The covid pandemic was a time that changed many things for all, as humanity was struck by an unprecedented misfortune. We fought through it by coping in different ways and embracing a new normal. One of these was working from home.
As our lives return to the former pace, we realize that remote work is possible, if not inevitable. The benefits of this shift are immense and far-reaching. Most of the employees feel empowered and enabled with this flexibility.
As offices open, employees have been reluctant to go back to the drudgeries of on-site work, starting a wave of resignations and reallocations. There is a widening gap between what the employees want and what they are being offered at work.
In December 2021 alone, around 4.3 million U.S workers quit their jobs. The highest number of recorded resignations over the last 15 years. The figures in January 2022 were just a little short of the peak, and the trend continues. Let's study the pivotal factors that contribute to workforce attrition.
Causes for the Great Resignations
1. Little to No Work-Life Balance
Gruelling pressure before and during the pandemic has scarred a generation of workers. They are burnt out and mentally exhausted. Covid has reaffirmed the importance of physical and mental fitness and made the lack-there-of evident.
Employees who stay away from family for on-site work, have long commutes every day, or endure irregular working hours are dissatisfied with their work. It also leads to poor mental health and a below-par work environment.
2. Urgency in Pursuing Passion Projects
The unpredictability of life has changed people’s priorities. Their dormant passion projects and dreams have found renewed momentum, leading to a departure from day jobs. Employees feel the urgency in pursuing work that aligns with their future.
3. Move to Roles That Support Remote Work
Service industries like hospitality and entertainment suffered significant losses in the pandemic. Many employees were laid off in the financial crunch for roles that did not support remote work. Therefore, employees are now shifting to roles that allow it as a means to secure their job from future uncertainty.
All these factors contribute to the ongoing wave of resignations. The antidote to this talent loss is to promote remote work across global teams and engage in an honest conversation with employees.
Ways to Tackle Attrition in Workforce
1. Provide Remote Work or Hybrid Models
The benefits of remote work are many and layered. It prioritizes employees’ needs such as more family time and freedom in choosing leisure and deep work slots. There is freedom and flexibility in remote work. Thus, employees have gained more control of their time.
Employers also save money by reducing office space and office-related logistics. Many companies have come forward with hybrid models that enable remote work as well as on-premise flexible work hours. Employers can enrich the experiences and retain talent by providing training for a smooth transition into these newer work models.
2. Global Teams Bolster Cultural Diversity
True camaraderie lies in employees being tolerant and respectful of each other and their cultures. A global team encourages cross-cultural discussion and nurtures different perspectives. Ideas that come out of such teams are robust and bias-proof.
Professional networks drive career trajectories, and a global workforce gives rise to global networks and opportunities. It expands an employees’ circle of first-degree connections and opens them to different career horizons.
3. Bigger Arena to Scout for Top Talent
Remote work opens a whole new world for talent scouting as employee location becomes insignificant. It enables companies to hire top candidates from different parts of the world.
The influx of candidates is bound to increase as job markets open worldwide, which might overwhelm the recruiting process.
Its simplicity makes remote work a win-win situation for both the recruiter and the employee. Remote talent hunting has become simpler with the power of automation. From onboarding recruits to salary crediting, everything is a seamless process.
4. Higher Pay and Rewards
Work friends in global teams can open doors to newer global collaborations and possibilities. It also builds a constructive attitude for brainstorming and dialogue. This enables the employees to add more value to organizations and to expect higher packages and rewards.
Remote work brings a new wave of globalization where individual employees and teams can be hired from different countries. It allows for normalization in pay and perks across the distributed workforce, resulting in higher compensation for the employees across the globe.
5. Promote Holistic Wellness and All-Around Development
A sharp mind breeds sharp ideas. Companies have started to invest in the holistic well-being of their employees with care packages, paid family time, and shorter workweeks. Employers also need to bring employee-centric policies that cater to their needs, like in-company transitions in career and lateral change of roles.
On-site employees experienced a disconnect with their personal lives earlier, leading to constant stress and fatigue. Remote work perfectly integrates personal and professional development.
Organizations that welcome these changes early will be able to hold their talents and experience growth. The need of the hour is to understand employees’ needs and move with the changing times. Global Teams and remote work are the future, and employers need to facilitate this transition for workers.
If you are wondering how to handle the endless digital responsibilities of managing a remote workforce, then get in touch with us today.