Amid exciting reports from people like Bloomberg and the Financial Times telling us that the UK economy is set for its most significant period of growth in decades, and the excitement of returning to work and business after extended lockdowns and periods of isolation, something of a “silent killer” has been brewing - and no one knew about it until it was too late.
It turns out that all of that time at home with our families and being able to work and produce at more convenient times as well as take a more active role in child-rearing has meant that we’ve come to value our lives differently and have placed greater importance on maintaining that crucial work-life balance that was so very lacking in the great before.
This sudden realisation that seems to have reached our collective consciousness at more or less precisely the same time has led to millions of workers worldwide simply downing tools and leaving their jobs, all apparently in the pursuit of a calmer, more sensible lifestyle.
As a business owner, what does all of this mean for you? We’re going to try and unpack some of those implications now.
EMPLOYEE RETENTION PROGRAMING
It used to be that minimal emphasis was given to the importance of non-crucial or lower-ranked employees. If they wanted to go - they went. Well, suppose you’re going to survive this period of uncertainty. In that case, you won’t be able to perpetuate that line of thinking anymore, and if you think it’s only big companies or corporates that are feeling the pinch - think again.
The “great resignation” is also applying to smaller businesses, as more workers simply don’t see the value in working extended hours repetitively without a noticeable change to their daily lives. Goods and services keep getting more expensive, and salaries don’t necessarily catch up either.
This means you’ll have to make your business personal. You’re going to have to find a way to meet your workers “where they’re at,” and unless you’re involved in manufacturing or food-producing, you can probably find ways to do that.
If you think you can’t afford to pay raises or increase travel benefits, you’re going to have to think again. Many businesses have realised that by shutting down expensive office space, they can use the massive amounts of rent they’ve been paying much more productively elsewhere.
Just saying.
WORK WITH RECRUITMENT, NOT AGAINST IT
Given the vast numbers we’re talking about here, it should be the easiest leap to make: partner with a recruitment agency. Recruiters don’t just work with finding the correct staff. They also help you navigate periods just like these and can be irreplaceable when you find the right one.
This is undoubtedly true if you’re in banking, finance, IT, or the hospitality sectors (where you’ll need specialist food and beverage recruiters), which have traditionally seen relatively high staff turnover rates anyway. So take some time to find the right recruitment partner that makes sense for you - you won’t regret it.
You can cry in the rain, or you can dance in the rain - but as we all across Great Britain know, there will always be rain. You decide what works best for you.
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