One of the most interesting trends affecting recruitment recently has been the large wave of resignations so we thought it would be a good time to highlight and discuss this trend.
With resignation rates spiking, and the trend not looking to slow down any time soon, companies are having to deal with recruiting problems from multiple sources. Not only are there resignations, but candidates are harder to find, seeing as the power balance has swung back to the candidates and away from the employers, a fact a lot of businesses are still failing to get to grips with.
Voluntary turnover, especially in industries like tech, means replacements must be sourced from somewhere, somehow. This could indicate that they are being poached but in a field such as Cloud computing, experts are thin on the ground and can only be sourced by recruiters who know what they are looking for.
Plans for returning to the office, which are always up-in-the-air, have not yet happened fully to the degree that some businesses need. Working from home seems to be returning and looks like it will not go away any time soon. Burn out was a key reason for high turnover in the past 18 months but now it is about choice.
The brightest and best are leaving companies at a staggering rate, leaving those companies desperately scrabbling for replacements that match the calibre of ones who have just exited, and this impacts profits. Yes, there is always going to be turnover, but as turnover accelerates, instability within an organisation ensues.
A workforce empowered can make demands in a market that is bouncing back, so those who do not agree with the company’s ethos and no longer feel, or never have felt, valued will vote with their feet and walk. As we have said before, millennials and gen Z are looking for respect, meaningful work and good communication. Job satisfaction matters but why is it so difficult for businesses to comprehend this fact?
Research shows that trust is at the forefront of the new employee experience and if an organisation cannot prove itself trustworthy, then seasoned employees will leave and new ones will not join. WFH has exacerbated an already strained relationship, with communication breaking down and the company’s belief system being tested and found wanting on some occasions.
Employees who have recently considered their own mortality recently have now decided that life is too short to work in a job that makes them miserable. Management who demand unrealistic workloads from their workers or who undermine their employees’ authority on issues of which they are the expert can grind away good will. To avoid this, managers must empathise with their employees.
The expectation that, if an employee is working from home, that they are available whenever they are needed, which leads to a workday with no clearly-defined end-point, will inevitably lead to burn out and resentment. With no workmates around to chat to and vent about the problem, it festers.
Productivity is also under the microscope these days, as the past definition and measurements do not hold muster with the newer generations. What is generally lacking is a result based culture with clearly defined outcome measurements and a standardised assessment framework, rather than a haphazard system based around how many hours have been worked.
By appreciating the old and new pressures their employees were under, managers can stem the flow of workers exiting the business and by building career development into each role, they can give some hope to those who are under their care.
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