How to be on the Winning End of The Great Reshuffle

What we thought was The Great Resignation now seems to be more of a Great Reshuffle. Yes, last year an average of more than 3.95 million workers quit their jobs each month, but that is only part of the story. Hiring numbers have also been strong. According to the U.S. Bureau of Labor Statistics, average monthly job growth was 555K in 2021.

With all this churning of staff, we are seeing winners, losers, and some companies who have been lucky to hold their existing staff without needing to increase hiring. To avoid losing talent to The Great Reshuffle, I recommend the following:

1. Make Work More Purposeful – On the surface, most tasks are not that exciting. What our work accomplishes, though, can be inspiring. Linking how your employees’ contribute to your organization’s vision and values can be very motivating. For many employees, this provides the “Why” of work.
2. Foster Work Relationships – Most of us spend more time working than sleeping. Having an affinity with our coworkers contributes to a sense of belonging that can be very motivating.
3. Convert Your Managers to Leaders – The reason we often hear “Employees don’t quit jobs, they quit managers” is because this is often the case. Managers who lead tend to have employees who stay. Also, giving your managers areas of discretion with staff provides space for leadership skill development.
4. Focus on Total Rewards – Too many organizations view compensation as the primary factor in motivating employees to stay. If a paycheck is the only reason your employees stay, you have already lost. Top performing companies view compensation as one component of the Total Rewards they provide. Other components can include benefits, training, vacation, special projects, non-financial rewards that are customized to employees, and recognition. Compensation is important, but so are other non-financial rewards.

The Great Reshuffle has just as much potential to be an opportunity as a threat, especially if you are growing. By focusing on your employees, you increase your odds of being a winner as you attract additional staff while giving them strong reasons to stay.

If you need help in keeping your staff or attracting new staff, IgnitionHR is here to help. Just click HERE to schedule an introductory call.