Another Day, Another Open Headcount
The Great Resignation Part II:
Hiring Managers, We See You
All this “Great Resignation” talk conjures up images of professionals lying on the beach with cocktails in hand. But what about the leaders who are on the receiving end of the resignation notices?
It’s tough for me to write this blog post because as a Director in the Global Marketing Organization at Starbucks and as Head of Creative Operations at Amazon, the single thing I dreaded most was losing valuable employees.
Now in the Executive Coach’s chair, I’m speaking with leaders about the practical and personal impacts of employee turnover.
Why is Everyone Quitting?
First, not everyone is quitting—though some days you may feel that weightiness on your shoulders. The Microsoft Work Trend Index found that 40% of people want to change jobs this year. This number may seem high, but consider how we got here.
- If the average employee tenure is 5 years, this means 20% of the workforce changes jobs each year. With COVID-19 upending just about everything for 15 months, many people paused their plans to find a new job. As a result, more people will change jobs this year as a natural part of their career growth.
- The psychological impact of the pandemic initiated a re-evaluation of purpose and lifestyle. Meanwhile, the connection between work and location has unraveled. Simply put, priorities have shifted. Your employee’s mindset evolved significantly over the last 18 months.
- Multiply these factors by the number of job openings and the power of groupthink (if everyone else is doing it, it must be right), and here we are.
Now What?
Your initial response to an employee’s resignation may be panic. You may feel rejected, fearful of how the rest of the team will react, frustrated that you need to add recruiting to your packed calendar, and perhaps experiencing a degree of grief for losing a trusted colleague. Notice your reactions and recognize that transitions are natural.
When the initial sting subsides, here are 4 steps to steer forward with:
- In the short term, what level of business continuity is mandatory and what expectations do you need to set cross-functionally for the interim period? How can you and your team stay above water? When prioritizing, are you clear which activities will have the most impact? As Gary Keller asks, what’s the ONE thing you can do such that by doing it everything else will be easier or unnecessary?
- Before immediately recruiting for backfills, assess your workforce strategy. Examine your org chart—is your structure optimal for the next phase of your org? What is a future employee looking for, and canyou articulate why they would want to join your team?To help with this process, learn from your departing employee. Even if your company has an exit interview process, meet with them individually to seek their insights. Ask questions to uncover themes, such as:
- What advice would you give me to prevent another great person like you from taking a call from a recruiter?
- What do I need to know that people aren’t telling me?
- How could I create a better experience here?
- If you could change anything about your job or this team, what would you change?
- Would you recommend this company/team to a friend? Why or why not?
- What was your best moment in this job? What was your worst?
- Recognize that your remaining team is looking to you for reassurance. They are experiencing their own grief and may question if they, too, should resign. Use this moment to be human and care personally while expressing your growth mindset.
- Historical patterns show that hiring and turnover trends ebb and flow, correcting themselves over time. Keep your eyes on the long game and use this point in history as a catalyst to build a stronger team. What would you hire for today that you would not have in the past? How can you re-build or round out your team with additive skills and diverse, fresh perspectives?
Remember: You Are Not Alone
The high number of job vacancies is a global issue. Strategize with—and find comfort in—your network. Engage a recruiting firm or staffing agency for assistance. Partner with an executive coach for senior-level strategies to navigate this turbulent time and refine your leadership impact. We are happy to support you with strategy and thought partnership. And remember: You got this!