How Startups Can Retain Talent & Navigate The Great Resignation

Over a year has passed since the ‘Great Resignation.’ The event triggered a global transformation of work and workplaces, with remote work becoming the norm. The social contract between employer and employee has drastically changed.  To address a digitally distributed workforce, employers developed fluid hierarchical and organisational structures. 

The main challenge at work was to find a way to integrate human, physical, and digital elements harmoniously. Furthermore, the emphasis was on leveraging technology to continuously improve employee experience, strengthen digital competencies, and increase business agility.

From the perspective of an employee, the pandemic and subsequent burnout led to the realisation that health is wealth. Against this backdrop, the Employee Value Proposition (EVP) emerged. The ability to design your own work environment, career path clarity, mentoring, and the opportunity to upskill became the cornerstones of this newly structured EVP. As a result, the distinction between an office and a “home” self is blurred.

As we settle into a new reality for future workplaces, one key puzzle remains unsolved — adapting leadership methods to remote working environments. Employee well-being is dependent on effective leadership. The adage “people don’t leave jobs; managers leave” is still true.  As a result, future workplace leaders will need to take a human-centred approach to people management, with a focus on key parameters such as:

Listening Culture

Leaders of today must recognise that the employer-employee relationship is a two-way street. For an employee, a workplace is more than a source of livelihood. It is a source of meaning or purpose. They see themselves as equal participants in the workplace’s development.  

As a result, leadership after the great resignation is about establishing a listening culture. When making organisational decisions, leaders should consider employee feedback. Leadership’s goal should be to ensure complete transparency and accountability to their employees, with their well-being at the forefront of workplace policies.

Mentorship & Coaching

The old top-down hierarchy approach or command and control style no longer works in the current context of virtual workplaces. Leaders must adopt a humble and collaborative approach. The two critical skills for leaders will be coaching and mentoring. 

Employees want clarity in terms of career advancement. They want a clear path in terms of their role. They also want the chance to improve their skills. Leaders should strive to empower their employees in order to improve their working conditions.

Honest Communication

Communication has been a source of frustration in remote workplaces. In a remote scenario, the challenge has been to establish a transparent, honest line of communication between leaders and their team members. Leadership in these situations will entail being accessible to employees, regardless of the communication platform.  

The goal must be to develop adaptable communication protocols that give employees privacy and trust when they express themselves. A leader must be able to determine when communication should take place in a private space and which platform is appropriate based on the context of the communication.

In a nutshell, leaders in a time of great resignation must be open and honest about their flaws. Numerous studies have found that people identify with and trust a leader who is open about admitting problems and promoting a psychologically safe workplace.  As a result, open communication between leaders and their teams will form the foundation of a progressive workplace.

New Approach To Productivity

The current notion that productivity equals hours worked is out of date.  As a result, leaders should focus on instilling in their employees a mindset that allows them to work from anywhere, at any time, and on any platform, it’s all about deliverables, not hours put in. 

Leadership in this era will be about empowering employees to design their ideal work environment. A condescending and micromanaging leadership style is a barrier to creating productive workplaces. The main productivity theme for leaders will be placing trust in and taking a customised, contextual approach to their team members.

Companies value resilience over efficiency and productivity in the post-pandemic world. Leaders must increasingly focus on processes that are not only efficient but also able to withstand the rigours of volatile change and disruption.

As a result, the new currency of the workplace is the quality of relationships with colleagues and the hierarchy, mentoring and coaching, as well as transparency. Upholding these values will be central to leadership in the digital age. As the balance of power shifts from the employer to the employee under the ear of great resignation, strong leadership will be critical in attracting and retaining top talent.