Boosting Retention in The Great Resignation

So many people are quitting their jobs that the phenomenon has been dubbed the Great Resignation. The situation is so severe, that some employers have seen up to 30 percent attrition in top categories. Writing in the Harvard Business Review, Frank Breitling and Julia Dhar of Boston Consulting, drawing on extensive surveys and interviews, suggest six strategies employers can implement to boost retention during this tumultuous time:

1. Incentivize loyalty: Besides updating compensation, consider offering employees one-time bonuses, help with paying down student loans, or offering work-from-home stipends.
2. Provide growth opportunities: A significant predictor of engagement is how enthusiastically employees answer the question, “Does my job make good use of my skills?” Show you value potential by offering education and retraining.
3. Elevate purpose: The authors’ analysis shows that “in turbulent times a belief in what an organization is trying to achieve is even more important than in quieter periods.”
4. Stress connection and culture:  Make time to connect and build relationships with, and among, your employees.
5. Invest in employees and their families: Everyone has made sacrifices during the pandemic. Do what you can to help, including providing or subsidizing day care, and offering more paid time off.
6. Embrace flexibility: The future of work is going to be providing flexible work environments in terms of time, place, job description, and career paths.

 
Is your organization being impacted by the Great Resignation, and what is being done to address this? To join the conversation, click "comments" just below the photo at the beginning of this article.  We really look forward to your feedback!

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