Surviving to thriving: Foundational steps to support a thriving business
Thought Leadership: Xavier Alcaraz, National Practice Director, Health, Safety & Well-Being
Everything about the way business is done has changed, there’s no question about that. The last two years were spent in a state of uncertainty, worry, and fear. Many employees who have shifted to a remote work environment remain uneasy about returning to the office. Mask restrictions are slowly being lifted across the country, leaving room for post-pandemic challenges companies have never faced before. The best way to address these concerns is to ensure your workforce knows their organization is both aware of these obstacles and is creating processes to protect the safety of all employees. Communicating these plans clearly will reassure and build trust with your employees while minimizing attrition.
Staffing Shortage
The Great Resignation is ongoing and finding talent to meet operational demands while addressing the post-COVID concerns has created a lot of pain points for companies. Organizations are unsure if or how they will adopt a hybrid/remote work model, and this is leading to a disconnect between employees and their management. The Bureau of Labor Statistics reports there are more than 11 million job vacancies spanning every employment demographic in the United States. Attrition rates have increased across all levels of employment, but mid-level positions particularly are in highest demand. These exits are likely due to greater workloads, outside stressors, and potentially, a lack of health and safety measures that are causing workers to rethink their personal and work-life goals.
The reality is the priorities and mindset of our workforce has shifted. Workers are expecting to maintain at least part of their current remote status despite many employers pressing for full, in-office presence. BSI’s 2022 Organizational Resilience Index Report confirms remote work life is here for the foreseeable and future, and to expect remote work to take up 50% or more of working hours. Now more than ever organizations need to re-examine and re-evaluate their employee retention practices and turnover rates and how they correlate with post-pandemic expectations.
Hedging the Surge
As most organizations are feeling the strain of high resignation rates, there are some alternative approaches that can offer a bit of light at the end of what feels like a never-ending tunnel. Companies that have managed to control the surge in workforce attrition tend to prioritize their people and implement strategies that share these common attributes:
• Active employee engagement
• Listening to what employees have to say (and not just through anonymous surveys)
• Empowering employees and promoting a culture of continuous improvement
• Offering a culture of flexible work schedules combining in-person and remote
• Offering growth and development opportunities with course reimbursement to support further education and certifications
While these strategies may appear easy to execute on paper, implementation requires a heavy lift for companies from the top down. Executives can lead by example and implement a company culture that truly values employees.
In our upcoming Heath, Safety and Well-Being (HSW) series we’ll address the future of HSW and the topics that should be at the top of your list.
For more insight into the residual challenges companies are facing created by the pandemic, take a look at BSI’s Prioritizing People initiative.
