‘The Great Resignation’, ‘The Big Quit’, whatever coined term you call it – everyone has experienced the lasting and lingering effects of this era. The period beginning in 2021 after the pandemic shocked the work-place, Americans were quitting their jobs at rates unprecedented. What we’d give for some precedented times – right? From entry level grads to C-Suite executives, The Great Resignation spared no one. According to the U.S. Bureau of Labor Statistics (BLS), an estimated 4.3 million people, 3% of all workers, quit their jobs in December 2021. This is an improvement over previous months, but still a problem sweeping over the nation. The uncertainty brought on by the global pandemic launched a hard reset of the labor movement. Whether you’re one of millions that sought after a career change, or you’re still reeling the effects of employee turnover, we can all agree that this ‘Great Resignation’ launched a shift in the work place.
Sounds like a great time to work in the recruiting business, right? Right. Just last month, the Dallas region added nearly 3,800 tech jobs, maintaining our No. 3 ranking among metro areas with the highest amount of job openings in the sector just behind New York (No. 1), and Washington, D.C. (No. 2). Champagne problems abound for the recruiting world. We’re sure it’s as clear to you as it is to us – everyone is hiring.
This is where we want to pause to take a moment to think about shifting our mindset. Instead of continuing a reactive scrambling approach to the ‘Great Resignation’ – might we offer a shift in perspective to focus on ‘The Great Retention’. If everyone is hiring, how do you set your business apart? Businesses need to become proactive, if they haven’t already, in the area of your company’s most important asset: your people. New year, new staff – seems to be the case for a majority. We know you’re still back-filling positions and managing the lingering effects from 2020 and 2021. This challenge could make 2022 your biggest growing opportunity to realize the significant importance in investing in your people by enhancing your employee’s overall experience. This matters now more than ever. It’s simple: thriving employees build up a thriving company. By acknowledging your organization is simply a compilation of emotion and purpose driven people, just like yourself, you can help start to improve your company’s overall employee experience and enter your ‘Great Retention’ era.
How do you do this? Give your people what they want. Studies show that employees want four main things: Appreciation, good leaders, training/education, and opportunities to advance. Listen, connect, empathize, lead, and invest in your people. The philosophy is simple: happy employees lead to happy customers, which leads to more business. Pre ‘Great Retention’ mindset, you may have pushed your extra time or money towards enhancing the prospect and/or customer experience. But, we’re challenging you to shift into the 2022 mindset of investing those resources strait to your employees. By building up your people to succeed, your company and customers will succeed. The employee experience and culture you create can lead to two things: resignation or retention. Go ahead and lean into the ‘Great Retention’ era, we promise you’ll be better for it.