As an HR professional, if you’re not tired of taking exit interviews yet, you’re in a very fortunate place. Businesses all over the world witnessed people leaving their jobs in hordes. For some employees, employers played their part in driving their best people away. How, you ask?
As per Amber’s data, the top 3 reasons employees left their jobs in 2021 left their jobs were:
- Lack of career development
- Inadequate inclusion and diversity problems
- Poor work-life balance
Globally, talent is in high demand and businesses are struggling to hire and retain the right people for the right roles. Sure, great Resignation led us to about 41% of people resigning from their jobs, but is it going to bring out long-term, meaningful changes to the workplace? CXOs should definitely prioritize creating the perfect workplace environment for their employees while also juggling other business priorities.
We asked 10 of the most celebrated CXOs how to tackle Great Resignation. Here are their hacks to thriving amidst the chaos, all the way to 2022.
1. Sunil Setlur, CHRO, Gojek
- CHROs have to enable flexibility to attract and retain top talent. This means giving employees agency and autonomy across all areas of work.
- Cultures will need to become more employee-led than they have ever been
- CHROs are going to need to be at the forefront of facilitating that transformation in their organizations.
2. Dudi Arisandi, Chief People Officer, Ticket.com
- Build an employee-focused culture, not only something you put on the walls but in daily real life.
- Recognize and celebrate the achievement.
- Make your team/employees feel connected.
- Building the best employee experience.
- Be a good listener for your employee and take action from their feedback
3. Fermin Diez, Deputy CEO & Group Director, National Council of Social Service (NCSS)
- Design a development/retention based approach for compensation - Learning and development opportunities, travel opportunities with the role, public speaking opportunities to build their profile, coaching certifications for managers, remote working possibilities, a cool working office space that feels like home/college, stock options, unlimited leave options, travel sponsorships etc.
- The idea is not to create a Millennial-specific approach, nor a Millennial-tailored approach that now all other staff has to abide by. Rather, companies should develop an approach with the flexibility to accommodate all generations of employees.
- Should employers pay Millennials based on qualifications and work experience or skill-set? Not just for Millennials, but paying by skill set would be a more reliable way to pay all employees, as roles can get decomposed with the gig economy, and the traditional hierarchy begins to blend into ever-changing technological needs.
4. Olivia Chua, Chief Human Resources Officer, Jebsen & Jessen
- Be patient; getting the right person for the right job is still crucial and we should not settle for less. Otherwise, we would have a harder time managing them or replacing them.
- Now may be a good time to look at how we can be creative in designing a flexible rewards program, and to consider a flexible work arrangement post-pandemic.
- For talent retention, have continuous check-ins with your top talent, continue with their development and get them involved in significant projects.
5. Fong Tuan, Group Head HR, Berjaya
- Good talent will always come at a premium because the supply is scarce. Post the pandemic we will see an increase in this supply as revenge job-hopping may happen for talents who have otherwise been well protected by their respective organizations, feel compelled to change jobs after 2 years of being cooped up.
- The answer is to attract and identify the right people. This pandemic though challenging, maybe a blessing in disguise.
- Organizations that chose to stick by their people, prioritizing their wellbeing, protecting their livelihoods, ensuring that no one is left behind, are the ones that the market looks up to.
- What we do during times of difficulty and turmoil differentiates the merely good from the really great.
6. Dr. Loo Leap Han, Group Head, Talent Management, Biomed Global
- Employees are looking for flexible work models; working hours, location, work-life integration
- Employees want to be measured on the value they deliver, not the volume. They would prefer to work for a company that prioritizes outcomes over output. Companies should design people-centric experiences that give employees the space they need to unlock their full potential and deliver transformative results.
- Employees want to work for a company that prioritizes and demonstrates a commitment to diversity and inclusion, addresses workplace inequality, and doubles women in leadership roles.
- Companies should provide the skills needed for their current jobs and the jobs of the future. The most in-demand skills are artificial intelligence, machine learning, cloud computing, cybersecurity, disaster recovery, blockchain, healthcare IT, digital transformation, and UX design.
7. Gadis Lukman, VP of People Operations, Sirclo
- Understand what motivates your employees, and be creative in exploring the things that can retain them. For example, the Wellbeing allowance is very popular these days. It’s a gesture that shows that the company pays attention to the employees’ well-being.
- But what if you don't have the money to do it? This is the part where you need to be creative. Have talks about wellbeing, ask the managers should hold a ‘support group’, have a one-day break for the company to ask their employees to take care of themselves, etc.
8. Dr. Esther Loo, Head of Human Capital Transformation & Analytics, Malaysia Airlines
- CHRO’s need to take full advantage of innovative technologies available today to improve employee experience and engagement within the organization.
- This includes using the available data and insights, learning technologies to design personalized offerings for the workforce.
9. Nadiah Tan Abdullah, Chief Human Resources Officer, SP Setia BHD Group
- Be very clear of your value proposition and articulate it well with a lens of future sustainability as talent today are very in tune with the environment and speak the business language even more.
10. Thomas Suhardja, Chief of Human Capital, Halodoc
- For retaining top talent, obviously, money is important when you look at your talent management. Equally important is how you recognize talent, how you give appreciation to talent, and the benefits you provide.
- What also plays a key role are the managers. People will stick to their companies even if other companies pay higher if the employees see value in working with their managers.
- For attracting top talent, you need to have a person in the organization that people look up to. A prominent leader, a well respected, highly regarded individual in society might just be able to attract ordinary talent, but, if you get someone who is in the business and attract the Chief Commercial, the VP commercial, then everyone starts understanding that this is someone who really wants to expand in the market.
Love these valuable hacks? Read the full piece here.