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The Great Resignation: Is Investing in Workplace Wellbeing the Answer?
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According to a recent Alan study, 44% of French employees are currently considering quitting their job, and 18% plan to act on that within the coming months. This phenomenon is directly tied to the way our relationship with work has evolved — and it's far from new.
In 2021, nearly 50 million Americans left their jobs. Known as the "Great Resignation", this movement is increasingly affecting European countries too. In France, around 520,000 resignations per quarter were recorded in late 2021 and early 2022 — a record since the 2008 financial crisis.
If companies want to continue attracting and retaining talent, investing in employee wellbeing must become a priority. There's no doubt: a happy, engaged employee is far more likely to stay than one who is dissatisfied with their role or working conditions.
What are the key issues emerging from the Great Resignation? What new expectations does it highlight? And which workplace wellbeing levers should you prioritise to counter this trend? Here's what you need to know.
What Drives the Great Resignation?
In the wake of the Covid-19 crisis, many workers began to question the meaning of their work and the quality of their working conditions.
Stress, lack of recognition and poor management communication, excessive workloads, insufficient pay, poor work-life balance, difficulty seeing a future in their role… These are the reasons that led nearly half a million French employees to resign from permanent contracts in early 2022.
Those under 35 are most affected, suffering the most from psychological distress and uncertainty about their futures. According to Alan's 2022 barometer, 57% of them struggle to picture their future, and 86% say they feel stressed at work!
Read also: HR: 5 trends to watch in 2023, according to Gartner
Beyond the uncertainty amplified by the pandemic, it is also the frustrations that have built up among employees that help explain the Great Resignation. Among those planning to leave, 81% report difficulties in their current role, and 77% would like to find a job that better aligns with their personal values.¹
Finally, let's not overlook the law of supply and demand: the tighter the job market, the stronger the bargaining position of employees. If they resign, it becomes easier to find a new job quickly and negotiate better pay and conditions.
Which Levers Can Help Attract and Retain Talent?
While the Great Resignation hasn't hit France as hard as the United States, the new expectations it raises still deserve serious attention. These expectations centre primarily on initiatives that support employees' physical and mental wellbeing.
To improve workplace wellbeing, organisations can act on several levers — compensation, working conditions, meaningful work, management, and training. This will also help attract and retain more talent.
Read also: [Bodet Software Study 2022] Which levers can improve post-Covid employee engagement?
Here is an overview of the key workplace wellbeing levers and the initiatives you can put in place to counter the Great Resignation in your organisation.
1. Meaningful Work
Nearly 2 in 3 employees are now willing to earn a little less in exchange for more meaningful work¹. This suggests that a sense of purpose is a key driver of workplace wellbeing.
To respond to this need for meaning, companies can:
- communicate about their culture and values,
- develop a CSR policy (Corporate Social Responsibility) aligned with those values,
- put the spotlight on projects from across the business, for example through posts on your enterprise social network,
- regularly survey employees about their roles, working arrangements and management practices, as well as the overall workplace climate,
- and involve them in the initiatives they want to drive forward.
2. Compensation and Working Conditions
While some employees are prepared to trade a portion of their salary for more meaningful work, that's far from universal. Proof: 53% of employees say they face challenges related to their pay level¹.
Paying employees what they're worth is therefore a cornerstone of workplace wellbeing — and, by extension, helps attract and retain talent.
Beyond pay, working conditions also deserve attention. To improve them, you can look at:
- workspace design and quality,
- the equipment and collaborative tools provided to employees,
- the working atmosphere,
- and working pace.
Looking for a tool to improve communication and collaboration across your teams? We've got the answer: Talkspirit. 100% Made in France, our platform includes everything you need to share information with your employees and streamline their exchanges — including chat, video conferencing, a news feed, a home page, a project management module, a library, a drive, and more. Try it and you'll love it.
3. Flexibility
The flexibility factor is also a key component of workplace wellbeing. For Caroline del Torchio, Co-founder and CEO of Mensana & Sana Project, the evidence is clear: "companies will only retain their employees if they promote a flexible work model. Case in point: an employee is willing to give up 8 percentage points of salary to join an organisation that supports remote work."
Practised today by 56% of employees, hybrid work remains highly popular², as it provides greater flexibility and contributes to a better work-life balance. If you haven't adopted it yet, now is the time to consider it.
end HubSpot Call-to-Action Code Several other measures can also contribute to greater flexibility, such as flexible working hours, a four-day week, or flexible leave policies.
4. Management
Management practices must also evolve to meet employees' new expectations. According to Alan's study, 6 in 10 employees feel a need to talk with their manager about their professional future — a topic that is often neglected, as many managers are not sufficiently trained or supported in their role.
As the face of the company, managers must simultaneously coach, motivate, engage and build connections among their team members — a role that can be difficult to fulfil alongside other strategic (and sometimes operational) responsibilities.
There's no getting around it: continuous management training is essential — both to help managers develop soft skills (such as active listening, communication and emotional intelligence), and to help them adopt the right management posture.
Read also: Hybrid work: management best practices
5. Skills Development
Of course, training shouldn't be limited to managers. Employees also need to be able to develop their skills, and receive support in doing so — a conversation that can be initiated by both management and HR.
"A company that retains its employees is one that helps them plan ahead, develop and build their employability in a sustainable way." Caroline del Torchio, Co-founder and CEO of Mensana & Sana Project
If you want to retain your employees, take the time to train them and discuss their career development — it will make them both happier and more effective.
6. Aligning Words with Actions
Finally — and most importantly — "it is essential to align what you say with what employees actually experience", adds Caroline del Torchio. In practical terms, your actions must match the values and culture you promote, to avoid disappointing the very people you're trying to engage.
"A few years ago, a travel agency launched a recruitment campaign on the Paris metro, with posters showing an idyllic setting. Applications spiked almost immediately. However, the campaign didn't have the desired long-term effect — six months later, the company recorded a spike in turnover. Why? Because working at that company is not the same as going on holiday there !" Caroline del Torchio, Co-founder and CEO of Mensana & Sana Project
Make sure your messaging and your initiatives are well aligned, to assure a employee experience that is consistent, and without unpleasant surprises.
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While the Great Resignation may be less acute in France than in the United States, it nevertheless highlights the importance of investing in workplace wellbeing. Often deprioritised, quality-of-work-life (QWL) initiatives nonetheless play a key role in attracting and retaining talent — and they cost far less than a resignation, estimated at 1.5 to 2 times an employee's annual salary³.
In addition to reducing turnover costs, investing in workplace wellbeing will help you boost engagement and performance, and limit the effects of the Great Resignation. Many companies with strong QWL policies have seen this first-hand. Download the practical guide below to discover 10 inspiring examples 👇
Access the Practical Guide
In our practical guide "10 Examples of Initiatives to Improve Workplace Wellbeing", you'll find: 10 examples of QWL initiatives implemented by French and international companies, along with advice, best practices and tools to help you succeed in your approach.
¹ Alan 2022 barometer on the quest for meaning
² My Happy Job 2022 Study
³ HuffPost article
