Hang on to Your Stars – Turnover on the Rise!

Even before the pandemic, organizations were facing an increase in turnover. The shocking layoffs brought on by the pandemic have changed how people see their work. Many people took time to rethink their lives. If organizations did a poor job of affirming their people, many employees were left feeling undervalued. In addition, the stress of handling additional responsibilities such as schoolwork and eldercare left people desiring more balance in their lives. Finding in the Achievers – Engagement and Retention report finds that “52% of employees state they will be looking for a new job this year.” Another survey found 69% of employees “have one foot out the door. “This was shocking considering that it is a jump from 35% in 2020! The reasons stated were for better compensation and benefits and an improved work/life balance.

Engagement is key in hanging on to your star employees as those employees who are engaged are significantly less likely to look for another position. Shockingly, only 21% of the employee’s survey say they are engaged and planning to stay for a long time. Especially during the pandemic, many leaders forget the importance of recognition and letting their people know they recognize the efforts that employees are putting in especially during extremely challenging times. 

Another way to engage your people is to include them in the decision-making process especially if the change impacts them.  More than half of the employees surveyed say their leaders asked how to improve their experience and the culture in which they work, and almost half say their leader either makes a few changes or is “horrible” at acting on feedback.

Trust is an additional aspect that supports engagement and yet 51% say they believe their manager/supervisor doubts their productivity at home. For this reason, they put in extra hours which has led to burnout.

Finally, a major reason people leave is they do not feel connected to their company. Almost half state they feel less connected since the start of the pandemic. Others say their company culture has “diminished since the onset of the pandemic.”

To reduce the chance of your people leaving:

• Build a recognition culture: This is one of the easiest and most effective ways to improve engagement. Train your managers on how to give helpful feedback in a timely manner. Although thank you goes a long way, it is more important that the employee understands what they did that is being recognized. Once trained, hold your managers accountable. Also, find ways to support peer-to-peer recognition as it is equally impactful.

• Survey current employees: Ask what is working and what is not … then act upon those things which consistently come up. Inquire why your people stay and if they do leave ask for honest feedback.

• Burnout: Ask how your people are doing and find out how you can support them. A check in call can go a long way to help your employee feel cared for.

After gaining feedback from your team, reassess what you have to offer. Identify what is missing and can be improved and create a communication process which helps employees feel heard. Preventing turnover really is about finding what your people need. Invest in ways to support and mentor your people. A lot of expensive turnover can be prevented by taking time to support your people in a way that engages them.