Staff Loyalty and the “Great Resignation”
Many employers have relied upon staff loyalty in the past to keep their workforce stable, but with the significant impact Covid-19 has had on employees’ working arrangements, that has all changed.
Many employees have experienced working from home or other flexible variations on their previous working arrangements. Others have re-prioritised family commitments or found that childcare provision they had relied upon is no longer available. That coupled with the fact that competitors may be offering other incentives (which may now be valid options if geographical restrictions no longer impact as much as they did when remote working was not as common) will play a big part in employees’ decisions as to whether to stay or look for another job.
Traditionally people start looking for job opportunities in the New Year when they have made resolutions to do things differently, and so many will be considering how they felt they were looked after during the Covid-19 Lockdown period. However, a survey of 6,000 workers conducted by Randstad fount that 24% planned to move jobs within the next three to six months. Furthermore, the survey indicated that there was a high degree of confidence amongst those workers that they would find a new job.
So, in anticipation of what is being billed as, “The Great Resignation,” employers should not be complacent, but review their offerings with regards to salary levels and other benefits to see how they compare to their competitors. You can no longer assume that an employee will want to stay, but there needs to be action to reassure employees that they have a good package and that their employer values them. If you have any questions about this that you would like to discuss, please do not hesitate to get in touch.
Posted on 25 Nov 2021