Why is everyone talking about… the cost of quiet quitting?
Welcome to Personio Pulse: This Week in HR, where each week we take a look at the latest trends in the world of work, what you need to know about them and what they mean for you as an HR professional.
This week we’re talking about the £257 billion cost of quiet quitting and what your HR team can do about it.
What you need to know
Quiet quitting may be a buzzword that some feel is overhyped, but it's been found to be costing the UK economy an undeniably large amount. According to Bloomberg , the nation’s demotivated employees are costing £257 billion in lost productivity.
Additionally, Gallup 's latest research found that a staggering 90% of UK employees are feeling disengaged from their work. These figures compare to 33% engagement levels for the US and 23% globally.
The research paints a stark picture of employee satisfaction and overall health of UK employees, with 40% reporting daily stress in their jobs. Additionally, 27% reported feeling daily sadness and 20% feeling daily anger while at work, making this figure the second highest across all European countries.
What others are saying about it
In the short term, quiet quitting causes lower productivity, decreases employee satisfaction and has a negative impact on culture. In the long term, it can impact turnover as these employees are unlikely to stick around:
"When people feel they're not in an inspiring job, and see opportunities elsewhere, they'll likely look to get their career needs met with another employer,"
Jim Harter , Chief Scientist for Workplace Management and Wellbeing at Gallup , told the BBC News .
"You likely know the proportion of people in your workplace who are quietly quitting – it’s a feeling and it’s infectious. But what can be done about it? The answer is simple, really: your best managers are already doing it. You need to cater to the fundamental workplace needs of your employees,”
What that means for you
The role that middle managers can play here is crucial. Fortune points to equally worrying data showing that only 30% of managers say they are engaged at work. As leaders are often regarded as multipliers of culture within your organization, fixing this should be at the top of your list.
In organizations that follow best practices for employee engagement, more than 75% of managers are engaged at work, along with 70% of non-managers. To combat the cost of quiet quitting, focus on engaging your managers with the following steps:
What else should I read?
That's all for this week's edition of Personio Pulse: This Week in HR. Check back next week as we continue to dissect the latest trends impacting the ways we work.
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Head of Sales | Linkedin Top Voice | B2B Mentor🤝 Start Up | HR Tech ❤️ lover | Rugby 🏉 fan |
4moWe give new names to phenomena or events that have been with us for decades. Maybe that helps us to look at it with a new perspective and/or give it a solution. This phenomenon is related to incentives, in those workplaces with fewer people, more can be produced, e.g. secured jobs. In the end human beings want to be loved and appreciated, something simple and straightforward that we can all do. Why does it not happen in many organisations? ??? 🧐. Perhaps because COVID has accelerated many dynamics that were already there, and now "explode". The difference is that previously in many industries getting candidates was "simple", perhaps now it is more complicated, which implies that companies want to "retain their employees" and develop strategies to do so. However, without a policy designed from and for the 👨💻👷♀️employee, they are not going to work. And trips to exotic places or salary increases, sooner or later, stop motivating.
👩🏻🏫 Lecturer 👥 Human Resources | People | Culture | Organization 🦩 HRC Member (check out CEO Linh Grethe)
4moEveryone in a leading position should really think about these costs of quiet quitting and help their employees to get and find their fundamental needs at work. I am deeply shocked by the amount of people who feel sadness or anger at work - this is way too much to be honest and can actually be solved with a few talks with your employees to show your appreciation towards them.