Could the Great Resignation be a trend that reflects the mindset of American workers? The statistics suggest it is.

Although the mainstream media reports Covid-19 prompted employees to re-evaluate their work life, the number of US workers quitting their jobs has been growing by 0.10% year-on-year since 2009.

The figures point to a growing number of disgruntled workers that are prompted to search for better opportunities because of the failings of employers.

The fact of the matter is that the Great Resignation is a growing trend that started before the pandemic and was only accentuated by the $600 stimulus checks handed out by the US government.

If employers are intent on retaining top talent, companies need to adopt work smarter strategies that appeal to the sensibilities of today’s workers. A survey conducted by Deloitte earlier this year indicates millennials and Gen Zers are likely to quit their jobs if the following conditions are not met:

  • Good work/life balance
  • Training and development opportunities
  • Fair salary and financial benefits
  • Diversity and inclusive program
  • Positive workplace culture
  • Flexible working hours
  • A sense of purpose and meaning

Employers can meet the demands of younger workers by adopting work smarter strategies. There are no set rules of how your business can achieve that in-house, but we’ve listed some ideas below to give you some inspiration.

Embrace a top-down culture

Younger workers want to feel respected and valued at work. Millennials and Gen Zers also want their leaders to be transparent and ethical. Business leaders can achieve both these demands by creating a company culture that dissolves the traditional pyramid-style hierarchy and creates a workplace where workers feel valued.

Creating a workplace in which senior management teams and experienced individuals work alongside the rest of the team and serve as mentors creates a sense of belonging.

Forget Performance Competitions

Age-old strategies to encourage workers to try harder and improve efficiency have failed miserably. Chief among them is the cruel strategy of ranking employees based on their performance.

Researchers at Stanford have shown that competition in the workplace model is more likely to have a negative effect on your team as a whole. Environments that place an emphasis on success and failure increase stress levels and fear of failure. This is an environment that fosters mistakes, not efficiency.

Foster An Environment That Promotes Ideas

Companies don’t have ideas. People do. Smart strategies that generate creativity, innovation, and productivity encourage employees to share their ideas and harness the power of data-driven group decision-making.

Promote Continuous Training

The Deloitte survey showed that 29% of employees enter the workplace expecting on-the-job training and a vision of their future with the company. A development path was the second only to a work/life balance.

Our work smarter strategy encourages construction companies to build a team with a diverse set of skills and install a mentor program in which co-workers are encouraged to share their skills with their colleagues.

Wrap Up

Retaining existing workers is a far more cost-efficient strategy than continuously recruiting new employees. It can take around 12.7 weeks at a cost of three times the workers’ annual salary to fill job openings.

Moreover, the skills shortage in the construction industry indicates that companies cannot afford to let top talent leave once they are onboard.

When you work with Cruitfly, we not only help to identify and recruit top talent, but we can also advise you on how to create a workplace your most valued employees will not want to leave.