Push and Pull Factors for employee movement – the ‘Great Attrition’ and the ‘Great Resignation’ 

Michelle Bentley - General Manager - Hender Careers - 12 September 2022

What can Employers and People & Culture / Human Resources learn from current trends – what can they do to ‘stem the tide’ of talent leaving and going elsewhere and to seize on opportunities to appeal to talent to fill the vacancies?

Recent global research by McKinsey (McKinsey Quarterly July 2022) revealed that “40% of respondents indicated a likelihood to leave their current job in the next 3-6 months across multiple industries such as health care, education, leisure and hospitality, white collar and production of goods. And 36% had left their jobs in the past 6 months reportedly did not have another job in hand”.

They are staggering figures – good for some but not good for others! 

Research is showing a shift in employee priorities and the retention factors that are important to keep them engaged and satisfied. Relational factors are higher on employee needs, not so much transactional factors often perceived as important by employers. This is leading to a disconnect between employers and employees.

Relational issues considered important by employees include “leadership style, recruiting well, a business culture that demonstrates it values people, satisfiers that aren’t just focussed on salary but benefits that align with employee priorities, development opportunities, career pathways and building a sense of community”.

The McKinsey graph below clearly outlines factors of more or lesser importance to employees. Some employers have not appreciated sufficiently factors such as feeling valued by the organisation and their manager, feelings of belonging, caring and trusting teammates and flexible work schedules – although most of these elements are thought to exist in abundance by employers! 

The challenge – how to find a balance in mindsets - in thinking and feeling; a balance of mutual gratitude for ROI (return on investment) and ROE (return on effort).

How green is your grass? 

It’s Spring – the season for fertilizing and good rains! No time to waste – 

Employers / HR - act now to keep your talent or lose it to potentially greener pastures!

Employees – beware the perceived attraction factors of greener grass – they do not always live up to appearances and expectations!

If you do not have a ’green thumb’ give us a call – Hender Careers 08 8100 8844