Beginning about 14 months ago, the Great Resignation still affects businesses across the United States. Every day, more and more businesses find themselves struggling to retain employees or fill existing empty spaces.
However, most of the businesses that are struggling with the Great Resignation did not encourage a work-life balance for their employees during the pandemic or did not pay their employees fairly for their services during the pandemic. If your organization is guilty of the same, you might be struggling to retain or hire as well.
But while it may seem that the damage is done, it is still reversible. Let’s take a look at some tips that can help you retain and even hire new employees during the Great Resignation:
Be As Transparent As You Can Be
High-profit margins for the business and low pay for employees don’t work in the post-pandemic world. While you may not want to reveal every information to your prospective or existing employees, you can inform them of how good, or bad the business is doing. The role of HR can be especially critical in communicating the facts and figures with the employees.
If the business is barely making a profit at present, inform the employees about it. Gain their trust by signing a document stating that their pay will be increased according to the increase in profits. If your business is already making a fair profit, consider lowering the profit margins and paying the employees as much as they deserve.
You need to also consider that your profit will be zero if all the employees left and you had to shut down the business as a result. Slow but consistent growth is better than being bankrupt and shutting down.
Formulate and Implement Work-Life Balance Policies
Work-life balance policies that benefit the employees can keep any business safe during the Great Resignation. Remember that the business relies on the workforce to run smoothly and efficiently. Without the workforce, urgent deadlines will never be met.
The role of HR can be crucial here. HR employees know more about employees than the owners and stakeholders. Take into consideration the domestic responsibilities and issues employees face. Allow more days off, flexible work hours, or facilities that ease the employees’ issues, such as daycare facilities for children.
Treat Them As Customers
Employees are any business’s first customers. A business that doesn’t care about its employees cannot convince its customers that they are cared for either. Showing genuine care and understanding of the employees’ demands can enable businesses to retain them. While the role of HR is usually to meet the best possible interests of the company, they will need to consider the best possible interests of the employees to keep the business open and to run.
Finally, if an employee wants to leave, make their last days as comfortable as possible. Holding off employees’ last paychecks or giving them a poor recommendation letter won’t do your business any good. Focus on those employees that are willing to stay to protect your business from the Great Resignation.
