It’s no secret that employee and leadership morale has plummeted since the outbreak. With economic uncertainty generating layoff worries, inflation, and a historically tight labor market, there’s no lack of pressures affecting your staff and lowering employee happiness.
As existing talent frets about layoffs and financial health, company leaders suffer as they battle to acquire – and retain – top personnel.
All of this adds up to a disgruntled and disengaged staff, which may easily lead to disengagement trends like silent resignation. In fact, according to a recent worldwide survey from Kelly Services, over half (45%) of talent are quiet quitting, and a comparable percentage of executives (47%) have been affected by quiet quitting in the last year.
It’s no surprise that employee happiness is dropping in the face of a historically volatile labor market and economic uncertainty, as businesses seek to assist employees overcome burnout and promote engagement.
Discontent and Disengagement
According to Kelly’s analysis, which polled senior executives and talent alike, there is a huge divide between workers and leaders.
For example, nearly a third (28%) of workers said they are “very likely” to quit their job in the next year because of poor work-life balance and a lack of growth chances, whereas executives assume people are leaving because of low pay.
Employees who said they were preparing to quit were also more likely to cite a lack of inclusion, with 62% reporting non-inclusive conduct at work.
A drop in employee happiness may have serious consequences for a company, ranging from high turnover to low productivity, leaving management fighting to keep and retain top people.
The report found that:
46% of CEOs believe that problems locating people are causing them to miss out on business prospects.
42% say that they are not maximizing the potential of their staff, and
26% said they don’t have a clear picture of the expertise and abilities they’ll require in the next two years.
How to Foster Workforce Resilience
Employee dissatisfaction combined with company executives’ inability to recruit talent, results in a workforce that struggles to adapt to a quickly changing reality.
In reality, less than half of executives (47%) feel their staff is resilient, implying that they lack the skills required to fulfill long-term corporate goals and adapt to market changes.
According to Kelly’s analysis, leaders who focused on three key areas enhanced productivity, profitability, and customer satisfaction over the previous year. They discovered that a resilient workforce requires three key components: workforce agility, DEI, and workforce capacity.
“Now more than ever, employers are struggling to keep up with the evolving needs of talent, and risk falling behind if they don’t bridge the growing divide related to workplace expectations,” said Tammy Browning, senior vice president at Kelly.“As organizations enter a post-pandemic era, those that prioritize building a resilient workforce by focusing on the three pillars will be better equipped to adapt to the future of work and thrive in changing market conditions.”
Consider applying these techniques used by firms that are leading the way in workforce resilience to develop a more resilient workforce:
Prioritize employee training and development:
Companies that engage in training and development programs can help employees improve their skills and knowledge. Technical training as well as soft skills training, such as communication, problem-solving, and stress management, might be included. Companies may help employees gain confidence and resilience by providing them with the tools they need to succeed.
Encourage an open and transparent culture:
By encouraging employees to speak out and share their thoughts and concerns, an open and transparent culture may help develop a more resilient team. Companies may foster this culture by offering regular feedback, recognizing and rewarding outstanding performance, and fostering cooperation and teamwork.
Promote work-life balance:
Employees who maintain a healthy work-life balance are more resilient and better equipped to deal with stress. Companies may assist by offering flexible work options like telecommuting or flexible hours, as well as encouraging employees to take time off when required.
Develop good relationships with your employees:
Companies may foster close connections with their employees by demonstrating concern for their well-being and giving assistance when required. Employee support programs, mentorship programs, and frequent check-ins with management are examples of such initiatives.
Embrace diversity and inclusion:
By bringing together people with various ideas and experiences, a diverse and inclusive workforce may help create a more resilient firm. Companies may encourage diversity and inclusion by hiring people from diverse backgrounds, raising cultural understanding, and making sure all employees feel appreciated and respected.