News Spotlight

Burnout is getting worse. In a new report from Glassdoor, the number of reviews mentioning burnout has hit the highest level since 2016, a signal that recent layoffs and rising unemployment are taking their toll (Inc.).

The hourly labor market cools. While companies struggled to fill hourly roles in the recently booming job market, the tables have turned and lower-wage jobs are now fewer and farther between (The Wall Street Journal).

Companies and workers don’t see eye-to-eye on AI. In a recently released study from Upwork and Workplace Intelligence, corporate leaders signaled high expectations for AI, while employees are not seeing the payoff (CNBC).

Stat of the Week

A recent study finds that 40% of U.S. Gen Z and Millennial workers said they would leave their company if their CEO expressed political views in opposition to their own. Despite this firm point of view, 54% of workers say they’re uncomfortable discussing politics at work.

This is a sign of the times when a wedge has been driven between Americans based on their political perspectives — especially as we gear up for an especially contentious presidential election. With these issues nearly impossible to avoid completely, employers are currently walking a tightrope between supporting their employees, expressing their points of view, and keeping politics out of the workplace.

Deep Dive Article

7 Ways to Combat the ‘Great Detachment’ and Retain Your Employees

While the hot labor market has cooled and the “Great Resignation” seems to be in the rearview mirror, retention remains a major task for HR leaders. With many changes afoot in the world of work — from AI to hybrid arrangements — managers and employees alike are adjusting to the new normal, something that inevitably comes with growing pains that can seriously impact employee experience.

U.S. quit rates have held relatively consistent over the past year, coming in at 2.1% in June, unchanged from the month prior. This is largely attributable to the cooling job market, signaling that more employees are staying put. But that doesn’t mean they’re not seriously considering leaving their jobs or exploring other options. Today, one in two U.S. employees (51%) are open to leaving their current jobs, the highest percentage in nearly a decade. More than half the workforce is not committed to their company in the long term, suggesting that employers could face another surge of turnover in the coming years.

Underpinning an employee’s desire to leave their job can be many complex, personal factors. However some consistent trends point to mounting frustration in the workplace. Recent studies have shown that employee engagement and happiness are both the lowest they’ve been in years, while only 31% of employees report that they are engaged, enthusiastic, and energized by their work.

This is all fueling what some are calling the “Great Detachment,” where a growing sense of dissatisfaction is leading employees to quiet quit — or just quit. In either case, this detachment can have major ripple effects throughout the workplace, diminishing productivity, further fueling frustrations, and leading employees to focus on finding work elsewhere.

The financial impacts of voluntary turnover cannot be understated. On average, each departing employee costs an organization over $18,500. Some estimates suggest that employee disengagement alone costs the global economy nearly $9 trillion per year — that’s 9% of the global GDP. This is a significant business issue for many workplace leaders, one that studies indicate could magnify in the coming years.

​Recent research from isolved highlights these concerns and shines a light on what exactly is sending employees on the job hunt. The study found that nearly half of employees would look for a new job due to poor company culture. On the positive side, one-third of employees say that company values and culture are significant factors that motivate them to accept a job offer. This shows that a strong culture is not only a tool for retaining top talent, but also for attracting it.

Overall, 58% of employees say they’re planning to explore new job opportunities in the next 12 months — 11% more than in 2022 — reinforcing that time is of the essence for business owners to address any shortcomings in their company culture.

“Finding and keeping talented employees has become increasingly complex in recent years, with evolving employee expectations shaping the landscape.” According to Celia Fleischaker, CMO of isolved, many business owners have found the process of adapting to these changes strenuous and complex. However, there is a silver lining. “The key to overcoming recruitment and retention challenges lies in prioritizing a company culture that matters and an employee experience (EX) that counts.”

To stay ahead of the growing sense of dissatisfaction in the workplace, HR leaders must address how their workplace culture can foster or deteriorate worker happiness and satisfaction — key drivers of employees’ decisions to stay or go.

Here are 7 ways to build a positive workplace culture that combats the “Great Detachment” and encourages employees to stay:

1. Define clear organizational values and mission and share your vision with employees. Employees need to understand and believe in their company’s mission, values, and goals. When they feel that their work contributes to a greater purpose, they are more likely to remain committed. Additionally, employees need to see that their company’s values are consistently reflected in policies, decision-making processes, and leadership behavior.

2. Cultivate an inclusive workplace by prioritizing diversity and inclusion and providing equal opportunities. A culture that truly values DEI&B (Diversity, Equity, Inclusion, & Belonging) is essential to fostering a strong employee experience and ensures that all workers feel included and respected. Providing equal opportunities for growth, recognition, and advancement regardless of background fosters fairness and trust.

3. Build strong communication channels with mechanisms for two-way feedback. A culture that encourages open dialogue and feedback helps employees feel heard and respected. Regular check-ins, surveys, and open-door policies are crucial. In addition, workplace leaders and managers must regularly recognize and reward employees for their hard work and accomplishments, boosting their morale and motivation and underscoring their value to the team.

4. Provide opportunities for growth through career and professional development. Providing training, mentorship, and career advancement opportunities shows employees that the company is invested in their growth. In addition to development opportunities, the work itself must be fulfilling, challenging, and meaningful, helping to keep employees engaged and building new skills on the job.

5. Ensure work-life balance and employee well-being through flexible, safe, and supportive workplace policies. Offering flexible work hours, remote work options, and understanding personal commitments helps employees maintain a healthy balance between work and life. Meanwhile, policies such as parental leave, mental health days, and vacation time contribute to overall well-being and reduce burnout. Finally, leaders must provide a safe and comfortable work environment, conducive to productivity and helping employees feel cared for.

6. Empower employees through trust and encouragement. Empowering employees to take ownership of their work and make decisions fosters a sense of responsibility and pride, along with a deeper sense of meaning and understanding in the work. Additionally, allowing employees to innovate and contribute ideas without fear of failure creates a dynamic and forward-thinking culture that employees want to be part of.

7. Provide stability and job security by providing fair compensation and consistent policies. Perhaps the most important step a company can take is to offer competitive salaries, benefits, and job security, all of which contribute to a sense of stability and satisfaction among employees. In addition, consistency in company policies and practices helps employees feel secure and reduces anxiety about job stability.

Invest in tools for retention

The steps above are essential to fostering a positive workplace culture that encourages employees to stick around and grow within and beyond their roles. Strong HR tools are also important to help make sure employees have what they need to manage career growth — from learning new skills to communicating with leadership to adapting to payroll and benefits changes.

A great model for this is Chileda — a nonprofit improving the quality of life for children and adults with behavioral challenges — which prioritizes internal promotions and reports that 90% of its positions are filled internally. Recently, Chileda began working with isolved, leveraging tools around learning management, time & labor management, payroll, and more — all of which support internal hires on their career path through the company. Chileda reports saving $150,000 per year in hours saved through more expedient hiring processes, underscoring the business case for prioritizing retention and investing in the tools needed to make the process smooth for workers and managers alike.

Thanks for reading — be sure to join the conversation on LinkedIn and let me know your thoughts on this topic!

Quote of the Week

“Before anything else, preparation is the key to success.”
​Alexander Graham Bell