Big Quit: Will employees soon be running away from you?

They are the bugbears that make HR professionals cringe. This year, we're hearing terms like "big quit" and "great resignation" more and more often. Studies now prove the phenomenon, which originated in the USA.

As "Great Resignation" or "Big Quit" is the term used to describe the largest voluntary redundancy wave to date in the USA and beyond its borders, the causes of which are still being investigated. It is still unclear to what extent this trend will spill over into Germany. However, what cannot be explained away here in Germany is the Record highthat the shortage of skilled workers will reach in 2022. More than 850,000 posts have been unfilled in Germany for the year 2022 until August.

More than ever, therefore, companies need to make an effort to attract talent and take active measures to retain employees. We will discuss these measures in more detail below.

German willingness to switch has increased

A current Forsa study by XING E-Recruiting from 2022 found that one:r in four quit their job even if a new employment contract has not yet been signed. 37 percent of the study participants said they were open to changing jobs or had even already taken active steps. Compared to the previous year, this represents an increase of twelve percent.

The largest proportion of workers willing to change jobs is between the ages of 30 and 39. In mid-career, almost one in two (48 percent) is ready to accept a new job offer.

Another factor makes it even more difficult to recruit employees. The Application process is taking longer and longer in German companies. Whereas in 2010 this lasted an average of 57 days, in 2015 it was already 86 days and in 2022 a full 124 days. Pioneers in this area are already using data-driven recruiting to reduce the Time-to-hire reduce.

Corona and employee retention

How big an impact has the Corona pandemic had on weakened employee loyalty? According to 25 percent of the German respondents and as many as 40 percent of the Swiss, the pandemic has indeed influenced their decision to change jobs.

The Corona pandemic has disintegrated the status quo of the modern world of work and has been accompanied by uncertainty, hiring freezes and high psychological and professional stress for many employees. The fact that the wave of layoffs was conspicuously strong in the following industries is particularly indicative of a high workload as the cause. Tech and health The pressure to perform was particularly high at that time.

Other factors could also have come into play through short-time work or a job loss: Affected individuals had time during the pandemic to reframe their work and life goals. With society's increased focus on health, more and more people have re-evaluated whether the job is detrimental to their well-being due to stress, for example, or whether their current job is compatible with their new work-life balance. Regardless of the cause, however, one thing is clear: Especially now that employers are asking their employees to come back to the office, corporate culture and sense of belonging are once again being put to the test.

The search for causes leads into the company

Is the office still worth the drive? What may sound defiant at first sometimes stems from very natural concerns. The daily trip to and from the office costs time and poses additional health risks on public transport.

Many aren't ready to return to the old status quo, because the home office, despite increased workload, has become more self-determination and freedom in the design of work. If companies take these factors away from their employees by forcing them to return too quickly, the risk of a professional reorientation increases.

The XINGing E-Recruiting Study of 2022 was able to show that flexible working and self-determination are no longer just desirable, but are now a prerequisite. According to XING respondents, these job attributes are particularly important:

• 59 percent: Good leadership behavior
• 57 percent: Flexible working hours
• 54 percent: Higher salary
• 52 percent: Personal fulfillment of meaning
• 52 percent: the ability to work remotely

Companies should derive their measures from this as quickly as possible.

What measures help with employee retention?

Companies and HR departments willy-nilly have to move with the times. New concepts and solutions for employee retention are needed if they want to improve their employee retention. Data-driven HR and recruiting strategies are an important key to doing this.

Recruiting

The cultural fit is becoming an increasingly decisive factor in whether an applicant joins the company or whether employees stay for a long time. To determine this, companies need to look at their own corporate culture and values. This can also mean putting previous considerations on this topic to the test.

Employee retention

On the other hand, there is no reason to wait until employees become so dissatisfied that they leave the company or allow themselves to be poached. Attention should be paid to the existing workforce as well as to employee recruitment. Surveys and mood barometers can help capture the current situation and formulate measures.

Co-creation is the keyword here. Companies should involve their employees in the change process and let them participate in shaping the new work culture. In this way, they create a higher level of identification and do not risk an expensive shot in the dark.

And the desire for a change should also be taken seriously. Targeted further training offers can provide employees with new career prospects and express their importance to the company. In the best case, bosses can even fill difficult-to-fill positions internally. This job crafting in turn leads to an increased sense of self-determination and is therefore becoming an increasingly important means of employee retention.

Leadership training

Last but not least, coaching for management should also be offered. The changing conditions of the working world have led to more pressure and uncertainty here as well. Managers and team leads had a special burden to maneuver their teams through uncertain times. Now they face the next immense challenge of creating a new standard for flexible work that keeps business goals in mind, despite a volatile labor market.

Many expectations must therefore be brought into line. Leadership coaching also helps to sensitize the management level to these issues and to provide new impetus. This empowerment of managers is necessary in order to adjust to the changed expectations and to implement them in the individual teams.

Conclusion

The past two years and their effects can no longer be wiped away. Nevertheless, now is the right time for change, because the employees are not out the door yet.

Even if the Great Resignation has not yet reached its full extent in Germany, employers and HR managers should already initiate important measures for employee retention. One important measure is training in the form of upskilling and reskilling.

StackFuel training helps decision-makers and companies prepare themselves and their employees for critical job positions. Digital skills make your job easier and qualify professionals for technical and data-driven job roles. Whether learning or career paths, we offer the right HR development solution for companies.

Pioneers such as Deutsche Bahn and Daimler are already successfully training their employees through us. Would you like to find out what their learning journeys look like and what successes they have already celebrated? Talk to us personally and we will develop the right business solution for you.

Get a free, no-obligation consultation on how StackFuel can strengthen your employee retention with certified online training. Choose a free date here.

Sources

XING (2022): "Study by XING E-Recruiting: In the German-speaking world, one in four people resigns without having a new job" [24.08.2022]

XING (2022): "Willingness to change: an opportunity for professionals - and recruiting" [24.08.2022]

Kununu (2022): "The Great Resignation - have you resigned yet or are you still thinking about it?" [24.08.2022]

Human Resources Manager (2022): "The Great Resignation: self-determination is in demand". [24.08.2022]

Microsoft (2022): "Work Trend Index 2022: Great Expectations: Making Hybrid Work." [24.08.2022]

Brave New Leaders (2022): "Creating a workplace worth the commute" [24.08.2022]

Statista (2022): "Annual average stock of registered job vacancies¹ in Germany from 2011 to 2022". [19.09.2022]