Ndi Nimisha Das,
Another sector of the industry is witnessing a major migration called the ‘Great Depression’. A recent Microsoft A Trends report states that 41% of workers worldwide want to quit their jobs in 2021. For the most sophisticated, the same survey shows that 59% of respondents do not share the same sentiments. For me, it makes me reflect on the fact that the employers must be doing well and the employees have reasons to stay in their current organization.
How, then, did the ‘Great Depression’ get started? This phenomenon cannot be described as a pandemic, and its roots go deep. Among other things is the effect of pent-up demands on both, the employer and the employee end. However, this gradual need is different in all areas where some need more than others. The idea of changing jobs or sectors was delayed because of the epidemic at a time when people were only thinking about what their goals were in life, so they only wanted better opportunities for themselves. As a result, from the employee this can also be seen as a ‘Great Return’. Employees recognize the real importance of their skills and are not ready to settle down and find a place that best suits their changing needs.
‘The Great Recognition’
In order to close the ‘Great Depression’, one has to continue to plan for the immediate, financial benefits and to meet the needs that have been established throughout the development. The aim is to develop the skills of employees at the corporate level and not just to support internal processes. Lack of recognition and appreciation in the workplace also triggers an employee’s idea of starting a new job. It is a great supporter and a hindrance to the harvest. Creating a recognizable machine within the company that rewards and recognizes people for their hard work can create a positive environment and promote the company’s loyalty. What is most striking is how the employee feels that he or she has an intention to share with the organization and what helps them to find satisfaction in his or her work. This is where the value-added personnel plan (EVP) comes into play. EVP is a promise to employers for potential skills. It attracts people with the mindset and desire to join an organization and creates a better way to win both sides.
Preparing for ‘The Great Return’
As we approach the achievement of ‘The Great Return’, it is important for companies to rethink their work environment. The plague produced the sixth ‘E’ of leadership (Envision, Energize, Engage, Enroll, Execute, and EMPATHIZE). Many organizations have endeavored to show compassion, sympathy for the workers during the epidemic. We need to reinforce this principle on a larger scale as we strive to strengthen employee and employer relationships and create a better system. A compassionate employer has been able to overcome a number of challenges in the last few years and is the one who will become a work ethic because of his or her compassionate work ethic. It can be a mixed type of work, more cooperation, more medical care or anything related to good health – physical, financial, emotional, and cultural. This will empower employees and make them feel appreciated and fulfilled. It can go further by establishing a trust component that will help retain and attract the right talent.
(The author is HR Director, Kellogg South Asia. The views expressed are personal and do not reflect the responsibilities or principles of Financial Express Online.)