The Nation Facing The Great Resignation

A man doing the school run

With more than two million UK adults leaving their job since the first lockdown in the Great Resignation, businesses are being forced to adapt to a new world where flexible working is the norm.

A good work/life balance and home working has been revealed in a survey to now be the top attractions for new recruits, more than competitive pay and bonuses.

According to the research from not-for-profit healthcare provider, Benenden Health, the average business in the UK has seen nearly seven per cent of its workforce leave since the summer of 2020, with employees readdressing their priorities and seeking new benefits from their workplace arrangements.

 

The Great Resignation

The Great Resignation has seen record numbers of workers seek alternative employment over the past year, with the number of open jobs in the UK surpassing one million for the first time ever in August 2021.

Whilst many employees have moved on to start a brand new career and others forced to find a job that fits their new circumstances, a significant number have simply switched jobs due to the way their business treated employees during the pandemic, highlighting the continuing challenge for firms to keep workforces happy and maintain a competitive advantage – and this is true in offices, on the shopfloor and out on construction sites.

 

Attracting the workforce

Almost two thirds of business owners (63%) explained that their employees place more value on work/life balance now than before the pandemic, whilst 40% acknowledge that they need to do more to stand out and attract new recruits. As the pandemic has also placed increasing importance on the health of employees, more than half of business leaders (58%) accept that they are putting themselves at risk of losing talent by not providing a strong wellbeing offering.

When asked what they consider to be the most important factor in attracting new recruits, UK business owners said that a good work/life balance was now top (44%), followed by flexible working (39%), with these now more important than offering competitive pay (38%). Positive workplace culture (32%) and training (22%) were also prioritised – more than more traditional benefits including opportunities for career progression (19%) and bonuses (17%).

Benenden Health is calling on businesses to consult with their employees quickly and regularly to understand what they can do to support them and then commit to do better. This will enable them to be competitive to recruit and retain the best talent as they continue to recover from the impact of the pandemic.

Naomi Thompson, Head of OD at Benenden Health, says: “A happy, healthy workforce is a productive one so the benefits of flexible working and wellbeing support are not only there for individual employees, but business operations as a whole. Crucially, building a strategy that includes these elements can actually be very affordable, despite the untold benefits it can have both today and in the future.”

Picture: More people want flexibility in their work hours.

www.benenden.co.uk/for-business

Article written by Cathryn Ellis
21st February 2022

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