How to Retain Employees Amid the Great Resignation

July 14, 2022
By Built In NYC
Thought leadership
Woman leaving the office with a box of her belongings to symbolize how not to retain employees

Between January 2021 and February 2022, 57 million people quit their jobs, according to the Bureau of Labor Statistics. In May alone, 4.3 million people quit, a number that has been unchanged for months. 

And it’s not over yet. A 2022 survey by PricewaterhouseCoopers found one in five employees plan to switch jobs in the coming year.

People’s reasons for quitting are varied. Pew Research found they include low pay, not enough flexibility, lack of opportunities for advancement and career development, and less than optimal benefits. A Gloat survey found that 43 percent of workers are burned out and 54 percent feel their employers don’t value their aspirations or interests.

Now, they’re seeking workplaces where they can be their authentic selves, maintain work-life balance and grow professionally. And they want a job where their work aligns with their values and passions.

The Great Resignation poses an opportunity for companies to improve at engaging and retaining their employees, which will help attract new talent, too. Employers like Northwestern Mutual, Laika and Healthee are listening to what their current — and former workforce — wants and strengthening their engagement efforts. Built In NYC sat down with them to find out how.

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