A majority (79%) of UK workers and US workers (70%) are considering leaving their current job, according to a study by WorkHuman of 2,268 full-time workers across the UK, Ireland, US, and Canada.
This is part of the trend known as the ‘Great Resignation’. A leading reason for their departure is burnout; due to COVID-19 there has been an increase in workload and expectations of employees, causing less motivation and productivity in the workplace.
52% of hybrid workers and 44% of remote workers told WorkHuman they felt obligated to work while sick when they’re working remotely. This is only exacerbating burnout as the line between work and personal time becomes increasingly blurred.
Hybrid and on-site workers felt a stronger sense of connection to colleagues and to their company culture than fully remote workers.
60% of people said they feel somewhat or very appreciated for the work they do, which is surprising considering half (49%) of all workers said they had too much work to do over the past year.
Appreciate employees more to retain them
In light of these findings by WorkHuman, it is clear that companies need to step up their appreciation for employee’s hard work in the ‘Great Resignation’.
When the cost to acquire new talent is up to two times the salary of a lost employee, it is crucial for companies to focus on a people-first approach to retain their employees.
According to Workhuman, those who are thanked in the last month are half as likely to look for a new job (24% vs. 48%) and, more than twice as likely to be highly engaged in their work (48% vs. 21%), and more than three times as likely to see a path to grow in the organization (59% vs. 19%).
Humans thrive off validation. A gesture as small as a simple thank you can be the key to success in keeping employee retention amid the ‘Great Resignation’. Ultimately, a ‘thank you’ makes an employee and employer relationship more human and authentic.
According to Chris French, executive vice-president, at Workhuman, “The one easy fix that has a big impact – expressing appreciation – is nowhere near where it needs to be.
“It’s a proven fact that recognition has a positive effect on retention, engagement, productivity and so many more factors that can help a business improve its culture and its bottom line.”
“Organizations need to lean into their thank you muscles, or they’ll continue to say goodbye to their employees.”
It is clear that appreciation in the workplace contributes to the overall connection between colleagues which ultimately reduces total turnover. People who see turnover around them are more than twice as likely to be looking for a new job themselves (48% vs. 24%).
The majority of these turnover employees (62%), state they would return to a former employer – known as boomerang employees.
Remember to build human connections and thank your employees, if you want to keep your top talent and thrive in the ‘Great Resignation’.
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