Effective Measures In Preventing Employee Burnout And Talent Loss

Is your company experiencing a sizable shift in employment dynamics? Odds are it is. Due to workforce transformation necessitated by the pandemic, businesses in every sector are experiencing the same phenomenon involving abnormal resignation rates. In fact, more than 4 million people resigned in July 2021 alone. Combine this with the rest of 2021 and the result is a record-breaking high of 10.9 million open positions.

It’s difficult to watch talent — especially top performers — walk away from their positions. However, many employees are doing just that. With over 87% of the workforce reporting they’re open to new opportunities, it’s time to act. While the causes behind these departures are varied, there are several approaches employers can take to help decrease frequency. Here is a brief look at how to potentially address talent loss in this time dubbed the “Great Resignation.”

Dissatisfied workers list burnout, a work-life imbalance, lack of recognition and insufficient compensation as part of the equation. Employers and management need to develop and implement strategies to help counter these issues. Let’s begin with burnout as it’s the leading cause of job dissatisfaction. Burnout can stem from stress in the workplace, mental distress or even physical health concerns. By identifying problem areas, you can begin to address each one and work to secure employee well-being.

Working from home, while necessary at the time, has changed the views on how work can be done. It’s advised to let team members who grew accustomed to working remotely to retain the option to do so. Not only can this help with burnout, but it works to boost the second point of maintaining healthy work-life balance. Having family-friendly policies is a big plus nowadays, as fewer employees are willing to put work first. Consider updating the guidelines surrounding parental leave, PTO and other work-life matters to not only support retention but to make your company more desirable to outside talent.

Next is recognition. Addressing this starts by strengthening relationships between managers and their team members. It’s recommended for managers to improve their efforts to not only check in more often but to be more forthcoming with praise. Recognizing hard work and achievements can go a long way in enhancing resolve and mindset.

Lastly, it may be time to boost compensation. While not the sole reason, this is a big issue with many employees as they face inflation, elevated child care costs and other financial concerns. Evaluating performance and compensating accordingly is necessary in these times of increased “job hopping” as wage stagnation is no longer acceptable. If raises are not an option, augmenting benefits or offering performance bonuses are options to seriously consider as well.

Making positive changes and implementing practices beneficial to the employee may better ensure your valued employees stay on during this Great Resignation and beyond. For further ways to reduce talent loss, such as improving interview processes, please see the accompanying resource.

Guide created by GForce Employment Professionals