The great resignation has been sweeping the nation with many businesses feeling the effects. Employees are quitting their jobs in droves. It can also be difficult to keep your team happy and productive.
However, there are a few things you can do to still promote employee retention. In this article, we will discuss some of those strategies.
What Is the Great Resignation?
The great resignation is a popular term referencing the large number of employees resigning after Covid-related restrictions. This has been happening throughout the nation and businesses are starting to feel the effects.
Many employees are unhappy with their current position or company. They may be looking for something new, better pay, or simply a change of pace.
Why Has It Been Impacting Local Businesses?
The great resignation has been impacting businesses for a few reasons. First, the pandemic has forced many businesses to change the way they operate. This includes moving to a remote workplace or changing hours and operations. These changes can be difficult for employees to adjust to, which may lead them to resign.
Additionally, the financial impact of the pandemic has been hard on many businesses. This can lead to layoffs or salary cuts, causing employees to resign. The stress of the pandemic can be too much for some employees. They may feel burnt out or overworked. All of which can lead to them quitting their job.
Why is Employee Retention Important?
Employee retention is important for a few reasons. First, it can save the company money. Training new employees is costly and time-consuming.
Second, it helps the company maintain a good reputation. When employees leave, it can reflect poorly on the company. This can lead to difficulty recruiting new employees.
Finally, employee retention helps the company maintain a good team dynamic. When employees leave, it can disrupt the team dynamic and make it difficult to get work done.
How To Promote Employee Retention?
There are a few things you can do to still promote employee retention during the great resignation. Some of these strategies include:
According to Lina Miranda, VP of Marketing at AdQuick, “One of the best ways to promote employee retention is by offering flexibility.” This can include flexible hours, the ability to work from home, and other accommodations. Employees appreciate when they can control their schedule, and it can make them more likely to stay with a company.
Support the Remote Workplace.
Many businesses are moving to remote workplaces, and this can be difficult for employees. Be sure to provide the resources and support they need to be successful. This includes things like a quiet workspace, reliable internet connection, and the proper equipment.
“Be sure to communicate openly with your team about changes in the business,” suggests Cayla Gao, Head of Influencer Marketing at Depology. “This will help them feel informed and involved in the decisions being made.” It is also important to listen to feedback and address concerns promptly.
Offering Competitive Compensation.
Offering competitive compensation is always a good way to promote employee retention. Employees want to feel like they are being paid fairly for the work they do. Be sure to review salaries regularly and adjust them accordingly.
Improving Company Culture.
Improving company culture can go a long way in promoting employee retention. “Employees want to work somewhere where they feel comfortable and happy,” explains Emily Saunders, Chief Revenue Officer at eLuxury. “Be sure to create a positive work environment and provide growth opportunities.”
Creating Development Opportunities.
Creating development opportunities is another great way to promote employee retention. Employees want to feel like they are constantly learning and growing in their roles. Be sure to offer training and development opportunities to help them reach their goals.
Team Building Games and Exercises To Incorporate.
There are a few team-building games and exercises you can incorporate to promote employee retention. These include:
The Marshmallow Challenge.
This challenge is a fun way to encourage teamwork and problem-solving. In the challenge, teams are given a set of supplies and a set amount of time to build the tallest tower possible using only the supplies provided. This encourages cooperation and creativity.
The Balloon Drop.
This is another fun team-building exercise that can be used to promote employee retention. In the balloon drop, teams must catch as many balloons as possible in a set amount of time. This encourages teamwork and communication.
The Paper Airplane Challenge.
This challenge is a great way to encourage creativity and problem-solving. In the challenge, teams must design and build a paper airplane that can fly the farthest. This encourages out-of-the-box thinking and collaboration.
Two Truths and a Lie.
This is a great team-building exercise that can be used to promote employee retention. In the Two Truths and a Lie game, each person takes turns telling three things about themselves. Two of the things must be true, and one must be a lie. This encourages people to get to know each other better and builds trust.
This is a great team-building exercise that can be used to promote employee retention. In the scavenger hunt, teams must find a list of items in a set amount of time. This encourages teamwork and communication.
This is a great team-building exercise that can be used to promote employee retention. In the trust fall, teams must catch each other when they fall backward. This encourages trust and cooperation.
Name That Tune.
This is a great team-building exercise that can be used to promote employee retention. In the Name That Tune game, teams must guess the name of a song based on a short clip. This encourages teamwork and communication.
There are many different games and exercises you can use to promote employee retention. Be sure to choose ones that will work well for your team.
In Summary: Workforce Solutions.
With the nation as a whole stepping forward from the pandemic, businesses need to adjust too. “Many people have been vaccinated, and the world is slowly but surely opening back up.” encourages Serdar Ozenalp, Co-Founder and Managing Director at Ocoza. “However, there are still some challenges that businesses face.”
One of the biggest challenges is the great resignation. There are several things businesses can do to promote employee retention. Some of these include supporting the remote workplace, communicating openly, and offering competitive compensation.