Puja Rungta Agarwal, Associate Director – People Practice, Happiest Minds Technologies
Today, employees want a meaningful connection with the organisation which not only focuses on providing financial benefits but focuses on their evolved needs of holistic development. The article explores how employers can strengthen their relationship with employees and convert ‘The Great Resignation’ to ‘The Great Return’.
Almost all the industries are currently witnessing the churn with the great resignation. The immediate mitigation plans adopted by many companies are quick fixes like – ad hoc/interim increments, special bonuses, other financial perks. For many employers, this may be the best and the difficult option opted by possibly taking a hit on the company financials, but is this working?
The pandemic has had a major impact on humanity and humans. After experiencing unprecedented life during the pandemic, employees are now looking for a renewed and revised sense of purpose in their work. The need for corporate social connections, being valued by the organisation and managers, alignment with the organisation expectations, and personal aspirations are some of the key factors driving this. They want a meaningful connection with the organisation which not only focuses on providing financial benefits but focuses on their evolved needs of holistic development. The employees are realising the true value of their skillsets and are not ready to settle for less and trying to make way for the place that best fits their evolved needs.
Employers will have to focus on strengthening their relationship with employees by actionising on the following key influencers beyond money which can help convert ‘The Great Resignation’ to ‘The Great Return’:
Care and Compassion: Many organisations made an effort to be more humane, more empathetic towards the workforce during the pandemic. This is very crucial in strengthening the relationship between employer and employee. A caring and compassionate work environment and leadership which supports employees during exigencies by their benefits, policies, time, and gestures will be a focus area for employers to retain and attract talent.“A caring and compassionate work environment and leadership which supports employees during exigencies by their benefits, policies, time, and gestures will be a focus area for employers to retain and attract talent.” Click To Tweet
Recognition: In the current time, recognition is more about creating an experience and making employees feel valued and relevant rather than just rewarding by means of available standard tools like quarterly all-hands meetings, giving hard cash, and so on. Organisations will have to focus on creating recognition charters which will help build a culture of recognition which promotes not just exemplary contribution but also gives due respect and recognition to the contribution, support, and collaboration during the journey.
Collaboration: An effective instrument to enhance social connections is to create multiple channels of collaboration. Introducing and promoting interdepartmental levels and locations, collaborative projects or programs provides an opportunity to engage and connect with people of similar interest. This collaboration helps build their knowledge, skills, and social connections.
Transparency and Trust: This is the baseline of any relationship. And primarily in the current context of remote/hybrid work, it is crucial to practice this on a day-to-day basis by the leadership and managers to sustain the values of fairness and equality. Many organisations who were very transparent about the company’s growth and employee’s future during the beginning of the pandemic, their employees appreciated the transparency and voluntarily offered pay cuts, increment cuts, etc. In the year 2022 also, organisations will have to create multiple communication channels for leadership and managers to effectively lead by example.
The great resignation may continue to stay or may get worse before it gets better, yet this provides us an opportunity to explore the silver lining. Reflect, rebound, and renew – starting with a focus on the relational aspects of work that people have missed the most.