For the first time since records began, there are now more job vacancies than unemployed people in the UK. Between January and March, unemployment fell to 3.7% – the lowest rate for nearly half a century – while new vacancies reached an all-time high of 1.3 million. Compounding this is the fact that post-pandemic, many people have re-evaluated their work-life balance ideals, including how, when and where they want to work. 
So, what can you do as an employer to counteract the impact of The Great Resignation?
- Consider lifestyle expectations Today, employees expect an employer will allow them to balance how they work and their income needs with their desired lifestyle.
- Embrace side hustles The concept of monetising a hobby or interest comes naturally for many employees. Businesses must exercise flexibility in job design, accommodating the need for individuals to engage in side hustles.
- Instil a Sense of purpose Through performance conversations and ongoing education, employers must actively promote and reinforce a sense of purpose in employees at all levels.
- Make core values resonate Employers need to make sure that the core values of their organisation resonate with employees and customers alike. Think employer as well as market brand.
- Add value to the employee experience Creating clear, positive differentials will engender loyalty in current employees and attract new people, giving them a reason to choose a business over its competitors. For example, wellbeing focus over gym membership discounts.
- Recognise great work Recognition costs little or nothing, but its power should not be underestimated. Employers who take time to recognise exceptional and not take it for granted – specifically rather than generally will retain their good people.
Do You Need Help Responding to The Great Resignation? Competition for resources in a reduced labour market together with a seismic shift in employee expectations represent a perfect storm for business owners. Organic P&O Solutions can help ensure you keep your best people – and have your pick of the talent pool. Call us today to learn more about how Organic P&O Solutions can help you implement a bespoke strategy that will help you retain and incentivise your ideal employees. 
