Forget The Doom And Gloom, The Big Resignation Could Actually Benefit Your Business

A new survey from recruiting software company Greenhouse finds that more than two-thirds of organizations expect a dramatic increase in attrition in the second half of 2021. They further find that 53% of employers believe the top The cause of employee turnover will be the desire for a better work-life balance, and about a third of employers believe that concerns about return-to-work plans will influence attrition.

Likewise, the Leadership IQ study, Employee Burnout In 2021, found that 71% of executives expect top performers to quit due to employee burnout.

Whether you think your employees are going to quit (or quit) due to a work-life balance, burnout, a return to the office, or a myriad of other issues, the seriousness of the issue is undeniable.

But is any organization destined to be a loser in this economy? While there are many serious concerns about the state of our workplaces, some companies are using this disruption as a competitive advantage to retain and attract talent. If you can progress while your competition is losing ground, your gains could be doubly important.

For example, in the Leadership IQ burnout study, we asked companies if the current resilience of their employees was better or worse than before the pandemic. While the study showed that 43% said their employees are less resilient now than they were before the pandemic, 34% noted that their employees are actually more resilient. If you are one of those companies whose employees have weathered the pandemic stronger and more resilient, you are almost certainly one step ahead of your competition.

Perhaps your organization is implementing a hybrid working model, with a mix of remote and in-person employees, to provide greater flexibility and a better work-life balance. It’s not easy, and more than a few companies are doing it wrong. In The Leadership Skills Gap study, we learned that only 28% of leaders have advanced or expert skills to manage hybrid teams. But if you are one of the organizations whose leaders are very good at leading hybrid teams, well, now you have another major competitive advantage.

Something that often goes unnoticed in discussions of record resignations is that it doesn’t take a monumental change to become a more attractive place to work than your competition. Minimal effort to reduce employee burnout, or provide a better work-life balance, or more flexibility with your remote and hybrid work options, might be all it takes to overcome the effort. recruitment of your competitors. As I noted earlier, if you can improve while your competition is losing ground, your gains could be doubly important.

When I spoke with Daniel Chait, CEO and Co-Founder of Greenhouse, he noted that “The bottom line company turnover is my candidate. And if you have an attractive place to work, you’re good at identifying talent, and you can provide reasons for people to come to work for you, it’s a more liquid market, and that’s to your advantage. Being in this position can be very powerful. But if you’re just relying on inertia to hold people back, it’s a dangerous place for organizations. “

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