Companies across the globe are witnessing great resignations on a large scale. Post the COVID-19 pandemic, there’s a wide mismatch between an organization’s work environment and what its employees desire. The employees are re-evaluating their career choices and priorities, and as a result, hundreds and thousands of workers are quitting their jobs.

Various sectors in India, especially IT, have been experiencing strong tremors, resulting in significantly high attrition rates. As employees in large numbers rush towards the exit doors, companies have no choice but to use this as an opportunity to focus on how they can improve their approach in retaining employees.

The modern workplace is changing, and so are the resignation standards. Nowadays, employees seek not only high salary expectations but also a number of non-monetary benefits. Furthermore, other factors that influence an employee's decision to resign include poor work/life balance, reluctance, lack of appreciation, feeling burnt out, and reshuffling.

A recent report by Michael Page suggests that “61% of Indian employees are willing to work even at low salaries for enhanced well-being and a better work culture that promotes happiness”.

1. Workplace: A second home
   According to recent studies, the average employee spends around a quarter of his life at work - which is why some people even call their workplace their second home. Work culture is something more than just a buzzword; it's the cornerstone upon which any business is built. Your staff are the people who will make your business successful; thus, by prioritising their benefits and fostering a positive company culture, you have the opportunity to lead by example and inspire loyalty in your employees. This will help an organization get through a tsunami of resignations in the first place.
   
   Surveys have also indicated that a significant jump in employees across the globe are willing to stay on the job as long as they are being trained and taught new skills. Hence to retain employees organizations have to actively explore training and programs to this effect. Organizations can’t expect people to stay if they don’t allow them room to grow, make them feel at home, and provide them with prospects for career advancement.
   
   Here are some creative ideas that can help you transform your workforce vis-a-vis a great resignation:


2. Bridge the skill gap
   The Great Resignation has also brought to the fore the growing skill gap across industries. From old economy jobs to high-tech jobs, there are just not enough qualified candidates for several positions. The transformation in business operations and instability in the job market has made employees realize the growing need to future-proof their career with diverse skill sets. Implementing training and courses in organizations will not only help to retain employees but also create a highly skilled workforce – and transform the “Great Resignation” into the “Re-skilling Revolution”.


3. Empower through L&D opportunities
   Companies can build a great reputation for themselves by investing in their employees' development and providing forward-thinking workplace policies. This allows for rapid learning and development opportunities, which encourages employees to upskill and cross-skill. As a result, the organization can retain its top talent while promoting a positive work environment.


4. Time for a great re-evaluation
   Businesses seeking to implement and expand their skill training programs should primarily conduct full skill audits. This will help them to identify which skills will be most relevant in the coming years and plan their upskilling programs accordingly. Additionally, skill assessment should be a regular part of the quarterly review process to align employee upskilling opportunities with the company's strategic needs. Above all, communication will be key to success. Constantly talking to employees and stakeholders to get their feedback ensures that everyone is on the same page.
   
   As the number of growth-minded employees seeking to explore better opportunities rises steeply, businesses should use this opportunity wisely and re-think strategies to hire new talent, while also retaining their present workforce by building a purpose-driven, resilient, and people-centric workplace.

Also read: How to retain your top talent during great resignation.