Embrace These Workplace Trends to Beat Great Resignation
Even though employees quitting is at an all-time high, businesses continue to use the same old ways to recruit and retain employees.
The Great Resignation is set to stay for a good time.
According to?PwC data?released at the end of May 2022, one in five workers indicates they are thinking about switching to a new job during the next 12 months.?Since March 2020, many people decided to quit their jobs, which has led to the widespread resignation we're currently seeing.
Let the data reveal a more clear picture for you.?
According to our analysis, this tendency has impacted businesses and workers across the nation and:
People keep quitting their professions in quest of greater autonomy, compensation, flexibility, and work-life balance.
One thing is certain: The Great Resignation will profoundly and permanently alter the nature of the workplace as we know it.
But as they say- "Every Problem Comes with a Great Opportunity".?
And it's true.
Employers still use standard recruitment and retention strategies, such as pay, recognition, and career prospects. These aspects are crucial, especially for a sizable pool of workers whom we refer to as "traditionalists."?
The COVID-19 pandemic, however, has caused people to reconsider what they want from a job—and life—creating a large pool of active and potential workers who are forgoing the orthodox road.
Employers should make an effort to reclaim such workers to bridge the gap.?
Yet the question stays- how?
Your team can attract and keep top personnel with the help of staying on top of workplace trends, which will also set your company up for success in the "post-pandemic" era.
Here are three crucial tactics that businesses should take into account to draw in the top candidates and retain current workers.
Beating the Great Resignation with These Workplace Trends?
1. Embrace Hybrid Work Model
The pandemic has altered the office as we once knew it, and things may never be the same again. It brought the future of work into the present.
According to a Prudential survey- Hybrid Is The Future Of Work.?
About 70% of American workers desire the option to work from home even after the pandemic, and about 87% of workers in the country want to do so at least once each week.
Many businesses survived and even prospered throughout the pandemic due to the adoption of a hybrid work paradigm.?
Allowing hybrid work did more than just promote economic growth. It provided workers more control over their personal and professional lives while allowing them to save time and money.?
Here are some opinions by executives on the hybrid work model.?
Hybrid work is not just a response to quarantine but a step toward rapid technological advancements.?
All in all, it appears that the hybrid work shift is a great idea for many businesses, as 63% of high-growth firms use it, and 69% of low-growth companies do not.
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It's time to rethink to best support workers everywhere.?
2. Develop a Clear Path for Advancement
Companies didn't just have to focus on technological advancement but also on career advancement for their employees.?
If workers believe they can advance with the company, they are more likely to stay.?
Employers should think about doing career mapping exercises with employees to address this issue by asking them about their professional aspirations and how they envision their futures inside the company.
Companies should also think about funding programs for training and upskilling their current employees if funds are available.?
It is a win-win situation for both companies and employees.
Such training programs will show employees that the company wants to assist them in acquiring the skills and information they need to improve their careers.
3. Combat Great Resignation with Outsourcing
In an interview, Glenn Huybrecht, COO of Cake Defi and ex-LinkedIn Global Head of Vendor Solutions, talked about Outsourcing and Future Technology.
He told that- "He is a firm believer in outsourcing as a solution to the Great Resignation."
Employers need to adapt to the changing workplace trends.
Over the last two years, the work-from-home or remote working concept has demonstrated that service-oriented businesses can still thrive if they can successfully adapt to a remote working model.
With employees in the United States still hesitant to begin working for different reasons, US businesses can begin actively exploring the concept of outsourcing by hiring offshore workers.
Outsourcing is no longer the same as it was in the early 1980s and 1990s. Instead, it has changed dramatically since then.
Employees are trained to be productive from the start, with no lag time in training or onboarding with a client. All of this is at a fraction of the cost of hiring an employee in the United States, given the numerous additional benefits available.?
When you add in the ability to scale up or down the workforce as required, you have a win-win situation.
Other than being a solution for mass employment, outsourcing has a lot to offer.?
Existing worker shortages have opened up new outsourcing opportunities for businesses. As a result, it would be well worth their time and effort to engage with a remote workforce to scale up their business.
Outsourcing as some may call it, remote working, is here to stay!
Wrapping Up
After all, the "Great Resignation" phenomenon is an opportunity to do better, not an end. It is the start of evolution, a tipping point that propels us into the next era of business.
Either you adapt and survive, or you do nothing and fall behind.
The choice is yours!
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With 25 years of workforce management and delivery experience, we can give you the help you need.?Ace Global’s on-site and remote workforce has deep experience in Accounting with an in-house training facility and dedicated trainers.?
Let us help you scale your business with the right talent, technology, and approach.?