Coping with the ‘Great Resignation’
By Sarah Rose Stack
You’ve just woken up. As you sip your morning coffee, you open your e-mail and give it a quick glance. Wedged in between your work and personal mail, you have several e-mails with the subject line ‘We’re Hiring’ or ‘Join Our Team.’ You switch over to social media and see that your neighbor just announced she’s left her place of employment for a new opportunity. There are few more posts from friends who are frustrated with their employers’ lack of communication or insistence on returning to the office.
How many ‘We’re Hiring’ signs have you seen or talked about today?
There has been much discussion about the current hiring crisis, and while many thought that this would be resolved once Pandemic Unemployment Assistance ended, that has not been the case. In fact, the Bureau of Labor (BOL) recorded the highest number of people who quit their jobs in August 2021, with 2.9% of people quitting (4.3 million people). This is the highest number of quits since the BOL started recording this data in 2000. Probably even more concerning is that August was the sixth consecutive month of massive quitting numbers.
Coined the ‘Great Resignation’ by Anthony Klotz, a professor at Texas A&M, people are leaving their jobs at record-breaking rates as the pandemic is waning. This is only expected to be amplified as 2021 comes to an end and people reflect on what they want in life. Employees are demanding more from their current and potential employers. Companies should be very careful to pay attention to the change in dynamics if they want to retain or attract new talent to their workforces.
“Employees are demanding more from their current and potential employers. Companies should be very careful to pay attention to the change in dynamics if they want to retain or attract new talent to their workforces.”
As part of my position at Meyers Brothers Kalicka, I assist clients with finding new talent, such as controllers, accountants, HR, marketing, and other administrative professionals, for their organizations. Prior to the pandemic, I would see 50 to 100 applications from people in Western Mass. applying for every posted job opportunity. That number has drastically declined, the geographical representation has widened, and the questions and concerns from potential employees have also significantly changed.
So, what are employees expressing that they want? Here’s a hint: it’s not just about salary. People had a lot of time to reflect during the pandemic about what work means to them and what role they want their careers to play in their overall lives.
Prior to the pandemic, Americans were obsessed with ‘hustle culture.’ People were happy to rise and grind and wear their burnout like a badge of honor. Perhaps people were too distracted working around the clock to ever consider what they truly wanted. You’ve probably noticed the shift in sentiment in social media from #hustle to the idea that inner peace is the new success.
Working through the pandemic came with its own unique set of stresses. Some workers had to compensate for poorly staffed jobs, while others lost a feeling of security at their jobs, causing them to work even harder to show their value. Indeed recently posted a study that surveyed 1,500 employees about burnout, and a shocking 80% of people said the pandemic made the burnout worse.
As a result, potential employees have been asking:
• What is your company’s view on work/life balance?
• Does management regularly e-mail or call after hours or on weekends?
• Is the schedule flexible if I have a family event or event for my child?
• Do people actually take their paid time off?
According to PR Newswire, “poor work-life balance tops the list of job-seeker deal breakers, ranking above other immediate turnoffs, including lower salary (50%) and a company’s decreasing profits and lack of stability (48%)”.
Flexibility and Remote Work
Employees are actively seeking remote or hybrid work opportunities just as many companies are now demanding that employees return to in-person work. Some have even pre-emptively started seeking flexible work opportunities out of fear that their current remote-work situation might change.
Many are expressing that the ability to work from home and have more flexible work schedules in general have helped to prevent burnout. People have enjoyed ditching the morning commute and 5 p.m. rush hour. The returned pockets of time have come with myriad benefits, including more sleep, more time with family before and after work, less wear and tear on vehicles, more time with pets, and an overall more comfortable environment.
It isn’t all hypothetical, either. Stanford conducted a study of 16,000 remote workers over a period of nine months and showed that productivity increased by 13%. Further, with more workers reporting they were happier working from home, attrition rates were cut by 50%.
Time is the only non-renewable commodity, so when employers are demanding that their people return to in-person work, employees are asking themselves, “at what cost?” The most-asked question I have received from potential employees over the last year is: “can this position be done fully or partially remote?” If the answer was no, most candidates politely declined to continue in the application process, presumably in favor of remote opportunities.
I would also attribute the increase of applicants from other regions to the normalization of remote work. I’ve seen applications from all over the country because most people in professional positions are now of the mindset that they can work for anyone, from anywhere.
Company Culture and Shared Values
At its core, company culture is its identity. It’s how the company’s values, attitude, approach, and ideals dictate the inner workings of the organization. Generally, this is set and modeled by the leadership and then mirrored by the people within the organization, driving the way the company does everything.
Companies with attractive corporate culture actively value their people in ways that are both tangible and intangible. They may have perks such as food, drink, cocktail hours, paid time off, tuition reimbursement, and professional-development opportunities. More than that, they will also have a solid mentorship program, encourage open communication, speak to each other with respect, and show clear indicators that the work and growth of their people are valued.
As part of corporate culture, shared values are another important consideration for many job seekers today. Whether they are directly impacted by certain causes or not, they are looking to work for companies who have values that align with their own. Employers need to understand that potential employees are doing as much vetting and interviewing of the organization as the organization is doing of them.
Employees want to know what your company culture is like and what your values are. They are asking direct questions such as:
• What is the company’s leadership like?
• Describe the company’s culture.
• Does your company have a diversity, equity, and inclusion (DEI) program?
• How does your company implement its DEI statement?
• How involved is your company in the community?
• How does your company handle discourse among employees?
Pandemic Protocols in General
While we all have pandemic fatigue and want the pandemic to be over, there are still so many open issues that need to be faced head-on. Potential employees are very concerned with how companies handle current guidelines regarding masking, social distancing, quarantine, and vaccination.
This would be simple if everyone had the same passionate stance on the subject, but they don’t. Employees tend to be divided into three camps: Those who wants the strictest protocols in place, those who prefer more lax protocols, and those who are indifferent and will simply follow whatever protocols are set. Regardless of which camp your organization falls into, companies should be aware that their response to these questions will either encourage or deter certain prospects from continuing with the interview process.
I’ve found that most candidates were generally satisfied to hear that the organization is simply following the current federal, state, and municipal guidelines. In addition to the actual protocols, candidates have been very concerned with how those protocols are communicated. They routinely ask:
• Does the leadership communicate changes to protocols in a timely manner?
• Have they listened to employees’ questions and concerns?
• Are protocols safe, fair, and reasonable?
We are in an employee market, and employees want the best of it all. They want work-life balance and more remote-work opportunities, but also want to feel connected with their company’s mission and their colleagues.
This may feel like an impossible balance to achieve, but I believe it can be done. People want to work, they want to feel connected, and they want their work to mean something. That’s the good news. Companies who understand these needs can take action and translate them into powerful employment opportunities that almost certainly will yield happier and more productive workers, better products and services, and stronger businesses.
Sarah Rose Stack is the Marketing and Recruiting manager for the Holyoke-based accounting firm Meyers Brothers Kalicka, P.C.