Mass layoff is a word we’ve heard in the news, but what does that really mean for employers? According to the US Bureau of Labor Statistics, more than 4.5 million people quit their jobs in November 2021. This represents a continuing trend from the previous month, showing major changes in the labor market where young professionals leave the company for a variety of purposes. For reasons that include, but are not limited to, better wages, improved culture, flexibility, and options for working from home.
According to the Harvard Business Review, the group of most affected people are young professionals aged 30-45 years in the middle of their careers. The group’s resignation rate exceeded 20% between 2020 and 2021.
Meaning of Mass Retirement for Employers
The Work Institute, an industry-leading labor research firm, has released a comprehensive survey of employee retention rates, estimating that the cost of turnover is about 33% of an employee’s annual salary. This is a huge cost to employers, and keeping employees happy is more important than ever.
Employers need to adapt to maintain their best talent. This is the best opportunity to keep your business running smoothly, keep your overall morals high, and keep your team performing at their best.
Lean to remote work
Employees are trying to balance work with other aspects of life. Their physical, mental and relationships are important areas that help people lead a fulfilling life.Balancing many aspects of happiness is the key to a fulfilling life, so accepting remote work is actually Full life frameworkA framework I came up with to help people live their lives to the fullest.
Staying away from commuting will give workers more time and will bring great benefits to everyone by allowing people to balance their work with other non-work activities and initiatives. I was commuting. You can spend more time with your family and have more time to spend on hobbies, exercises and other pursuits that bring you joy.
Commuting cuts have also reduced employee costs and returned some budget flexibility, without the expense of transportation, restaurant meals, and work clothes.
Physical comfort is another reason why workers appreciate the opportunity to work from home. People have the opportunity to customize their workspace to suit their individual needs. They can control temperature, desk setup, and physical environment. In general, they will choose more comfortable clothing, and are not limited to restrictive and unpleasant formal clothing.
Alao, people no longer drop in at your desk for long chats or unproductive activities. In the absence of busy background noise in the office environment, it’s easier to focus.
Improving productivity and improving the balance between work and personal life had a positive impact on the mental health of workers, resulting in an overall reduction in stress levels. With this in mind, it’s best to accept remote work and do it right.
How can I optimize remote work?
Working from home is the best way to do it, so you need to make sure it works for both your employer and its workers. There are important cultural and process changes that employers need to navigate to succeed.
1. Discard the old management mindset
Leadership in a successful remote environment must be performed top-down. Leaders need to be able to work with peace of mind so that their team can get the job done without micromanagement. Not managing the team in this way can cause unnecessary stress. By avoiding micromanagement, we and our employees can leverage their talents and expertise.
Delegation is an important feature of a good leader, as it gives employees the opportunity to potentially develop themselves and gives them ownership of the work, which increases their satisfaction with the work. If micromanagement was or was part of the culture, this is the most important and often the most difficult change in how the team operates.
For more information on how to delegate, see the other article, How to Effectively Initiate Task Delegation (Step-by-Step Guide).
Managed by output
I learned from Andrew S. Grove’s book High output management The importance of identifying important and measurable outputs. Teams need to measure by results, not by the time spent on work. Encouraging a culture of productivity means focusing on results that go beyond the time spent working on something. In other words, workers are no longer rewarded for long periods of time, but for achieving your goals.
Accept asynchronous work
Asynchronous work means that not all team members need to be online at the same time. Lifehack employs asynchronous work. All team members can work productively without waiting for others to complete their tasks. The key to asynchronous work is to trust talented employees and enable them to work autonomously.
2. Coordinate training offerings
Training employees in a remote environment remains important. Prior to work at home today, our employees were able to navigate new roles or responsibilities with limited guidance and escape with little training available. Workers work with various groups in the office to absorb work.
In a remote environment, this structure is gone and you need to pay close attention to how your workers are trained. Care must be taken to create specific training goals and document them in a clear and easy-to-understand format.
Online courses are more important than ever as the recommended training delivery method for the proper expansion of training. You need to add robust documentation, SOPs, guides, and FAQs to your course. You can use the various levels of learning management systems (LMS) currently on the market to build, manage, and deliver learning content. Some platforms simply host learning content, while others are robust enough to track and measure completion. The budget and internal resources available to manage these programs drive your organization’s choices.
Important Content Learning Notes – It’s important to have a robust review in a remote environment. The days when training was built but not used or allowed to become obsolete are over. To be successful in a virtual environment, your training must be accessible, relevant, and up-to-date.
Another great form of learning is resource groups. These are usually employee-led and focus on some form of learning, knowledge sharing, or social topics, such as diversity or inclusion. These groups are a great way to promote learning and social interaction.
3. Check in to a colleague
It is also important to stay in touch with employees while working from home. Technology is the best way to do this, allowing everyone to stay connected via messaging apps and video calling platforms. With so many collaboration tools to choose from, you can achieve great teamwork in the virtual world. Basecamp, for example, is a reliable tool for our team for project management and communication.
Encourage workers to add time to the calendar to connect with other employees. It’s okay to meet once in a while and catch up.
It is also important to pay attention to employee productivity. The majority of workers have shown high levels of productivity when working from home during a pandemic, but they can still encounter exceptions to this rule. Some workers may struggle to stay focused without the motive of a face-to-face environment. Leaders will continue to check in, provide these individuals with the support they need, and enable them to continue their transition to successful remote work as needed.
Some workers struggle to stay motivated, so encourage them to practice good self-management. Establishing good routines for them will be the key to helping them manage the new flexibility they find.
4. Consider the mental health of employees
The productivity gains seen in remote environments must not sacrifice employee morale or the employee’s individual mental health. Working remotely changes the way you interact with each other because you lose your direct connection.
We need to be aware of this risk and take steps to manage it. Virtual get-togethers during working hours are a great way to keep your employees healthy. To demonstrate the importance of these types of events, try to schedule them during your company’s business hours whenever possible. A great way to promote these types of events is to combine learning and social activities. That way, they are also fun and productive.
5. Hire people from all over the world
In addition to the great benefits of adopting a remote work environment for your current organization, there are some additional benefits to consider for future team members. Building a remote work structure gives you access to a broad talent pool for roles throughout your organization. You are no longer restricted to the talent pool near your headquarters, and you can attract talented employees from all over the world to your organization.
Providing remote work is also part of the overall benefits offered by your company and may overlap with companies that are not adapting to this new reality. Working from home has become a demanding benefit for many talented workers.
Will mass layoffs continue?
Mass layoffs are showing no signs of slowing down. That continues if the company is unable to adapt to the remote work environment and workers have more options available with potential employers who are willing to make a difference.
In some industries and corporate structures, changes cannot be made as easily as in other industries and corporate structures, and adopting a remote work structure can pose more challenges. Many companies may still struggle to get things done smoothly, even if they try to use the method of working directly in a remote environment. There are some industries where there will be a need to meet technical barriers in person.
With a change of mindset and a coordinated outlook from the leader, you too can navigate and prosper in this new reality. The future of flexible, output-driven work can be victorious for both employers and employees.
Featured Photo Credits: Laura Davidson via unsplash.com
https://www.lifehack.org/921847/the-great-resignation What can an employer do about it?