By Jun Cuaresma
THE mere plan to hand over a resignation letter has become a common joke. There is truth behind it, however, whether one pushes through or not with plans to quit. In today's business environment plagued by the great war for talent, statements like this are cause for concern not just for people management and human resources leaders but also for all who share the responsibility of promoting employee engagement and talent retention.
Speaking of truths, here is a tough one to handle: A Gallup study revealed that nearly 50 percent of the US working population is on the hunt for a new job, with businesses seeing a higher number of workers actually quitting their jobs. What is more interesting is that workers across all job categories are looking for new work opportunities at the same rate. The figures are worrisome, with experts calling the phenomenon "The Great Reshuffle."
Why do employees quit? It is not just because of pay issues nor employees hating what they do. The real cause is more workplace related. A 2022 McKinsey survey highlighted that one of the top reasons employees resign was because of their bosses. Having "bad managers" drives staff away — not a good thing to hear when you are the boss. All is not lost, however — there are options that leaders can undertake to help their company address high attrition rates.
Implement people engagement
The same survey showed that when employees were interested and highly engaged in their work, they were more productive compared to peers who showed signs of disengagement. The solution seems simple at best: get staff more engaged in their jobs. But for this to work, managers must realize that the role of a leader extends beyond the completion of deliverables and proper delegation of work. An effective leader knows the importance of people engagement and the plethora of benefits it provides.
In a previous article, we emphasized that a toxic workplace is much more detrimental than we realize. For one, a toxic work culture contributes to stress buildup and work burnout (the latter considered as an occupational phenomenon by the International Classification of Diseases), which is caused by severe workplace stress that is not adequately addressed.
Beware of 'quiet quitting'
Another tough truth: quiet quitting is real. In its research, Gallup defined "quiet quitters" as those employees who do not aspire to achieve more, those who do not bother to go above and beyond in their duties, or those who are perfectly content to complete just what their job description covers. Nothing more and nothing less. This phenomenon is disconcerting considering that in this day and age, effective collaboration and leadership styles require an innovative and go-beyond mindset.
To solve this, HR (human resources) teams should be adept in implementing new policies to prevent employee disengagement and burnout. One strategy could be as straightforward as mandating regular manager-coachee sessions that will be helpful for managers in checking with members of their teams.
Find new ways to attract, retain talent
Simple enough? Think again. As changes to workplace arrangements are implemented, traditional approaches in talent acquisition and retention may no longer be as effective as before.
Look at the whole talent retention process as a classic push and pull between employer and employee. On one end, staff can be demotivated by factors including toxic work culture. To be able to tug and pull, and make staff stay, employers should be knowledgeable about demotivators as much as factors that motivate. Lessen demotivators by replacing these with engaging corporate acts — be it a higher pay, promotions or similar people engagement initiatives.
The next time you hear a joke about an employee planning to resign, do not take it as lightly. A myriad of factors makes employees quit their job, and it is not just HR officers who are responsible for finding ways to make staff stay. Ensuring the effective implementation of people engagement measures is the duty of every employee, managers and new hires alike.
Jun Cuaresma is the managing partner & COO of P&A Grant Thornton. P&A Grant Thornton is one of the leading audit, tax, advisory and outsourcing firms in the Philippines, with 24 partners and more than 1,000 staff members. We'd like to hear from you! Tweet us at @GrantThorntonPH, like us on Facebook at P&A Grant Thornton, and email your comments to pagrantthornton@ph.gt.com. For more information, visit our website at www.grantthornton.com.ph.
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