The Great Resignation: How HR Initiatives can Increase Retention & Engagement

Feb 24th, 2022

The Great Resignation: How HR Initiatives can Increase Retention & Engagement

In November 2021, 4.5 million people voluntarily resigned from their positions. Companies nationwide are being impacted by this all-time high wave of employee departures. Even if your organization is not seeing a wave of resignations, there is always an opportunity to assess your current company culture and look for ways to improve the employee experience.

In this article, we will discuss six human resources initiatives to improve retention and engagement in one of the tightest labor markets in history. Number three might surprise you!

Culture & Engagement Surveys

According to recent data, the majority of employees who resigned from their positions did so because they found a new job. However, there are other common reasons for resigning, such as unhappiness with management or a desire for more challenging work. Flexibility and work/life balance are increasingly crucial factors for many employees. As a company, it is important to understand what your employees want to keep them engaged.

Unsure where to start? Employee surveys are a terrific way to measure engagement levels. A survey provides transparent data which can assist employers in understanding what their employees want from their job and company experience. Conducting an engagement survey before employee departures allows you to be proactive and improve the employee experience. The survey will also help to identify engagement drivers and inhibitors. Collecting this data allows the employer to focus on creating or enhancing programs that satisfy the needs of their employees while highlighting the company's dedication to engagement.

Roundtables & Open Communication with Leadership

Leadership roundtables are another fantastic way to improve engagement and retention. This is an opportunity for leaders at all levels to discuss challenges, successes, and strategies. The dialogue that takes place during these meetings can help employees feel more connected to the company and motivated to stay engaged.

Stay Interviews

For our non-HR professionals, this may be a new concept for you! A stay interview is an open conversation with an employee who is not actively looking to leave the company. The goal of a stay interview is to understand the factors that are impacting the employee's decision to stay. By having this discussion, you may be able to identify issues before employees even think about resigning, which allows you to be an initiative-taking employer.

Defining & communicating an HR Strategy

The development of an HR strategy is another critical component that contributes to engagement and retention. Having a clear HR strategy that aligns with the company's overall objectives can help to improve employee engagement levels. When employees feel like they are part of something larger than themselves, they are more likely to be engaged and motivated at work.

Employee Wellness

Employees who feel good about themselves, their work, and their company are much less likely to leave. Wellness programs offer employees the opportunity to improve their physical, emotional, and mental health. Flexibility and providing employees benefits such as mental health days are great ways to show employees that you care about their well-being.

Defining & Communicating Career Growth

According to a study by the Society for Human Resource Management, career progression is one of the top reasons employees resign.

Career growth and understanding your upwards potential is critical to keeping your employees engaged and retained. Employees want to feel like they are making progress in their careers and have opportunities for advancement. Career growth can also be fostered through learning and development opportunities, mentorship programs, and job rotations.

In Conclusion

Companies no longer have the option to avoid or overlook feedback from their employees among the current wave of resignations. If you notice a dip in engagement levels after a wave of resignations, it is important to take swift action. Implementing change can be difficult, but if done correctly it shows your company’s willingness to make improvements.

Having complete leadership commitment is critical if implementing new HR initiatives. Soliciting feedback and failing to commit to change may have the opposite effect and lead to a more disengaged work environment.

If you are looking for more information on how to retain employees and engage your workforce, contact The O'Connor Group today!