Employers are experiencing high rates of staff turnover in what is being deemed the "Great Resignation." Here are strategies employers can utilize to stem the attrition and ensure employees feel valued, according to an Oct. 1 Harvard Business Review report.
In a recent Achievers Workforce Institute report, employees listed burnout, low work-life balance and seeking better benefits as reasons for wanting to leave a current job. High attrition rates can cause a frantic frenzy for human resources departments and managers who want to ensure a team has enough talent. However, in this panic, it can be easy to forget about focusing on retention. Here are four ways to create a team that wants to stay throughout this precarious period, per Harvard Business Review:
- Pay close attention to your impact and interactions with employees. Don't fuel unnecessary fear or stress by allowing your inner concerns to impact your team.
- Turn the challenge into an opportunity. Ask yourself and your team how this unique time can improve outcomes.
- Approach transitions with gratitude and not resentment. When an employee hands in a resignation, view it as an opportunity to consider their journey with the company instead of as a rejection.
- Take time to appreciate and engage with your employees who have stayed. Understand their motivations, engage them by giving them agency and reward them for their work regularly.