How to Retain Employees During the Great Resignation

Over 40 million workers quit their jobs in 2021 alone, with a staggering 4.2 million resignations just through the month of October. These figures created turbulence within the U.S. economy, and businesses across the nation are now asking themselves, “How can I retain employees during The Great Resignation?”

Challenges Brought by the Great Resignation

The labor scarcity brought challenges for both Fortune 500 companies and local businesses alike. Here are some of the most common problems The Great Resignation is causing:

Employee Retention

Not only are companies struggling to retain their current employees, they’re also having trouble finding new ones to replace those who have already left. With a worker shortage, talent pools are becoming tapped, and finding qualified employees is harder than it’s been in recent memory. This makes the current job market an “employee’s market,” where it’s easy for people to find a job and set their own terms because fewer applicants are looking for open positions.

Missed Profit Targets

Without employees to do the work, daily tasks either get done later than expected—or worse—not at all. Your business can’t grow if you’re having trouble handling the current workload, which causes your revenue and profits to decline. To make matters worse, when employees leave, they also take a plethora of industry knowledge with them. It takes a significant amount of resources to find, hire, and train new employees to fill their role, and even more time for your new employees to know your business well enough to work efficiently.

Higher Wages

Because we’re in an employee’s market, salaries and benefits are on the rise. This trend is further perpetrated by established enterprises, as they have no problem offering more pay, which is driving up salaries and creating a small applicant pool for businesses that don’t have the capital to attract new talent.

Tips to Retaining Employees During the Great Resignation

Here are some strategies to avoid the negative impacts of The Great Resignation:

Invest in Retention

Having a people-first strategy is one of the best ways to ensure your workforce feels respected, valued, and appreciated. If you’re looking to respond to employee resignation, transforming retention efforts is one of the first places to begin. The following activities are all highly effective ways to help your current employees feel valued at their jobs:

  • Competitive Salaries and Benefits: Be sure to review your salary structure, bonus programs, and employee benefits to see where you have room to make improvements.
  • Good Company Culture: To cultivate a positive culture, it’s essential to have clearly defined values carried out by company leaders. Make sure the qualities of your organizational culture align with what your employees want to see.
  • Employee Engagement: Low engagement is a terrible sign when it comes to retention. If you’re struggling to retain employees during the great recession—don’t worry—there’s still time to improve employee engagement through flexibility and work-life balance.

Prioritize Flexibility and Work-Life Balance

The COVID-19 pandemic introduced the widespread implementation of remote work. Yes, most employees love working from home, but that’s only part of the equation. Do you know what employees want even more? The autonomy to decide where and how to work.

As companies navigate how to retain employees during The Great Resignation, there’s a growing consensus that work isn’t a “one-size-fits-all” process. Not everyone is productive under the same conditions, which is why many companies are becoming flexible workplaces, offering work arrangements that prioritize work-life balance, such as:

  • Options for 100% remote work
  • Hybrid work setups
  • Flexible schedules
  • Shorter work weeks
  • Flexible or unlimited PTO

Companies that resist this trend risk losing their top talents to other businesses who prioritize flexible work arrangements.

How Can Business Process Outsourcing Help Combat the Great Resignation?

If you’re struggling to retain call center employees, don’t worry, business process outsourcing (BPO) can help. At GGA, our BPO solutions deliver several competitive advantages, including:

Access to Qualified Staff

Outsourcing back office functions means having access to a complete team of professionals with the skills needed to help supplement your workload. At GGA, our helpful representatives alleviate the hassle of recruiting and training, assuring you have access to a pool of highly skilled and capable employees.

Lower Labor Costs

If you’re looking to combat The Great Resignation, hiring, paying, and training new team members can add up quickly. But what if there was a better way?

With GGA’s on-demand support, there is. We perform BPO functions at a significantly lower cost when compared to US-based employees. Some of the easiest areas for saving include:

  • Lead generation
  • Technology support
  • Customer service
  • Insurance support
  • Billing services

GGA assembles your entire team for a fraction of the cost compared to domestic workers. On average, our solutions are 40% cheaper than an internal crew.

Streamlined Business Processes

GGA is your full-service BPO solution. Our business process outsourcing services operate 24 hours a day, seven days a week, 365 days a year. Around-the-clock capabilities allow us to service multiple locations, meaning geographic hurdles aren’t an issue for GGA. We also have representatives who are fluent in several languages, including:

  • English
  • Spanish
  • Mandarin Chinese
  • Portuguese

Our ability to effectively communicate with any region during all hours of the day helps expand your global reach, and more importantly, streamline your daily business processes.

GGA Solutions: Your Top Choice For High-Quality BPO Services

Looking to leverage the advantages of BPO to respond to employee resignation? Make the right choice and partner with your neighbors at GGA Solutions. Schedule a free consultation to discover how we can help.