Another "Great Resignation" wave could be coming. Are you ready?

THE SITUATION:

79% of employees say they’re eager to complete workplace feedback surveys, but only 37% are being given a chance to do so.

(Source: Explorance)

THE OPPORTUNITY:

Back in 2022, there was a lot of buzz around the “Great Resignation.” This was a time when a growing number of employees were leaving their positions in search of better pay, more advancement opportunities, and higher levels of fulfillment. While there were a variety of unprecedented factors at play, the fact was that people wanted more from their careers – and they were acting on those desires. With remote and hybrid working as the norm, there was more freedom and flexibility to seek work elsewhere.

Since then, it seems the “Great Resignation” dust has settled. But, according to a new global workforce report from PwC, we could be in for another wave. In fact, more employees said they are likely to change employer in the coming year than they did in 2022 – up 9 percentage points. This time, it’s largely about workload and dealing with significant changes in the workplace. So, if employee sentiment and satisfaction aren’t currently on your operational radar, they should be.

As many businesses strategize to manage economic uncertainty, financial strain, and the need for competitive transformation, there must also be a focus on employee engagement and talent retention. Internal stability and hardworking teams are keys to lasting success, and achieving those goals will only happen with an intentional, proactive approach.

If there is to be another “Great Resignation” wave, business leaders today have a significant opportunity to get ahead of it. This opportunity is underscored by The Situation, where employees are eager to provide their feedback yet aren’t being given the opportunity to do so. By proactively listening, understanding, and acting on employee feedback, businesses are better equipped to address concerns, make adjustments, and retain top talent.

THE CHALLENGE:

The emphasis on building a workplace where employees are happy, engaged, and productive is nothing new. This is a goal that any business leader will say they want to achieve. However, getting there is easier said than done.

A recent Newsweek article shared insights on this topic from Andy Nisevic, the director of One Degree Training and Coaching, who said resignations typically occur when employers lose touch with what’s important to their team members. The thought is that business leaders often take the wrong approach in fostering employee engagement and satisfaction. Here’s a clip from that article:

“They rely on what motivation tactics that worked for them, rather than what motivates the current workforce,” Nisevic told Newseek. “Employers who don’t want to fall victim to another wave of the great resignation need to take measures to understand what motivates the individual human beings they have working for them. When they do this, and take the appropriate action, they will find themselves with a workforce that wants to perform to the highest standards.”

The importance of listening, understanding, and taking action on the voice of employees cannot be overstated. The only way to foster an environment in which people want to stay is to know that that environment would look like. Then, leaders can take the steps necessary to bring that vision to life.

As you likely know from my other articles and posts, I’m a strong believer that every voice matters – which includes employees. Conducting surveys and interviews to gather feedback is a vital part of strategic business or brand development. With that, I’m aware of how challenging it can be to do feedback the right way. Where do you start? What questions do you ask? Is it really worth the time and investment? These are common thoughts many business leaders have, so you’re not alone of those hit home. But the benefits of gathering employee feedback are undeniable and are very much worth the effort. It just takes a strategic, intentional, and authentic approach to yield the results you’re looking for – which can be challenging.

THE SOLUTION:

Gathering employee feedback that is actionable and impactful requires a strategic and intentional approach. Much like with customer feedback, the process ought to start with careful planning and a clearly defined purpose. There needs to be a tactful approach to questionnaire development, survey design, and results analysis. Furthermore, it’s important to ask the right people the right questions at the right time based on their roles, responsibilities, and environments.

This is more than just launching a catch-all survey to employees asking generic questions. This is a chance to truly understand the unique individuals on a deeper level – identifying their motivations, ambitions, perceptions, and workplace experiences.

So, the solution here isn’t just to conduct employee feedback surveys. It’s doing so strategically in sincere and authentic ways. Here are a few tips to help you get started:

Design Clear and Concise Surveys

Questions should be straightforward and to the point, avoiding jargon or complex language that might confuse respondents. It’s important to use a mix of multiple-choice, rating scales, and open-ended questions to gather diverse insights. Additionally, limiting the number of questions helps avoid survey fatigue and ensures that employees complete the survey. This is why it’s valuable to incorporate feedback opportunities as a consistent part of strategic operations. Not only have employees said they want it, but it allows you to focus on specific topics this time and address other topics next time.

Communicate the Purpose and Process

Employees need to clearly understand why the survey is being conducted and how their feedback will be used. Sharing the expected timeline for the survey process, from distribution to implementation of changes, helps manage expectations. Highlighting past examples where feedback has led to positive changes can build trust and belief that their voices do matter. When people feel connected to the reasons for gathering their feedback, they’ll be more invested in the project.

Follow Up with Actionable Insights

Survey data should be analyzed promptly to identify key themes, areas of strength, and opportunities for improvement. Sharing a summary of the survey results with employees, highlighting the main findings, helps ensure transparency and affirms that their voices were heard. Developing and communicating an action plan that outlines the steps the organization will take in response to feedback also demonstrates a commitment to employee satisfaction and wellbeing.

Encourage Continuous Feedback

To gain team buy-in and foster consistent participation, surveys can’t be a one-time thing. Conducting surveys periodically, such as quarterly or biannually, ensures that feedback is integrated as part of the organization’s development strategy – and that open dialogue is part of the company’s culture. When employees see and feel that their voices truly matter, that in itself will strengthen engagement, satisfaction, and loyalty.

Ensure Anonymity and Confidentiality

This is how you encourage honest and candid feedback. Employees should be clearly informed that their responses will be anonymous, and they need to truly believe that is the case. Using third-party research firms (like MacKenzie) will help protect employee identities and eliminate analytical bias. This helps reassure employees that their feedback will not be used against them, rather it will contribute to positive changes in the workplace.

HOW WE CAN HELP:

As noted above, partnering with a third-party research firm offers a variety of benefits. It helps affirm to employees that their responses are anonymous, that results analysis will be unbiased, and that leadership is truly invested in their wellbeing. Furthermore, effectively and efficiently conducting employee feedback projects can be a significant undertaking. It takes time, energy, skills, and knowledge that organizations may not have internally. By partnering with an outside firm like MacKenzie, businesses are better positioned to attain actionable insights, achieve their goals, and maximize ROI.

If you’re interested in launching an employee feedback project, we’d love to support those efforts! From high-level strategic guidance to ground-level tactical support, we custom build each research project around the unique needs and situations of our partners.

YOUR TURN:

I’d love to see your thoughts and comments about employee feedback, talent retention, and how to navigate a potential second-wave of the “Great Resignation.” What measures are you currently taking to foster employee engagement? How are you building a culture that attracts and keeps happy and productive team members? What advice or suggestions do you have for someone just getting started with an employee feedback program?

By sharing your thoughts, ideas, and suggestions, we’ll foster a collaborative community where actionable insights are the foundation and collective success is the outcome.

Do you have a stat, trend, or topic you’d like me to write about? Send me a message or share it in the comments. I’ll add it to my ideas list!