THE EMPLOYMENT CRISISFeb 15, 2023
The state of the current workforce is presenting challenges that most leaders have never experienced. Honestly, the challenges that we are facing sometimes feel debilitating. Programs are closing their doors, businesses are changing their hours, supervisors are burning out and CEOs are frustrated. All of this because employees are leaving their jobs and exercising the right to choose how (and where) they spend their time in general and specifically their working hours.
Does any of this sound familiar?
The Society of Human Resource Management (SHRM) has identified the top five reasons that employees are leaving their jobs:
- Inadequate total compensation
- Lack of career development and advancement
- Lack of workplace flexibility
- Unsustainable work expectations
- Uncaring and uninspiring leaders
Complaints about salary are not new, but the number of open opportunities in the workforce makes this a different situation. Different times call for different (and sometimes uncomfortable) decisions. In order to retain and recruit employees, there are a few things that I recommend:
- Revisiting the pay structure, benefits, and perks
- Develop and disclose career advancement pathways
- Adjust schedules to meet changing needs of team members (i.e., hybrid, increasing part-time positions, split shifts, four-day work weeks)
- Revisit job descriptions and conduct position audits to determine the feasibility of the current organizational structure
- Review processes to eliminate inefficiency
- Offer recruiting incentives to current employees
- Involve employees at all levels in decision-making and changes
- INVEST IN LEADERSHIP DEVELOPMENT FOR CURRENT AND ASPIRING LEADERS
These are just a few ways to make your organization more attractive and to hold on to your best team members.
For more insight, I recommend reviewing The Better Workplaces on a Budget study which provides answers to the question: How can organizations improve their overall employee experience and increase retention without spending additional money?
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