As employers, we have all been living what is known as “The Great Resignation.” But as we’ve only begun to navigate in this new employment world, “The Great Talent Reshuffle” wave has crashed through our lobby doors.
What does this mean?
“The Great Talent Reshuffle” is a term that has evolved from understanding that of the millions of Americans quitting their jobs each month, that half of the workers who quit are switching their occupation or field of work. Some are leaving the labor force altogether.
While compensation always comes top of mind as the reason employees change jobs, many other issues are emerging including:
- Toxic Company Culture
- Misaligned Decision-Making/Priorities of Management
- Disconnected Leadership
- Unpredictable work schedules/total compensation for hourly workers
- 85% report unpredictable work scheduling affects overall well-being.
- 48% report greater financial distress due to the unpredictable availability of work hours.
- 40% report feeling they are burned out because of emotional and financial distress.
Additionally, there is an increasing trend of employees putting family, health, and personal life over work. This trend is called “The Employee Worth it Equation.”
“New Collar Work” is an anomaly happening since August of 2020 where many employees in hourly positions can change their occupation and complete training for new jobs in professional occupations such as tech, logistics, finance, and healthcare.
What Can Employers Do?
- Not just define a positive company culture but live by it.
- Investigate the reasons for voluntary resignations.
- Encourage and enable employees to train and develop their skills.
- Establish a leadership team that connects daily with workers.
- Evaluate the impact of unpredictable work schedules and possible remedies.
- Understand the “Worth It Equation” of your employees and identify ways to make it worth it!
What can HumCap Do to Help?
HumCap offers a variety of People related services through our Human Resources Consulting Practice. Some of these services include:
- Leadership Coaching and Development
- Employee Training
- Organizational Stay Interviews
- Employee Engagement Surveys
- Exit Interviews
- Job Analysis
- Compensation Analysis
- Core Competency Analysis and Implementation
Meister, J. (2022, April 19). The Great Resignation Becomes the Great ReShuffle: What Employers Can Do To Retain Workers. Forbes. https://www.forbes.com/sites/jeannemeister/2022/04/19/the-great-re-shuffle-of-talent-what-can-employers-do-to-retain-workers/