The COVID-19 pandemic initiated hiring freezes and new employment trends. Lockdown prompted many employees to reconsider how they wanted to earn money and spend their time. With the vast number of resignations during the pandemic, human resources managers need new strategies to attract and retain the necessary talent for their companies to succeed. Since many fields are experiencing employee shortages, human resources managers are allowing more hybrid and work-from-home opportunities, but many people are quitting their jobs for other reasons.
Lack of emotional support, rising workloads, burnout and disengagement are a few reasons people leave their jobs and look for other options. How a business responds to employee demands and the increased number of resignations can influence new employee retention.
An online Master of Business Administration (MBA) with a Concentration in Human Resources Management from the University of Northern Colorado (UNCO) can prepare graduates to handle employment retention challenges by mastering the art of productivity and motivation. This online MBA program can make graduates indispensable human resources leaders with essential knowledge crucial to workplace success.
What Has Changed in the Field of Human Resources?
As employers are adjusting to the Great Resignation, there are a number of lessons they can learn from this experience. Changes to the work experience during the pandemic made employees look hard at what they wanted. Many decided they didn’t want to stay in a job they no longer liked. Low pay, lack of respect and flexible hours, minimal opportunities for advancement and lack of childcare options are all reasons why many people have left their jobs in search of new opportunities since the pandemic.
Since high turnover rates can cost businesses money, lower productivity and disrupt workflow, employers must find ways to retain employees. Below are some measures a company can take to avoid resignations and foster employee commitment:
Develop a flexible work environment. Allowing employees to work from home and have flexible working hours can increase productivity and create a lower-stress work environment. The pandemic helped people realize the importance of work-life balance, and they’re demanding increased flexibility.
Create opportunities for career advancement. Offering clear routes for career advancement is something an employer should be able provide for their employees. When employees know exactly what is necessary for promotion, they are less likely to look for advancement opportunities at another company. Employees remain more satisfied when human resources managers listen to their needs.
Invest in the company brand. A recent study showed that 46% of college graduates refer to social media, such as TikTok or YouTube, for job-hunting advice. Therefore, having a strong social media brand can attract job candidates who are a good fit for the company.
Raise salaries. As employee expectations continue to rise, so does inflation. As a result, companies can vie for qualified and talented employees by offering higher wages than the competition. Financial benefits also include bonuses, health insurance, paid time off and compensation for extra work.
Foster emotional well-being. High anxiety, stress and other mental health issues can affect an employee’s productivity and well-being. Providing mental health care, scheduling realistic deadlines and having flexible work hours can encourage employees to be focused and productive.
Next Steps
In this online human resources management MBA, students will take classes such as Talent Management and Compensation, Rewards and Performance Management to prepare for designing a company’s management system with a focus on attracting and retaining talent. By studying team dynamics, conflict and culture, motivation and leadership, graduates will be equipped with a competitive advantage.
Learn more about the University of Northern Colorado’s online Master of Business Administration with a Concentration in Human Resources Management program.
