As an HR manager, you handle the brunt of the impact when employees quit or come on board. Handling the devastating effects of COVID-19 may have placed a lot of strain on your entire department throughout the pandemic. Now that businesses are opening back up, coaxing people to come to the office has proven problematic for most companies.
Thus, the Great Resignation of 2021. What exactly is the Great Resignation, why is it happening, and what can HR and managers do to retain staff? Letting your employees know you care about them goes a long way in building goodwill, and that includes a proactive verification of employment or income policy. Such actions could pay great dividends when it comes to your retention efforts.
Stats Surrounding the Great Resignation
Social media is abuzz with calls for employees to quit their jobs and find work that allows them to earn a living remotely. According to The Wall Street Journal, businesses are facing significant struggles when it comes to convincing workers to come back to the office.
Monster reported that nearly all employees interviewed said they would consider going to a different job that offered more opportunities for work-life balance. Homeschooling kids while working from home hasn’t dissuaded the country’s labor market to return to the daily grind. While the 2020 pandemic brought on the most severe economic contraction in U.S. history, a high percentage of Americans remain out of work. However, businesses report an inability to fill open job positions. With up to 26% of workers ready to find more flexible work, HR executives may be wondering how to reverse the trend.
Why is this happening? There’s more than one right answer.
- Americans have tasted the freedom of working from home and want to continue enjoying a flexible schedule.
- Companies have announced plans to reopen offices and bring employees back to normal work schedules. However, many employees aren’t willing to do that and plan to (or already have) quit their jobs because of it.
- With job openings at peak levels, candidates can often find more lucrative opportunities than their current employment.
Trust and Transparency May Hold the Key
There are numerous ways HR executives can make it more attractive for employees to stay at their current jobs. It all starts with transparent communication about plans to return everyone to the office. Give employees ample opportunity to prepare themselves for the mental shift of working away from home. Possibly consider a hybrid model. These methods can make the transition less stressful and possibly reduce turnover rates.
You can also build trust and transparency by offering incentives that help employees feel appreciated. Note that other organizations often offer higher salaries to poach your best employees. Therefore, you might want to invite employees to have an open discussion with your department or their managers regarding potential salary inequities.
Additional PTO days, training opportunities and a promotion from within policy can also boost morale and give employees a reason to stay. Solicit and document the reason your people migrate to other organizations. For example, do you give your employees enough opportunities for career growth? What is your company culture like – could employees use more flexibility and autonomy?
The Great Resignation Trend and Verification of Employment
There are also soft benefits that add value and spark employee loyalty. Remember to look at your employees with humanity. For instance, does your HR team respond quickly and courteously to requests for verification of employment or income?
Verification of employment or income requests come in because of a major life decision as it is happening in an employee’s life. When someone is buying a new home or car, they want to roll through the paperwork quickly and move in or drive home with their approved purchase. So, if you sit on verification of employment requests, this could negatively impact how your employees view the company.
Encourage managers to maintain a friendly personal relationship with each member of their team. By asking how other parts of their lives are going, supervisors can help create a culture of caring and commitment.
Include fast, smooth verifications in your strategy to avoid a great resignation event at your company.
Does Verification Responsiveness Really Matter?
Traditional wisdom states that employment verifications don’t directly impact the bottom line. Therefore, they remain a low priority. Unfortunately, this is a wasted opportunity to build a better relationship with the team member requesting one.
HR protects the rights of individual employees. So, why should support stop at the office door, especially when many employees are still working from home? Creating an employee-centric culture injects humanity back into the workplace and can make it a far more desirable destination than it was before the pandemic.
Processing verification requests quickly shows your employees that you care about the big picture of their lives. By making it easier for them to get a new home or complete another large purchase, you can leave a positive impression on your team members.
Why Is Verification of Employment Important When an Employee Resigns?
Word spreads quickly. Just because someone leaves the company doesn’t mean they lose touch with their previous coworkers. If you botch the resigned employee’s verification of employment request, former employees might assume that you were trying to sabotage their new opportunity.
If possible, find out where they’re going. Some employees leave because they find side hustles that allow them to work from home. Others find jobs at competing companies that offer flexible work opportunities.
With the Great Resignation already ongoing, HR teams may see a huge pickup in requests for employment or income verification. Employees need this to start a new job, apply for assistance and prove their salary.
Former employees need as much support as active employees during this verification of employment and income process. Working with a verification partner enables employers to document thorough exit procedures that make it easier for a separated employee to obtain what they need much quicker after their employment ends. Whether they are in the market for a new job or making a large transaction, this exit documentation helps guide them and their verifier on where to go and what to do. Some companies change the language in the necessary forms from “Dear Team Member” to “Dear Former Team Member” and include verification of employment documentation in an employee’s exit packet when they leave the company.
Treating former employees with care and recognizing this is a stage in their life allows the door to return to remain open.
Choose the Right Verifications Partner and Platform
Now, you have a choice – to ensure excellent turnaround on verification requests, you can either use more resources within your own HR department on a process that doesn’t directly impact the bottom line. Or, you can outsource your verifications to a qualified and competent provider at minimal or no cost to the company.
Finding a flexible vendor that can handle your verification of employment and income processes can improve your employee turnover rates. With the right partner, you can route verification requests to the provider and claim credit for the fast, smooth results.
Find a vendor that focuses on customer service and provides a number of services that support employers making the transition back to the office. A robust, user-friendly verification of employment and income system should be part of that offering – one that is customizable to the unique needs of your company and HR department.
The Great Resignation is already upon us. Showing your employees that you care about them beyond their cubicle is incredibly important to ensure they don’t decide to join the masses and resign. Treating them like humans and recognizing that their lives beyond the office matter to you will help reduce churn, and fast, smooth verifications of employment and income is a crucial part of that. Whether you do it yourself or outsource to a qualified vendor, take a hard look at your current verification request process and be honest with yourself – can it use improvement?
Find out more about the benefits of a proactive verification of employment and income platform.