Updated 12 months ago
Entering the era of the 'Big Stay'
By Tiffany Moustakas, Editor at LinkedIn NewsUpdated 12 months ago
Move over, The Great Resignation, a new workplace trend called the “Big Stay” is emerging, resulting in fewer employees quitting and fewer job openings, Insider writes. New data from ADP's Research Institute found that although there were 9.6 million job vacancies in March, openings overall have gone down 20% from the 12 million in 2022. And in the first three months of 2023, the amount of people who quit their jobs only decreased 5%. Still, experts tell Insider that job hopping hasn’t necessarily changed for blue-collar workers, and The Great Resignation could always reemerge.
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The "Big Stay" versus the "Great Resignation". Boils down to one key question: How are you treating your employees? If your employees have a clear path to their goals, are well compensated and empowered, they will not leave. If your employees are underpaid, micromanaged, or treated unfairly, they will leave to find another employer who will treat them right. In my eyes, it's really that simple. In the face of uncertainty, now is the time to invest in your people and build powerhouse teams. Your people will repay you in spades. Worth noting, it's fascinating that job changes remain high for blue collar workers while remote workers are changing jobs less. https://lnkd.in/gGzivMMH #BigStay #GreatResignation #linkedin #sales
🌟 The Great Resignation is Transforming into the Great Stay! 🌟 🚀 As the dust settles, a new wave of workplace evolution emerges. The once-talked-about Great Resignation is transitioning into the era of the Great Stay. 🌐 🔁 Employees have spoken loud and clear, advocating for #worklifebalance, #purposedriven careers, and a sense of #belonging. More companies are recognizing the need to step up to the challenge and redesign their strategies to foster a thriving, engaged workforce. 💪 🌈 Organizations embracing #flexibility, remote work, and hybrid models are empowering talent to achieve professional growth while honoring personal commitments. The future of work lies in cultivating environments where employees can bring their whole selves to the table and thrive. 🌍 💼 Employers, this is the time to invest in your people, nurture their potential, and create a workplace that fosters innovation and collaboration. Show that you value their skills, ideas, and well-being. Your employees will reciprocate with loyalty and dedication. 🤝 ✨ Let's shift our focus from the exodus to the evolution! Together, we can build cultures that attract, retain, and nurture the brightest minds. 🌟 #GreatStay #WorkplaceEvolution #EmployeeEngagement #CultureTransformation #FutureOfWork #AIenhanced
New labor market data indicates a changing tide in job quits and stays. In this episode of MainStreet Macro, ADP Chief Economist Nela Richardson takes a deep dive into the data to examine the factors that led to the "Great Resignation" to see how the workforce landscape has changed. For more insights, please visit: https://bit.ly/3VkyGx7
Hopefully, this labor market trend that appears to now favor the employer will not result in a return to some bad habits - treating employees as a fungible expense versus an important asset. #employees #greatquit #greatresignation #engagement #asset
Whilst we may be seeing some daylight at the end of the “great resignation” tunnel, organisations are still finding their top talent leaving for pastures new in search of complete happiness. Here are some tips from work we have supported organisations with recently that have a proven success to help in leading teams with psychological safety for improved retention: 1) Establish clear expectations: Communicate the expectations, roles, and responsibilities of each team member. This will provide clarity and help in reducing confusion. Clearly define goals and objectives, and establish timelines for completion. 2) Encourage good communication: Positive and constructive communication is a key component of good team dynamics. Encourage your team members to ask questions, express their concerns, and provide feedback to each other. 3) Provide feedback: Provide your team members with constructive feedback. Provide recognition and celebrate their achievements to boost their confidence. 4) Create a supportive environment: Encourage teamwork and collaboration between your team members. Foster an environment where diversity is valued, and all opinions and ideas are respected. Encourage peer-to-peer support. 5) Lead by example: As a leader, model behavior that promotes psychological safety. Exhibit behaviour that shows your team members that it is okay to make mistakes, take risks, and ask for help. 6) Invest in training and development: Offer opportunities for your team members to acquire new skills and knowledge. Encourage them to take on new challenges and responsibilities. Also offer the same to yourself as a leader. You can’t be expected to know everything at a time where everyone is learning following unprecedented times. 7) Celebrate successes: Recognise and celebrate your team members' successes and achievements. Acknowledge their hard work and contributions. Celebrating success will promote a positive and motivating work culture. #learninganddevelopment #newexpectations #psycologicalsafety #wellbeing #mentalhealth #culture #effectiveleadership #effectivecommunication #humanisedleadership #humancapitalmanagement Abbigail Henrietta Williams Tina Frost-Lutman Nicki Moore Harry Spencer Serena Guthrie MBE Brendan Purcell Tony Strudwick Simon Blake OBE CCMI Dave Bourn - Improv for Teams and Personal Well-being Ayming
BIG STAY after the GREAT RESIGNATION! Have you heard about the latest workplace trend that's causing a stir in the labor market? Brace yourselves for the rise of the "Big Stay" phenomenon, where employees are opting to stick around, resulting in fewer resignations and job openings. Insider recently highlighted this intriguing shift, shedding light on the changing dynamics in our professional landscape. According to new data from ADP's Research Institute, job vacancies in March stood at a staggering 9.6 million. However, here's the surprising twist: overall job openings have actually decreased by 20% compared to the 12 million recorded in 2022. 📉 Moreover, the report revealed that the number of people quitting their jobs only witnessed a marginal decrease of 5% during the first three months of 2023. While this may seem like a shift towards stability, experts caution that job hopping hasn't necessarily changed for blue-collar workers, and the possibility of The Great Resignation making a comeback is still on the horizon. As we navigate the shifts in the healthcare workforce, let's reflect on the valuable lessons learned from the Great Resignation. Here are the top 3 takeaways for me: 1-Lesson of Purpose: The Great Resignation reminded us of the importance of purpose-driven work. Healthcare professionals seek meaningful connections with their roles, patients, and organizations. Employers must prioritize creating environments that nurture a sense of purpose, allowing healthcare workers to make a positive impact on the lives of others. When purpose aligns with passion, extraordinary dedication follows. 2️-Lesson of Well-being: The pandemic shed light on the critical need for prioritizing healthcare professionals' mental and physical well-being. Burnout, fatigue, and emotional exhaustion became prevalent, highlighting the urgent need for comprehensive well-being programs and support structures. Employers must invest in resources that address mental health, work-life balance, and professional development, fostering a culture of care that ensures the long-term success and satisfaction of healthcare professionals. 3️-Lesson of Communication: Effective communication emerged as a crucial lesson from the Great Resignation. Open and transparent dialogue between healthcare professionals and employers is vital. Listening to the needs and concerns of healthcare workers, acknowledging their contributions, and involving them in decision-making processes fosters trust, engagement, and a sense of belonging. Strong communication channels and feedback mechanisms empower healthcare professionals to be active partners in driving positive change. What other lessons have you learned from the Great Resignation in healthcare? Share your insights and let's continue the conversation! #GreatStay #WorkplaceEvolution #EmployeeEngagement #CultureTransformation #FutureOfWork #litrendingtopics #healthcareonlinkedin