Do you know that there were 10.9 million vacant jobs in July 2021 only in the US? Well, the entire month had a record-breaking resignation outbreak of 4 million Americans that cost the entire production and economy. The pandemic statistically made working conditions the worst, and the effect is ongoing.
More than six months later, the effect of this phenomenon is still being felt across fields. Digital marketing may seem like a corner of the workforce that would remain untouched or at least easily transition during this time, but the truth is that digital marketing is just as vulnerable. Firms will have to find ways to adapt in order to stave off the effects of the Great Resignation.
The Great Resignation and its Consequences
The recent spike in the resignation rates has kept HR professionals on their toes. Employees are walking away from jobs in search of work-life balance. The other routes they are opting for include switching careers entirely or starting their own businesses.
According to Hibob and Fiverr research, marketing/advertising, sales, R&D, product, engineering, and business development firms have a high negative productivity impact of such turnovers.
As for the digital marketing sector, that high turnover leads to gaps in skill sets that directly impact your work and disrupt the client-agency relationship. Because clients need time to adjust well with agencies that understand their ideology and design concepts, any resignations that occur in the middle of a campaign negatively impact its KPIs. And during a global pandemic is not the right time to lose any client.
How Managers Can Mitigate Such Effects
You, as a manager, cannot force an employee to work with you, but you can ask for feedback in order to maintain a positive work culture and resolve problems that arise. Here are some of the most effective ways to help you prevent the Great Resignation.
#1 Connect with the Employees & Know the Root Causes
Each employee working for the firm deserves the utmost attention. And this means going beyond just recognition for their work. As a manager, you need to communicate the firm’s ideology and goals in order to inspire them by letting them know what they are working for. This will help them realize what their individual job means to the brand’s success.
The talk and resolve method is effective in any part of life. Keep abreast of the barriers your team is facing and quantify them as a whole.
#2 Introduce A Hybrid Working Environment
According to Conference Board Research data;
- 67% of employees want hybrid working conditions.
- 20% are in favor of only remote work.
- 4% want to only work from the office.
In fact, in the last 5 years, remote working models have attained a reputable name in the market.
Source: Upwork
Let’s assume that you don’t want your greatest asset working for a rival only because you wanted to build a better communication network at your physical office. At this point, being open to hybrid working hours is a must.
#3 Focus on Rewards & Compensations
As previously stated, the pandemic has hit every sector, and it’s not easy to give bonuses and other monetary rewards to the employees. You should revise the salary structure based on the quantitative response to a specific limit. And additionally, introduce other appreciation rewards for those who have been there with your thick and thin.
For instance, you can launch a magazine of your firm’s superheroes and promote them on social media. Celebrate their success stories and designate a budget to give recognition awards.
#4 Acknowledge Burnout Stress
Since the pandemic hit the world, work-life balance has all but vanished. Employees are stressed out and so they resign because they don’t feel their firm is addressing the newfound difficulty with boundaries and mental health. Be the change they all are looking for! Dedicate an hour or two to the ‘stress-out time’ and let them do whatever they want to. Not only has it increased workloads, but COVID’19 has led many people to lose their loved ones. As a manager, you can empathize and let them know that you are aware of their existence outside of work.
Moreover, organize some fun events and make your team feel more comfortable with others. Working remotely doesn’t have to stop you, there are many virtual team-building tools available.
Adapt and Grow!
Employees are the backbone of any firm striving for or already thriving in success in any industry. The great resignation brought downfall to many healthcare, tech, and other sectors that need an uplift. You cannot remain stagnant and expect employees to stick with you. Rewarding, appreciating, and connecting with them can be the best decision you take amid the pandemic. Learn what your team wants, adapt the proper measures, and prevent the great resignation from affecting your company. While many are slipping behind the times, use this as an opportunity for innovation in the digital marketing industry.
