The Great Resignation: Why are people resigning post Covid-19?October 15, 2021
As the pandemic reduces its impacts on daily life, many people are leaving their jobs or contemplating a career change. Under normal circumstances, a large number of resignations in a healthy economy hasn’t been an issue. However, the current conditions are far from normal, and businesses are now dealing with potential labour shortages from what some are calling the ‘Great Resignation’.
Covid-19 has given people various reasons to change direction. Many are searching for happiness, higher salaries, a career change as well as job flexibility. As a result, people are now more selective about where and when they’d like to work right from day one.
Put simply, the majority of the working population are re-evaluating their value in the workplace and how they’d like to spend their time. The rise of remote working in 2020 has shifted people’s mentality about work and brought about a change to people’s hearts.
Importance of employee retention
Offering more flexibility will be essential to businesses moving forward, but how else can companies sustain Employee Retention?
Employee retention put simply is when a company’s aim is to keep talented workers by nurturing a positive environment and promoting Employee Engagement. This can be achieved through expressing appreciation, rewarding hard work, providing competitive pay and offering attractive Employee Benefits.
Approximately one employee costs the company around 6-9 months of income in recruitment, induction, training and other expenditures. Thus, small to medium-sized organisations can significantly reduce operational costs by improving their retention power. High Employee Retention Rates should also prevent productivity losses, as workers are often more engaged and motivated, meaning more work can be done and to a higher standard.
The Hive360 solution to improve employee retention
Engaged Employees are the ones that develop strong customer relationships and teams that have had time to collaborate in a positive culture tend to be more dynamic. For this reason, we empower companies to listen to the needs of their workforce for better engagement and to increase employee retention.
Hive360’s Employee Engagement Platform is designed to improve staff experience, productivity, and help your business generate higher levels of revenue. The Employee App will support your company and provide your new and current staff with:
- An Employee Benefits Package featuring a range of discounts, physical health services and essential Mental Wellbeing Support.
- Training Opportunities to support career progression for your staff.
- Safe and secure Payroll Access and pensions dashboard for all employees.
- An immediate and powerful communications platform to keep your team informed and to share feedback and recognition
In summary, this is a mobile app that has a range of features that will greatly help with retaining staff. To find out more about the Hive360 integrated app’s Features and Benefits, as well as its capability for employee retention, Book a demo and let us show you how it works.