Should I Stay or Should I Go Now... / Please Don't Go!
Editor’s Note: This article was originally published in the July 1, 2021 Newsletter
We're entering a period of enormous employee turnover - which side of the equation are you on? What do you need? And how are you going to get it?
Whether you're an employee anger-humming The Clash or a nervous employer retro-whispering KC & The Sunshine Band, recruitment and retention are front of mind. As we come out of the pandemic, there's pent-up demand in many industries and workloads are high. People are exhausted, anxious, and stressed after the last 18 months. Employers are seeing loyalty from employees who felt supported during the pandemic - and paying the price of losing employees who felt undervalued or disrespected.
So what's to be done?
If you're responsible for staff retention, don't wait! Get ahead of employee unhappiness, so you're not fighting to keep people who have already decided to leave. Stay interviews, benefits and compensation analysis, culture tending, and professional development all have a place in a comprehensive retention strategy - the right recipe should be tailored to your firm.
If you're shaping your own career, make sure you know what you want next. If you haven't set a destination, how will you know when you're on the right path? Identify what you need for job satisfaction, and craft an individualized plan to get there. We've got tips for you, too.
For us, the key metric for happiness at work is discretionary effort. Our paychecks - and a sense of integrity - drive compliance. Going above and beyond is what we do when we're happy, motivated, and committed. It's what makes the difference to productivity and to happiness at work. When we see discretionary effort in the workplace, we know things are going well... for both employer and employees. Are you bringing discretionary effort to your work today?
Setting the context: What the heck is going on?
The job market is topsy-turvy. Whether it's the great resignation commentary or the Pulse of the American Worker Survey: Post-Pandemic Work & Life from Prudential Financial, the data points to historically high levels of employee mobility.
In Slalom's recent Unboxing Work presentation, participants discussed the hybrid work future and emphasized the importance of equity in the post-pandemic workplace. Employees are demanding flexibility of both schedule and location, and employers are exhausted from the challenges of constant adaptation. How do we meet in the middle, with satisfied employees at thriving businesses?
“Flexibility, real life, is here to stay.”
― Michael C. Bush, CEO, Great Places to Work
Employee Retention - Proactivity counts
Many of the subtle signs of employee dissatisfaction are invisible in the era of remote and hybrid work. It's not just the "ouch" moments (resume on the printer, anyone?). It's being able to sense disengagement from usually committed team members, or checking in with colleagues before and after meetings. Where to start?
Maintain informal relationships - whether brief one-to-one phone calls or predictable office hours, make sure you're accessible to your employees. And don't wait for them to reach out first.
Conduct stay interviews - there's a guide from SHRM here.
Invest in professional development - of the 26% of the workforce Prudential's report identifies as planning to change jobs post pandemic, 80% are concerned about career advancement. If you're not sure where to start, reach out to us. We'll share planning questions for you to consider.
It's important that you operate with sincerity. Retention is not a transaction; it's a mutual commitment. Listen deeply, deliver on your promises, and invest in a culture that makes people want to stay.
Career Pathing - You're at the helm
The person most responsible for your career path is you. Know what you want, test to see if you can meet those needs with your current employer, stay if you can, find the next right opportunity if you can't. Sounds simple, right?
Know what you want from your career - Designing Your Work Life by Bill Burnett and Dave Evans is a wonderful tool. In addition to the book, their website has a lot of resources. Get to know yourself (whether solo or with a coach). Rubrics like the Johari Window can bring real insight.
Maintain your career collateral - when did you last look at your LinkedIn profile? Are you active on the platform? Is your resume current and accurate for what you want rather than just more of the same?
Keep your skills up to date - make sure you're staying ahead of the curve on both technical and technological knowledge. Whether repositioning yourself at your current employer or seeking new opportunities, be a perpetual learner.
A note of caution: it's important to be realistic about career opportunities, especially at a time of salary competition. Do the work to understand what's available that meets your needs and do the research to manage your compensation expectations. There's often a difference between happy hour salaries and offer letter compensation - don't get caught on the wrong side.
