How HR Leaders Can Survive And Thrive During The “Great Resignation”

Review every talent program, policy and practice for a hybrid world

Much has been written about the Great Resignation – why it is happening, what to do about it and when it might subside. Recent surveys show that 41% of workers globally, as well as 54% of Gen Z workers, are thinking about handing in their notice, seeking a change or a rest.  

Regardless of how big the number of employees who leave your company, there is likely to be hiring to replace these departures, especially as companies come out of the craziness of 2020 and see the economy and markets stabilize and grow again. The constantly evolving list of open roles puts pressure on recruitment teams and hiring managers to fill existing roles.

There are opportunities for companies to respond and to stem the tide of leavers who are looking for a change, and to win the war for talent as we see an influx of job openings and a market full of candidates who have more conviction about what they want in their next job.

Some companies may be hybrid, others remote-first, but the smart ones have declared what they are going to be and are sticking to that decision. The wise companies are not spending time deciding a remote strategy but agree that it is important to incorporate flexibility. LogMeIn’s Research found that 66% of employees are happier working remotely and 83% are more likely to stay at a company if given the opportunity of work flexibility. Companies should turn their attention to the foundational pieces to ensure hybrid work is an enriching experience, no matter if you go to an office two days a week, once a month or never. This means HR leaders should review every talent program, policy and practice and reimagining it for a hybrid world.

There are advantages to any organization that can play in a wider talent pool, starting with improved diversity and more choice of candidates. Maybe the role cannot be truly “anywhere” but posting a job with a preferred time zone versus attaching it to a specific city can open the aperture to many more potential hires, leading to faster hiring or quality talent. In fact, new research shows that more six-figure job openings are remote than based in big cities. We may have all spent the past 12+ months working in a remote world, but it doesn’t mean we became experts on how to do it right.

Mastery of most new skills requires learning and practice, and then adapting and evolving a best practice for personal fit. The companies that do this well are investing in development for their managers to enable them to thrive at leading in a hybrid environment. A series of development offerings could include hiring, looking for self-sufficiency, as well as core job skills, learning how to build team spirit for a dispersed group, how to communicate effectively with each individual team member when many of their interactions are online, or when to use in person or asynchronous communication.

Per online vs. in-person communication, if your organization is pushing for fewer meetings and less desk-bound time for employees, consider investing in training on writing skills, helping everyone communicate more efficiently and effectively with each other, without needing to jump into a meeting.

The interplay of remote work and compensation has been an interesting one to watch with some big-name companies declaring their position, often signalling that a reduction in pay will go hand in hand with a move. The pandemic forced many companies to adopt cost-savings measures and now many are re-thinking their compensation strategy as well as their real estate costs. In fact, 56% of remote work decision-makers identified their number one priority for flexible work to be reducing costs.

However, if saving money is the main driver for pushing remote work, including salary cuts, be wary of the hidden costs in the short term as employees leave, attrition rises, and workflow is impacted. It is certainly possible to bank some of the savings, but it is wise to put some of those dollars back into new investments, whether those be new employee WFH benefits, wellness offerings or money for local team get-togethers. Those investments will produce a strong return and ensure stronger employee engagement while simultaneously helping the bottom line.

Internal mobility, flexible work schedules “proper” vacations and empathetic leaders can all play a factor in influencing someone not to leave their company but to find a new role or new opportunity at the same place. Many workers continue to move on but where possible, companies should celebrate their growth at their company and how that had led them to a new role somewhere else – maybe they will come back one day and bring new skills and experiences with them. Companies cannot save everyone but if they put their best foot forward in creating an engaging, flexible workplace, they may be ahead of many others in attracting new talent to fill those empty spots.