“The Great Resignation” refers to the recent movement of employees leaving their current jobs for more money, greater flexibility and an overall better work experience. With this shift, businesses feel the pressure to attract and retain talent more than ever, and the competition between firms is at an all-time high as potential employees demand more than just the primary benefits traditionally offered.
How This Affects Your Business
During COVID 19, many businesses switched to either fully remote or implemented a hybrid schedule. Employees experienced the ease of working from home and enjoyed a more flexible schedule that was previously unattainable. Now that businesses are returning back to normal, employees are reevaluating their current positions. According to NPR, “As pandemic life recedes in the U.S., people are leaving their jobs in search of more money, more flexibility and more happiness. Many are rethinking what work means to them, how they are valued, and how they spend their time.”
People are demanding a more inclusive and flexible working environment. The practices, cultures, and benefits companies previously offered are no longer acceptable to this post-pandemic audience. “New data shows that 27% of venture capital, corporate venture capital and private equity firms lost a partner or key recruit in 2021, according to a recent J.Thelander-PitchBook survey of more than 760 respondents,” stated in Pitchbook.
What Can You Do?
As the Great Resignation wave continues to increase, employers should be reminded to implement a plan to provide a more diverse, equitable, and inclusive workplace. Simply vocalizing about diversity and inclusion is no longer enough. Employers must deliver a quantifiable solution to improve DEI.
Here are some tips to attract and retain talent:
- Create and nourish an inclusive culture
- Develop a flexible schedule for employees
- Commit to reducing bias in the workplace
- Provide opportunities for growth & career development
How Diversio Can Help Your Company
Our mission is to provide organizations with the right tools to improve DEI in the workplace. By using AI and data analytics to track, measure, and improve DEI, we can ensure companies take the correct steps to provide a more inclusive work environment. Our Workforce Dashboard gives you powerful insight into the state of DEI in your company, allowing you to quantify experiences, uncover biases and identify solutions.
To learn more on how you can make your workplace more inclusive, visit our website www.diversio.com