Can Your Benefits Survive The Great Resignation?

As the economy moves into a post-pandemic phase, employee attitudes and expectations of employers have changed drastically. Now that we know remote work works, employees are more empowered than ever—with many increasingly unwilling to take on roles that require sacrifices to their quality of life. Across the UK and US, millions have quit their jobs in what is being called, ‘The Great Resignation’. 

Job vacancies hit a record high this past July, with available job posts surpassing one million for the first time in history.

It appears that the rubber has hit the road for those under the illusion that work culture would go back to pre-pandemic norms. There are two factors at play here: 

  1. Survey after survey coming out of the pandemic has shown work-life balance is now valued more highly than any other factor, salary included.
  2. Job supply is outstripping talent demand across all sectors. Businesses cannot grow without a strong pipeline of talent, and jumping ship has become easier than ever in today’s digital workplace. 

How prepared are you for what’s to come?

Employee satisfaction and happiness must be taken seriously, and in fact are quite simple to ensure. There are a few obvious steps you can take as an HR leader to protect your organisation.

Start by reassessing your organisations’ benefits package as a matter of urgency. It’s important to offer perks that are pertinent and supportive of employees’ preferences to work both at home and in-office. 

If facilitating a ‘return to office’ is important, what is being done to ensure the benefits outweigh working from home? Does your new office plan have a suitable amount of meeting space? Are team socials occurring to help employees feel the commute time is worth it? Do working parents have the right family support

Prior to the pandemic, low job satisfaction and high employee stress levels were the norm, but with nearly two years of savings and plenty of down time people are prepared to hold out for what they want.

Offering a competitive benefits package is no longer an exercise of status, but rather a matter of business survival. 

Take the pledge

We’re calling on business leaders across the UK to commit to accelerating progress for the advancement of our economy, and join a community of organisations formalising work-life balance and workplace family support. Visit here to learn more.