How are you dealing with the “Great Attrition”?

There’s certainly more data available on the mass exodus from organisations in the west than in India (19 million workers have quit since April in the US) but all the informal conversations I’ve had with HR and business leaders indicate that this is a very real concern for us as well.

Mckinsey published the results of a survey of employers and employees across 5 countries a couple of months ago and it makes for interesting reading. Key points:

1. The high rates of turnover are likely to continue for a while; 40% of employees in the survey said they are likely to quit in the next 3–6 months. And even the 60% may be tempted to leave, given the expansion of “location agnostic” positions.

2. Employers seem to be attributing the move to transactional factors whereas employees are moving for relational reasons.

For example: the top three factors for attrition according to employers were compensation, work–life balance, and poor physical and emotional health. While these did matter to employees, they didn’t matter as much as employers thought.

The top three factors as per them were that they didn’t feel valued by their organizations (54%) or their managers (52%) or because they didn’t feel a sense of belonging at work (51%).

Some questions for all of us to ask ourselves as we make this transition

1. How equipped are our leaders and managers to lead with compassion and empathy? To build relationships of trust with their teams?

2. How are we dealing with toxicity in the environment? People are likely to be much less tolerant of exclusion and insensitivity than they were earlier.

3. How strong was our culture to start with? How much are we willing to flex it to address what people need?

4. How much of our environment is transactional vs relational? What are we doing to build a sense of community?

I’d love to hear what you’re doing — it’s exciting to live through a time where we have a real opportunity to reshape the way we live!
#leadershipjourney #leaders

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Navgati is a leading provider of innovative learning and coaching interventions, aimed at improving the performance of organisations and adding value to people