The drastic changes in work over the past two years have given many employees reason to stop and think about their options – what factors are important in the workplace and what they want from their employer.
Globally, these trends have led to what has been called the “Great Quit” in which many employees quit their jobs in search of more fulfilling and meaningful work, a better pay and benefits and a work-life balance.
According to a recent McKinsey survey in the United States, 40% of employees anticipate that they will leave their job in the next three to six months. The top three factors cited by employees as reasons for quitting were that they didn’t feel valued by their organization (54%) or their managers (52%) or because they didn’t feel a sense of belonging at work (51%).
As CEOs focus on accelerating their digital transformation and resuming business growth, they are also being challenged to provide better job opportunities than their competitors, said Zuko Mdwaba, vice-president. regional president of Salesforce South Africa.
“With the rise of remote working, they are competing with organizations in all markets to provide the best flexible working conditions and development opportunities. Increasingly, today’s workforce expects business leaders to lead in an ethical and responsible manner.
“In this all-digital world, with the right leadership, training, and technology, companies can create a more meaningful workplace to better attract, retain, and develop talent, from anywhere.”
retain talent
As the pandemic has increasingly blurred the lines between work and personal life, well-being should be a priority for every business leader, Mdwaba said.
“Having the freedom to shape their workday around their own unique needs is increasingly seen as a fundamental need for employees to increase productivity and reduce stress. This is especially true among diverse groups like women with children and where global hiring and time zone integration affect team work hours.
“To drive employee retention, promoting different ways of working – flexible, fully remote or fully in-office – can help address these needs. Flexible team agreements are a great example of redefining the way teams work together, allowing employees to decide how, when and where they work, including how many days a week they come into the office and what type of work they will continue to do at home.”
Teams can also decide how they communicate and what behaviors are most important to them, Mdwaba said.
Arrangements can include “meet-free Fridays,” monthly wellness days and prioritizing in-person meetings throughout the year to keep teams feeling connected, he said.
Semigration
The shift to remote working in South Africa is best seen in increased migration activity, with professionals moving to the coast and smaller towns while continuing to work from home.
“The pandemic has demonstrated that people can work remotely while doing work, and employees have become accustomed to this flexibility. If they are unable to retain that freedom as the workforce returns to the office post-Covid, they quit,” said Ryan Silberman, Group Managing Director at Webfluential.
“As business leaders, we need to create an environment of safety and security for our employees, so that they feel it’s okay to make mistakes and learn in the process. We need to empower people. ‘example. “
Silberman doesn’t believe the Great Resignation is necessarily negative, but rather an opportunity that will force companies to “pivot” again.
“Yes, this is a new challenge, and there is a high cost associated with recruiting and training new staff. Ultimately, this shift from traditional employment allows people to upskill and perform at a higher level, and companies are paying for that value.
hiring war
Capitec chief executive Gerrie Fourie has described the South African hiring market as a “war for talent”, as banks, retailers and other businesses fight to hire from a very limited talent pool.
Fourie said this is most keenly felt in highly technical professions such as data science and computer scientists.
“This is fueled by people saying they are now working from home and abroad. It’s quite easy to work in London, but you’re actually sitting in South Africa, so I think there’s going to be quite a war for talent,” he said.
The bank’s managing director added that Capitec aims to fill several hundred positions over the next few months.
“Over the past year, 1,367 new employees have been hired, of which 26% were for critical IT and data development needs. Despite the pandemic, the company continues to grow and invest in its people and has already started recruiting top talent to fill 500 new positions this year,” he said.
No sign of appeasement
The big quit shows no signs of abating and a dwindling supply of workers could be here to stay, according to Randstad, a global employment services provider.
Fewer people in the labor market, supported by a long-term demographic trend, allow talented workers to have more options and they go where their needs are met, the Dutch company said. Bloomberg.
The big resignation was a boon for employees seeking better working conditions and higher pay. Economies rebounding from the pandemic and work-from-home options have made it easier for employees to leave unattractive roles and seek alternatives, driving up wages.
A third of participants in the Randstad survey said they left a job because it didn’t fit their personal life. More than half of Millennials and Gen Z respondents said they would quit a job if it got in the way of them enjoying life. That compares to just over a third of respondents who identify as baby boomers.
Although 83% and 71% of respondents said flexible hours and location were important, respectively, most said they felt they had no choice in where to work, and two in five cannot control their hours, according to the report.
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