Training and career development, as well as progression and training opportunities, demonstrate that staff are valued and that the business is willing to invest in them. Whether you have suffered a loss of employees or not your business should be proactive in retaining and nurturing your current talent.
Jade Taylor Employment and Litigation Paralegal
J.Taylor@bellbuxton.co.uk
