If a business is to remain competitive in the labour market, and retain all of its valued staff, then paying attention to employee satisfaction is critical.

The world of work is undergoing something of a quiet revolution at the moment, with workers looking to quit their jobs en masse in the wake of the pandemic.

What is the Great Resignation?

The Great Resignation is a hypothesised movement among workers, which suggests that large numbers of them have re-evaluated their work priorities over the course of the pandemic and the associated lockdowns. In the middle of 2022, around a fifth of UK workers reported that they were looking to switch jobs, according to a survey by PwC.

Whether this bears out in reality, and to what extent, remains to be seen.

It should be noted that during the pandemic we saw a fall in job-switching, as the uncertainty convinced many to stick with a familiar position, even if they knew it was sub-optimal. What we are seeing now might simply by a release of that built-up pressure.

How can companies mitigate the effects?

Companies might counteract this phenomenon by making themselves more attractive to workers. This might mean offering more money – which is sure to appeal to workers. But company benefits and working culture might also play a role. If you can benefit from electric car charging facilities, or an onsite gym, then you might be more inclined to stay in a given role. You might pay for certain expenses, especially if those expenses are incurred as a result of the job.

For example, you might elect to pay for fuel, or for a full motoring service every year, or for a company car.

More important than any given perk is the way that employees feel toward their employer. If there’s a culture of open conversation and feedback, then it’s easy to feel that your employer is looking after your interests. Creating the right working environment, and allowing for greater flexibility when it comes to working hours, is also worthwhile.

What happens when workers are satisfied?

When workers are happy in their jobs, they’re more productive as individuals. They’re also more likely to contribute to a broader culture of productivity in the workplace.

Happy workers, perhaps most importantly, are less likely to quit. This means that you’ll be able to retain their skills and experience, and that you won’t have to go through a potentially expensive process of re-hiring. High rates of staff turnover can indicate a toxic business culture, which can ultimately be fatal. Taking the steps to determine why workers quit, and what can reasonably done to stop them, is essential in the long-term.