We are living in the times of the Great Resignation!. Over the last few months, according to the Bureau of Labor Statistics, 4.4 million people quit their jobs in the month of September 2021 with the numbers reaching as high as 19 million since April 2021 in the United States. A study by Gallup states that the cost of replacing an individual employee is almost 1.5 to 2 times their annual salary. So what are we actually missing? The answer is quite simple actually. To Look Within. Understanding employee sentiment and being there for them and with them in the moments that matter the most.
Each one of us has been through a mixed set of emotions throughout the pandemic. While some of us have lost our loved ones, all of us have suffered to some extent and have yet managed to stand tall, join the morning calls and still offer our services with the best of our abilities. According to Microsoft’s work trend index, 1 in 6 (17%) has cried with a coworker, especially those in healthcare (23%), travel and tourism (21%), and education (20 %). We have somehow realized that we can’t be high-functioning robots all our life and must adapt to changes and support each other with empathy.
Actively listening to, respecting, and acting upon employee voice is the key to truly being in sync with employee sentiments. Leaders who are thinking that employee attrition is only in specific industries are misguided. This phenomenon has been observed across all industries alike. Understanding employee sentiment is the key to stop our best talent from abandoning us.
Also, employees are also willing to leave the companies without even having another job at hand. This makes the great resignation very different. 36% who had quit in the past six months did so without having a new job in hand. Employees in the United States were the most likely to say they had left their old jobs without a new one (40 %). At the industry level, 42% of healthcare and social-assistance workers who quit did so without having a new job—a reminder of the pandemic’s toll on frontline workers. One-quarter of white-collar employees who quit said they had done so without having a job lined up, a finding that held across income levels. Are our employees unhappy?
Yes, something has definitely changed and the leaders must put all their efforts into determining what has exactly happened. The top three factors employees cited as reasons for quitting were that they didn’t feel valued by their organizations (54 %) or their managers (52 %) or because they didn’t feel a sense of belonging at work (51 %). From accepting that there is a problem to identifying its cause, it’s a journey that will strengthen the employee experience.
While the task seems mammoth, it can be achieved by investing in technology that will help in listening to the employees to find out the real issues. Berryworks, a deep learning employee voice platform can help. Berry is a digital personality that can be an HR leader’s strongest ally and every employee’s biggest confidant. Berry can help measure and improve employee happiness. Berry uses deep learning to interact, interpret and drive accountability using actionable patterns that it learns. Berry is available to answer simple questions and is capable of having complex conversations with employees. HR Leaders use Berry to run campaigns that help them to understand the pulse of the organization around various topics. Conversations are then analyzed and actionable insights are drawn out instantaneously.