How to Retain Talent Amid Growing Uncertainty

As the year begins, many employees are grappling with heightened job insecurity, especially in light of recent layoffs and an exceptionally low job market recovery rate since the pandemic. According to a survey by MyPerfectResume, 80% of workers express concern over potential job loss in the coming year. A significant portion of the workforce anticipates further layoffs and business closures, while the specter of a looming recession weighs heavily on their minds.

Beyond the immediate job concerns, a larger crisis is emerging: burnout. More than half of employees predict an escalation of burnout in 2025, fueled by job insecurity (43%), heavier workloads (29%), and poor work-life balance (23%). This cycle of fear-induced overwork intensifies stress and exhaustion, creating a challenging environment for both workers and employers alike.

This phenomenon has birthed what’s been called “The Great Stay,” where employees are hesitant to leave their current positions, despite the widespread anxiety surrounding layoffs, burnout, and economic uncertainty.

According to Tim Glowa, founder and CEO of HR Brain, the combination of diminished job security, an aging workforce, and intense competition for talent creates the "perfect storm" for workforce instability. Companies are grappling with the challenge of retaining anxious employees while preparing for a demographic shift as the average worker age continues to rise.

The toll of this anxiety is felt even more intensely among management. Research from meQuilibrium highlights that managers experience more than twice the level of burnout and four times the stress of their teams. However, managers who actively support their teams' mental wellness can reduce burnout by 56% and work stress by 58%. These leaders also significantly improve retention, with employees being 4.5 times more likely to stay with the company.

Addressing these challenges requires a tailored approach. As Amy Mosher, Chief People Officer at isolved, points out, one-size-fits-all solutions won’t suffice. HR teams must first understand the root causes of employee burnout to create effective support strategies. This deeper understanding is echoed by Ben Eubanks, CEO of Lighthouse Research & Advisory, who believes that for employees to feel truly supported, employers must look beyond job titles and pay rates, understanding what drives their people on a personal level.

Workplace experts suggest several strategies to mitigate these issues:

1. Invest in Career Development: As employees increasingly prioritize upskilling, offering learning opportunities can help retain top talent. Justin Marcus, CEO of Big 4 Talent, also suggests offering equity or profit-sharing to further incentivize retention.
2. Support Managers: Given the higher stress levels among managers, organizations should focus on developing resilient leaders who can support their teams' mental well-being.
3. Prioritize Transparency: Open and honest communication is crucial. Regular updates and a clear vision of the company’s future can alleviate anxiety about layoffs, building trust among employees.

As Tim Glowa aptly puts it, the way companies treat their employees today will be remembered—and shared online. In a world where employee feedback is easily accessible on platforms like Glassdoor and LinkedIn, clear communication is no longer optional but essential.

How Burke Recruiting Inc. Can Help Your Organization Build a Resilient Workforce

As companies navigate these turbulent times, having the right talent and strategies in place is crucial. At Burke Recruiting Inc., we specialize in connecting organizations with top-tier talent who thrive under pressure, helping you build a workforce that is not only resilient but also committed to your company's long-term success. Whether you are looking to upskill your team, find the right leadership, or fill key roles with the best candidates, we offer tailored recruitment solutions to meet your needs. Learn more at burkerecruiting.com.

Reference: https://www.worklife.news/talent/anxious-workers-hit-with-perfect-storm-of-job-insecurity/