What We Must Do Now to Stop the Great Reshuffle of 2022
The last few years have seen record high earnings for businesses and low employee morale. This two-sided process has resulted in mass layoffs and resignations and has been dubbed the Great Reshuffle. Is there a way to slow it down?
Today, we chatted with Ausrine Cebatore, VP of Sales and Strategic Partnership at Kilo Health. She shared the principles that might help enhance the employee experience.
What recent trends show you that employers might not meet the employee needs in the workplace?
I would emphasize two trends that are affecting both employers and employees.
First, post-lockdown, millions of people were laid off or made to retire early in an attempt to optimize business costs. The layoffs continue today, with big companies such as Tesla, Shopify, or Netflix saying goodbye to their highly skilled workforce. This impacts how people in every industry see their job security and, in turn, reduces employee loyalty and retention.
Second, people got used to working in an environment that inspires them. It can be anywhere — the office, a coffee shop, a friend’s house, or a public park. Also, they got used to combining their daily responsibilities with work duties. Just think about getting groceries during the lunch hour, or picking kids up from school during a break. Moreover, if your commute takes a large chunk of your earnings, you will surely prefer to work from home.
This creates new challenges for companies to find ways to bring employees back to the office. How can we create routines that combine flexible work. If a company cannot provide this flexibility, people tend to leave. In May 2021 alone, 4.3 million people quit their jobs due to inadequate pay or inflexible working conditions. One in five people working today plan to quit in 2022.
This process is called the Great Reshuffle. And both, optimizing your workforce or voluntary leave, create tension.
People who are staying with the company experience stress and a higher workload. Thus, companies need not only to find relevant replacements but spend more resources to ensure high morale and engagement.
Why is it important to ensure employee loyalty in the time of the Great Reshuffle?
Low employee loyalty is a very costly problem for businesses. The Society for Human Resource Management (SHRM) reported that, on average, it costs a company 6 to 9 months of an employee’s salary to replace them. Not to mention delays to customer projects, deliveries, hurting the team’s morale, creating stress, and additional workload for the immediate team.
After salary, job fulfillment and the ability to be one’s true self at work were ranked second and third among employees considering a job change, respectively. I want to stress this one: the ability to be one’s true self at work. I would encourage employers to consider this when arranging workplace perks and benefits they offer to their employees.
Giving a choice is usually the right path if your company can afford this. It allows your people to fully own their work process (and their results).
Working from home or the office, choosing the working tools, sponsoring membership to a local gym or digital programs, and caring for elderly parents, children, or dogs are all options. We are all unique and seek fulfilling work that allows us to be our true selves.
How can businesses increase employee engagement and create more value for their people?
The Society for Human Resource Management survey found that 92% of employees consider benefits an essential part of their overall job satisfaction. According to the observations, 29% of workers would leave their current company for a better benefits package, while 32% would stay because of good employee benefits.
Focusing on the benefits package, especially health and wellness benefits, is a good way to start. You can ask yourself if your program encourages people to take some time during the day to relax, reflect on their emotional well-being, be more physically active, and build better eating habits.
This is a simple but powerful truth: healthier people mean healthier business. When someone is well-rested, feels no pain, and is in top health, they will be more productive, positive, and miss fewer days. And the list goes on and on.
Similar programs do not have to be expensive. For example, we can add some time to your team’s calendar for a walk or deep breathing meditation sessions.
Employee appreciation is another area that can provide you with some quick wins. Begin with simple steps such as initiating a public appreciation program where team members can publicly express their gratitude to their colleagues. Again, you can combine flexibility and authenticity by encouraging your employees to be their genuine selves at work.
If you have a small budget for gifts, let it include choices that make sense for each team. Even better if your appreciation connects with the underlying idea of allowing your team member to relax and improve their overall well-being.
What are the top benefits an employer offers that are the most important for people working in the office or remotely/hybrid?
Here, I would stress flexibility again.
If you offer a gym at your office, you should match it with a digital training option for those who work remotely. If you sponsor psychologist sessions, you should offer a telehealth option or a mindfulness program in the digital realm. It is not only about removing physical barriers, like finding time to commute to the office. More importantly, different people prepare different ways of dealing with their needs.
For example, it might be too scary for someone to take that step and meet a mental health professional. However, they might be ready to invest more time in self-care in a safe and anonymous digital environment. For example, following a program built by professionals and designed for them.
What is one thing leaders should start doing today to stop the Great Reshuffle?
I believe that the key is learning to listen. It’s a simple but crucial truth. If we learned something from the past few years is that we all have different needs. As an employer, you cannot offer the same employee experience for a new mom who works from the office, a part-time manufacturing expert who is close to retirement, and a sales professional who spends most of their time on the road.
While all of them are equally valuable to your company, in many cases, not all of them get access to the same benefits. Or they simply can prefer to shape their lives to a different standard — which makes sense as they are at different stages of their careers.
If you want to keep them working at their peak productivity, you must learn to hear how they prefer to work — and personalize their experience both on-site and online.
Would you like to be the change the world needs?
Chat with Ausrine on LinkedIn or join her B2B team that helps businesses transform the employee experience.
Visit careers page here
