Can the “Great Resignation” become the “Great Retention”?
Yes Virginia, there is a Great Resignation, but our data shows the tide can be turned to your favor.
A story dominating headlines and HR executives every thought is one of workers leaving their jobs en masse. Recently, The Predictive Index surveyed 1,906 employees from more than 15 different industries. The goal was to understand what exactly is contributing to this “Great Resignation,” and see whether managers impact employees’ decision to stay or leave.
At AMP Human Capital, we were also curious to see which return-to-office strategies are faring better for retention and engagement. This trend appears to have originated from the service sector —and understandably so. COVID-19 radically altered the nature of face-to-face interactions, and even now, health and safety concerns persist. Understandably, many workers are afraid to return to an unsafe workplace. But as other industries return to on-site operations, they’re encountering similar retention issues. As our research uncovered, this attrition often has less to do with physical safety, and more to do with psychological safety.
We look forward to sharing not only our insights but stories from the front-line manages like yourself to turn what seems like a negative into a positive for years to come. We’re always ready to listen and learn as well as share the insights from data we glean from HR professionals and employees.
Trends AMP is Watching:
48% of employees have thought about changing careers within the past 12 months.
For employees, this Great Resignation isn’t simply a matter of quitting; it’s an opportunity to strike off on something new. The study began by asking respondents whether they’ve contemplated a career change in the past year. Nearly one in two respondents said yes. Of those who have considered a career change in the past, 57% are thinking of leaving their company within the next 12 months. Thankfully, contemplation doesn’t have to mean action. For leaders looking to mount their own “Great Retention,” it’s crucial to stop the attrition boulder before it gets rolling.
79% of people “feel comfortable” working in-person post-COVID.
The big question, of course, is “why?” Why are employees so eager to pack up and leave? One possibility is that workers—such as those at restaurants or in retail—feel unsafe physically in their current jobs due to ongoing health concerns. When asked whether they feel comfortable working on-site or in an office from a health and safety perspective, nearly 80% of employees said yes. What’s more, this average was relatively consistent across industries—for retail, sentiment was even higher than 80%. So what else is it about?
Stories AMP is Tracking:
Management Lessons from James Bond, For The Post-COVID World
COVID-19 Workplace Safety Guidance Issued for Federal Contractors and Subcontractors Imposes Major New Employee Vaccination and Other Requirements
New HIPAA Guidance from OCR on COVID-19 Vaccines and the Workplace
AMP Fun Fact of The Week:
Peanuts aren’t technically nuts
They’re legumes. According to Merriam-Webster, a nut is only a nut if it’s “a hard-shelled dry fruit or seed with a separable rind or shell and interior kernel.” That means walnuts, almonds, cashews, and pistachios aren’t nuts either. They’re seeds.