The following is a press release from the Better Business Bureau.
IDAHO FALLS – The workforce is changing at a rapid pace. So much so that the renowned cultural phenomenon, “The Great Resignation” continues to make headlines.
Employees are expressing more dissatisfaction with their work environment and many have quit for different reasons. This phenomenon, a phrase coined by Anthony Klotz, a professor of business management at Texas A&M University, has taken worried business owners by surprise, forcing them to scramble to find solutions to their staffing needs.
In 2021, 3.9 million employees quit per month on average, and this trend is expected to continue in 2022, as 4.4 million employees quit in February alone, a slight increase from the previous month .
In addition to expecting a hybrid or work-from-home option, workers now expect some level of fairness and equality from their employers. They want to feel valued and appreciated, and don’t want to sacrifice their personal life for their job. The current climate has forced many business owners to reassess their corporate culture and adapt in order to retain their best employees.
While these changes may cause a sense of uncertainty, they also present opportunities for employers and job seekers. Below, the Better Business Bureau reviews some of the workplace trends that are expected to be the most important in 2022.
Hybrid work models are still preferred by employees
The changes in the workplace initiated by the pandemic have many people looking for jobs that offer a better work-life balance. In particular, they are turning to hybrid work models, where they can alternate working from home and in the office. In fact, not only do 83% of workers prefer a hybrid work model, but 63% of high-growth companies have already adopted a hybrid workforce model.
Establishing a relationship of trust with your employee to fulfill their responsibilities is not only empowering, but also sets a higher standard of accountability. Guiding your employee to set achievable goals and establish performance metrics, such as OKRs (objectives and key results) or KPIs (key performance indicators), can significantly help your business move forward in a hybrid environment.
A growing push towards automation
Automation has been used to increase productivity for the past few decades, and in the wake of the pandemic, it’s being implemented even more. Eight to eight percent of small businesses say automation helps them compete with larger companies by allowing them to act faster, reduce errors, and provide better customer support. Businesses facing staffing shortages can particularly benefit from automation, which allows them to maintain similar work output with fewer employees.
With more tasks automated, employees can focus on a variety of projects and even learn new skills to complete tougher work.
Invest in employees
Every company should strive to have enthusiastic and motivated employees. Demonstrating a commitment to employee growth and success builds loyalty. Ninety-four percent of employees said they would stay with a company longer if it invested in their learning and development. Not only will they actively work to improve business operations, but they will become trusted advocates.
Having a growth plan in place, providing funding for courses or certifications inside and outside of their role, mentoring programs, personal development assessments, and inviting guest speakers are all affordable and creative ways to invest in your employees.
The Better Business Bureau is committed to providing the most relevant and up-to-date information to help you navigate the complex business landscape. For more trading tips, click here.