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The Great Resignation and Employee Retention Challenges

By March 10, 2022February 21st, 2023No Comments

All the talk these days is about “The Great Resignation” with more than one-third of employees considering leaving their current positions and 60% rethinking their career. Nonprofits are not immune, and most are likely scrambling to fill positions as well as keep existing employees engaged.

Why are workers leaving and why are those laid off staying out?

Here are some of the top drivers:

  1. Maintaining Health – Concerned about perceived risks.
  2. Burned Out – Stretched at home and work.
  3. Depressed and Stressed Out – Anxious due to the pandemic and all that came with it.
  4. Stuck – Long-term unemployed and hard to go back.
  5. Pondering Meaning – Looking for more meaningful work.
  6. Work-Life Balance – Reevaluating home and work.
  7. Optimistic – Due to the high number of job openings.
  8. Retiring – Many are “Baby Boomers’ in their 60s and 70s.
  9. Increased Wealth – Have more wealth (homes and investments) and can wait.
  10. Increased Pandemic Savings – Using pandemic funds/savings for more recovery time.

Some good news on the horizon for non-profits

While most employers are focused on higher pay and enhanced benefits as a top strategy to attract and retain talent, it turns out that’s not what drives employee satisfaction and engagement. A 2021 study from Indeed, The Work Happiness Report, revealed some interesting data regarding what matters most to employees. Pay ranks 12th on the list of what actually makes us happy at work.

While only 43% of respondents were happy at work, 97% believed that happiness at work is possible.

The top drivers of workplace happiness; feeling energized, a sense of belonging, and a sense of purpose are well within the reach of non-profit organizations whose existence is generally tied to a clear mission. The key is in providing clarity on your vision, mission, impact, and employees’ contributions to each, as well as helping workers navigate to roles they love and where they will thrive.

SPECIAL EVENT: Mark your calendars for our webinar on Tuesday, May 10, 2022, when John Courtney, CEO of NextJob will address this topic and the evolving strategies employers are using to attract and retain talent in this highly competitive employment market.

The above content is provided by our friends at NextJob. 501(c) Services offers members complimentary reemployment coaching packages, through NextJob, to help them land jobs much more quickly. Contact us for more information on job search packages.

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