Cititec Director James Hamilton-Reed comments on The Great Resignation
The below covers collaboration and engagement tools to help retain talent and boost employee moral.
COVID saw the creation of a pandemic that nobody anticipated and brought along numerous changes to daily life; however, none was as significant as the shift in the workforce.
“The Great Resignation” saw burnt-out employees leaving their positions in pursuit of better work-life balance, deeper purpose and stronger connections. The UK. had 950,000 employees resign in October 2021, more than any other month in the last seven years, while organisations were still working to onboard new remote technologies and virtual business models that engaged Talent.
While quick decisions were critical to ensure companies could stay afloat throughout the pandemic, CEOs and HR personnel are now focusing on retaining talent and boosting their happiness.
Okta’s 8th annual Businesses at Work report showcases the tools organisations are now using to communicate, boost output, Talent engagement, and web security. The analysis came from over 14,000 data points: FedEx, Spotify, Lyft and others, and provides insights into the fast-growing tools HR teams and organisations are adopting to help manage change.
James comments, “for me, one of the key takeaways from the report is the use of employee engagement and collaboration apps; they have seen a 28% year-over-year growth due to the increase in virtual workspaces and remote work. Where that figure becomes even more impressive is the fact they have been almost entirely absent from the fastest-growing list for years.
Other high-growth tech companies included: Lattice, the people management platform that grew 109% and was ranked 6th overall, the employee experience platform Culture Amp grew 75%. Not to be outshone, collaboration products also experienced upshots such as Miro with 301% year-over-year growth; Figma with 236% growth; and Monday.com with 149% year-over-year growth.
As the need for a remote workforce continues and the focus on retaining talent grows, businesses need the correct collaboration and engagement tools to help employees thrive, mainly through building and maintaining culture and experience from afar. A recent poll completed by Gallup showed that businesses that focus on culture achieve 19% more sales, up to 29% higher profit, and a 72% lower attrition rate. For me, It’s clear that when HR provides employees with the tools to engage, a more robust workforce and, ultimately, a more successful company is the result.
Lastly, as companies continue to navigate The Great Resignation and strive to retain talent, HR professionals must continue to find solutions for employees both in-office and remote to work efficiently and stay connected. Employees are companies’ most important assets, and it’s imperative that they not only have equitable access to information and leadership but that they’re also able to collaborate and engage with one another. As per the figures above, this will help drive a productive and supportive culture.