5 Challenges Facing Business in 2022

The Great Resignation

Starting late 2021, this is a challenge facing all organisations, yes all – even SBAAS (Small Business Assistance and Advisory Service) are taking preventative actions.

Recent research has indicated that over 40% of Australians are actively looking for a new role. Furthermore, about a third of those who have resigned, did so without a replacement position to go to.

So why are people resigning? Many state that there is ‘no one size fits all’ to this answer, but we tend to disagree.

There is an extraordinarily strong trend across almost all the responses … Culture.
People want to:

  • Work for a company with a compelling purpose, where their values align to those of the company,
  • Work for a company where the Environmental and Social strategies reflect their own values and whose Governance protocols reflect an organisation that means what they say (your ESG Policies),
  • Be in an organisation that they trust and respect, that they feel cares about them and knows them as a person,
  • Be appreciated, feel a sense of belonging, and they have a voice that is listened to,
  • Have the opportunity to learn, develop, and grow in their career and personally,
  • Spend their days working towards something that means something to them, and
  • Know what success is and how it is being measured, and in some instance by whom.

Looks like seven different things, but it all comes down to leadership and culture. The adage that ‘people don’t leave a job, they leave a boss’ still rings true in these responses.

Think about it, as an example, a large multinational organisation spends millions telling you they care in their advertising, but the person you dealt with was disinterested and discourteous, so you left.

No different to having leaders who don’t show support, don’t listen, don’t provide opportunity, or don’t seem to align with the written values of the organisation.

Our experience with any organisation comes right down to the personal relationships formed, or not, within that organisation.

We have seen organisations where there was just one person who did not sit with the culture and values extolled.

Initially, everyone thought, ‘they do a reasonable job and it’s only one person.’ However, this person caused up to a dozen people to leave because of most of the things outlined above.

The challenge of The Great Resignation emphasises the critical role of culture and leadership in retaining talent.

Organisations must prioritise cultivating a supportive environment where employees’ values align with the company’s mission and practices.

This alignment fosters trust, respect, and a sense of community, encouraging employees to stay and grow with the company.

Leaders must actively listen and respond to their team’s needs, demonstrating that they value and understand their employees.

By doing so, businesses can mitigate the risks of The Great Resignation and build a resilient, committed workforce.

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