The Great Resignation
40% of the global workforce is considering leaving their employer this year according to this 2021 Microsoft Work Trend Index. The Work Trend Index (WTI) outlines findings from a study of more than 30,000 people in 31 countries.
Every month the U.S. Bureau of Labor Statistics releases data on hiring, firing, and other labor market flows from the Job Openings and Labor Turnover Survey, better known as JOLTS. According to this April 2021 report, quit rates reached a series high of 2.7 percent as nearly 4 million workers quit their jobs in April.
So, what can we do about it? In order to attract talent and retain diverse talents, companies will need to take a thoughtful approach to hybrid work. They need to ask and listen to their employees about the type of work environment they desire. One place to start is by looking at the Mircosoft 2021 WTI. Here are the top three trends:
- Flexible work is here to stay.
- Leaders are out of touch with employees and need a wake-up call.
- High productivity is masking an exhausted workforce.
The first two trends are straightforward but the third deserves an explanation. Companies that pivoted to remote work during the pandemic experienced higher productivity from their remote workers. In the short-term, this was a good thing however, over time remote employees have fallen into a remote work pattern with blurred lines between home and work. According to the 2021 WTI, one in five employees say their employer doesn’t care about their work-life balance. 54% feel overworked and 39% feel exhausted.
Clear Leader Group will help you help your employees. We have the tools and expertise to discover exactly what a person needs to stay engaged and deliver results to your company. Let’s work together toward The Great Retention and discuss ways we can retain our employees. During the month of September, we will share strategies companies can implement to work towards better employee retention. Contact us to get started!