For months workforce analysts cried out we have entered into a period coined “The Great Resignation.” People are leaving their jobs at alarming rates. In February 2022 alone, a record 4.4 million Americans quit their jobs.
Anthony Klotz, a professor at Texas A&M University is often credited with coining the phrase “Great Resignation.” He pointed out that “There’s now a greater ability for people to fit work into their lives, instead of having lives that squeeze into their work.”
What has become abundantly clear is that workers are not just leaving the workforce altogether. Instead, they’re moving on to new opportunities more suitable for their lifestyle. Whether that be better pay, work from home options, scheduling flexibility or simply something more professionally fulfilling.
So, the cold hard truth is your employees are not leaving work behind. They’re leaving you behind for someone else. The workforce is re-shuffling. They see greener grass elsewhere.
Water Your Lawn
What can employers do to retain their talent before they’re shuffled in the deck? Keep your grass green. Knowing workers are leaving for better pay, schedule flexibility and professional fulfillment – now is the time to evaluate your employee value proposition. Ask yourself:
- Are your pay rates competitive with the current market?
- Is your industry capable of sustaining remote work options?
- If not, is there an alternative to give employees more freedom of schedule choice?
- What training and development opportunities are you offering current employees?
- Are you weeding out toxic management and/or employees?
The Best EVP Wins
Employers with the best Employee Value Proposition will ultimately come out on top. The employers who fail to water the lawn will continue to push talent into the marketplace. In a market this volatile, employers will be one of two things: A source for talent, or a talent destination. The latter has everything to gain from the great re-shuffle.
If you think you have the best lawn in the neighborhood and want to get the word out – schedule a consult with one of our talented recruiters. Our role in the great re-shuffle is the same as it always has been: To identify and attract talent to the best employers out there.