OpinionThe Great Resignation or the Great Rethink?
The Great Resignation or the Great Rethink?
“Despite companies verbalizing the need for greater internal development and agility, the lack of action has left employees to continue wondering if their futures could be brighter somewhere else,” writes Danny Shteinberg, Co-Founder, CMO & CPO, at Gloat
Future work cannot be designed based on one size fits all. Increasingly, individuals and organizations are seeking more flexibility - to choose the appropriate work models for their needs.
Education and training will become more relevant as lifespans and career timelines increase. How does this affect the worker? It will be much more relevant to consider employee skills and aspirations. At this moment, we are at a critical juncture. There is one foot in the past and one foot in the future as we are in a time of transition.
The Great Resignation entered our collective vocabulary in 2021, but new research shows that its impact continues well into 2022. A Gloat Research Group survey of over 1,300 workers and HR leaders reveals that while employee sentiment remains largely the same as when surveyed in 2021—high burnout rates, disengagement, and the belief that better opportunities exist outside their organization—HR leaders are beginning to take action, with nearly three in four reporting that new systems of agile work are being studied or implemented to re-engage their workforce.
Given that most employers are increasing their investments in employee engagement, the fact that most workers' sentiments remain unchanged is cause for concern.
As companies and employees alike look to adapt to the new ways of work, we sought to get a better understanding of how the past year has affected employee sentiments. The Great Resignation didn’t go away. It merely acted as the catalyst for a shift in how employees relate to their careers, which puts increased importance on opportunities, aligns personal values with the company mission, and demands the option for flexible ways of work.
The tools exist to make real changes for employees. Talent marketplaces are growing in utilization across many industries, as they fundamentally transform the way employees interact with their employers and open up the world of opportunities they have asked for.
We must recognize that we are moving from a predictable, stable world to a dynamic, multi-directional one. According to the research, at the end of 2021 and in the middle of 2022, between 66% and 72% of employees surveyed revealed that they thought they had better opportunities for growth and development outside their organization than inside their organization. We always want to create more opportunities inside the organization than outside. Companies today are still struggling to highlight the roles available to existing employees, with one in eight workers finding it difficult to even get information on what opportunities are open.
Addressing employee concerns is not a zero-sum game. Employees overwhelmingly want to feel valued by their employers, and that validation creates a positive feedback loop with worker output and organizational success. New hire productivity is increased by 69% when the candidate is internal, and more than 63% of respondents are interested in being considered for different, new career opportunities with their company. The desire for transformation exists in the workforce. And as business leaders struggle to accommodate rapidly evolving skills, relying on external hiring to bridge skill gaps is a costly—and often insufficient—effort.
We can’t return to the past. The future of work is managing a flexible, hybrid workforce that allows employees to grow in their careers beyond a linear path to a multi-directional set of options inside and beyond our organizations — integrating our work and lives in a more holistic sense.
Despite companies verbalizing the need for greater internal development and agility, the lack of action has left employees to continue wondering if their futures could be brighter somewhere else. In our second survey, slightly more workers responded that they’re looking outside of their current organization for new opportunities. Nearly three in four of all respondents report that they think better growth opportunities exist outside of their companies, an increase from 2021. Business and HR leaders need to address the challenge of creating, encouraging, and incentivizing internal movement to meet worker expectations.
Danny Shteinberg is the Co-Founder, CMO & CPO, at Gloat