Employees are fed up, and they continue to voluntarily quit their jobs at a record-setting pace. More than 47 million US workers did so in 2021, and millions more have since 2022 began.
And they’re not taking any job they see; they’re being selective. Recent data from the Bureau of Labor Statistics indicates that there have been over 11 million job openings available each of the past three months with data.
A recent global McKinsey study found that 40% of respondents are somewhat likely to quit in the next three to six months. Of those, 18% said their intentions to quit ranged from likely to almost certain.
McKinsey’s research also revealed why so many employees are willing to resign. Three factors were reported by a majority of “about to quit” players:
- 54% of employees don’t feel valued by their organization
- 52% of employees don’t feel valued by their managers
- 51% of employees don’t feel a sense of belonging at work
The pandemic has changed what employees expect of their workplaces, their colleagues, and their bosses. Employees have learned they have a voice and they have a choice.
What is clear to many business leaders is that employees of all generations deserve and desire workplaces where they are respected and validated for their ideas, efforts, and contributions every day.
Old-school command-and-control leadership practices will not meet these new employee expectations. In fact, these antiquated behaviors are what have frustrated employees for decades.
Helping employees feel authentically valued and appreciated by their organization and boss — and to feel like they belong in your work team — will take time and intention. A simple approach? Allocate an hour a day to personally thank players for tasks done well and for creative problem-solving.
A more complex approach might be identifying and closing pay gaps — by gender, ethnicity, across countries, etc. This will likely take time and funding, but it is a powerful way to express that everyone is equally valued in your organization.