We live in an age where technology has made the workplace more efficient. There are laws that protect employees better than ever. And companies are offering benefits more generously. But employee dissatisfaction is at an all-time high.
According to Pew Research, U.S. workers left their jobs at the highest rate in 20 years in 2021. We are also seeing workers go on strike in several countries worldwide.
British railroad workers held a 24-hour strike on June 21st. Similarly, airport workers like security guards, baggage handlers, and other staff were on strike in Paris, France. Nurses have been protesting in Zimbabwe.
Workers leaving en masse has had such an effect on businesses and has been so noticeably significant that it’s being called the Great Resignation, a term coined by Professor Anthony Klotz for the first time in 2019.
The Great Resignation refers to the substantial number of people quitting their jobs, primarily due to the COVID-19 Pandemic and its aftermath.
But what are some causes of the Great Resignation?
Major Causes of The Great Resignation
A number of factors contribute to the mass exodus of “The Great Resignation “
1. Employees Feeling Undervalued
Workplaces have come to treat employees as expendable, leading to the uberization of many professional fields. Workers do not feel valued anymore, but these protests’ effects on businesses are one way to discount that idea. The lack of appreciation at work plays a massive role in why employees want to leave their jobs.
2. Workplace Relationships
Most people spend most of their days at work and are bound to be affected by the relationships they form. Poor relationships with coworkers and management play a part in this influx.
3. Feeling Stuck
The feeling of stagnation also influences why employees want to leave a particular work environment. For example, if staying at the company doesn’t lead to growth in their career, they’ll decide to go and look elsewhere.
The Value of Employee Satisfaction
Companies with a highly satisfied workforce generally have happier customers
Employee satisfaction refers to the overall contentment of employees with their work, experience, and compensation, as well as their company’s policies, management, and work environment.
It’s crucial to highlight employee satisfaction as a focal point because it’ll ensure better performance and employee retention. Satisfied and happy employees are more likely to perform and do better at their jobs. This also means that they’ll be more productive, and that’s a benefit to the company.
In addition, it helps with employee retention. If employees are happy, they curate a positive work environment around them and are more likely to stay within a company. Several studies also show that employee satisfaction could make companies more profitable.
So how can companies keep their employees from leaving while maintaining office morale?
Tips for Employee Satisfaction and Retention
Employee satisfaction should be the goal of every company. But how do you know if your workers are happy?
1. Foster Good Workplace Relationships
Employees need recognition for their work. When an employer ignores accomplishments, employees seek appreciation and value elsewhere. According to OfficeTeam’s study, 66% of employees say they would “likely leave their job if they didn’t feel appreciated.
Simple things like showing employees respect and providing them with proper compensation can go a long way. Additionally, we’ve seen that the work environment is a considerable determinant of employee satisfaction. Beyond a visually stimulating working area, good workplace rapport between employees, managers, and CEOs is vital.
One way to foster this is to have company-wide get-togethers where everyone can interact virtually or in person. This will allow everyone in the office to get to know each other and communicate, building human connections with the people they are professionally associated with.
2. Encourage Open Communication
It is essential to make employees feel like they have a valued voice and are heard. One way to do this can be by administering a monthly or bi-monthly check-in with employees about what they feel is working in the company and what isn’t.
Feedback is crucial to employee satisfaction, yet many managers may hesitate to provide feedback. A lack of feedback makes employees unsure about the work and effort they are putting in.
Therefore, managers should provide constant feedback. The key is to make sure that the feedback is always constructive. The positive effects of feedback are immense in the workplace. It can build trust, and employee satisfaction, keep the employees motivated, reduce turnover, and ultimately, increase employee satisfaction.
3. Provide Employees with Opportunities for Growth
Giving employees opportunities to build on and develop their skills is a great way to retain and motivate them to perform better.
Helping employees develop their skill sets is also one of the attributes of employee satisfaction. Giving your employees room to develop their skills boosts their job satisfaction and increases work efficiency. This also shows your employees that you care about their career development along with organizational growth.
When employees are rewarded and recognized for their work, it builds employee morale and productivity.
4. Organize Company Retreats and Activities
Company retreats and activities are another great way to keep employees satisfied.
Hosting company activities is something we like to do at MMCY. We organize company-wide activities throughout the work year to support employees and improve morale. For example, we host an annual Christmas party in our Addis Ababa Office.
Our Annual Christmas Party
We also uplift our diverse workforce, celebrating holidays such as Women’s Day by having brunch out of the office and allowing our employees to spend quality time and conversation together while enjoying delicious meals.
Celebrating Women’s International Day on March 8th
Providing opportunities for social interaction is a great way to keep employees satisfied.
At MMCY, we believe we have an obligation to take care of our employees. Our people are the most important part of our company. Therefore, we try to have our workplace culture, policies, and dynamics reflect that. If you’d like to work with us, check out our latest job postings on our MMCY Talent website.