We are now 18 months into the pandemic and it continues to disrupt the traditional workplace. The pandemic gave many people a chance to reflect on their work-life and ask themselves, “Is this really where I want to be, and would I be willing to go back to an office?”. For many the answer is no – they would rather quit than go back to an on-site environment.
With the rise of remote work, many people are resigning for several reasons including a change in mindset prioritizing mental health and work-life balance, flexibility where and when to work, and having access to international opportunities that were not available prior to the pandemic. In addition, employees have been thrust into the use of video conferencing and cloud-enabled tools to replace physical meetings and traditional ways of working. These technologies have proven to be successful and empowered employees to work remotely for the long term.
Employees now have more choices than ever before, and for the employer, retention is crucial because finding and replacing great talent is difficult and costly. So, what can employers be doing to retain their talent and navigate this new era of work?
Leaders must rethink the environment in which their companies operate, providing more flexibility to employees around how and where they work. As companies compete for key talent, implementing more flexible ways of working that harness digital transformation can improve and achieve work-life balance and meet employees’ personal preferences.
The transition to a remote or distributed workplace allows businesses to hire a more diverse workforce that isn’t limited by barriers such as a person’s physical location or disability. This unlocks more talent, opportunity and allows people to be treated as equals.
It isn’t always about compensation. According to Global Talent Monitor, 40% of employees leave due to a lack of career development. Candidates and employees want to know that they can develop in the company and grow within their role.
Ensuring all employees feel valued, supported and connected plays a critical role in productivity, motivation and overall company culture. One important element to this is celebrating key milestones and recognizing and showing appreciation when employees have done a great job. By integrating remote workers into your culture, it’ll help you stand out and retain them.
Companies that are successful in this emerging world will be those that put people first. There isn’t a one-size-fits-all workplace model; however, the key is that it needs to be people-driven which includes asking employees for their input and listening to their concerns.
As we continue to navigate the post-pandemic workplace and now, The Great Resignation, organizations that are willing to change and adapt are the ones who will be successful in retaining talent.