It’s not the “Great Resignation” rather the “Great VALUATION” employers should concern themselves with”
Employers around the world are in dire straits trying to solve for what has been called the “Great Resignation” when what we really should be looking to solve for is the “Great Valuation” (yes, I made that up…. It’s what I do).
Do you recall at the beginning of the pandemic in an attempt to grab ahold of its widespread impacts how we classified people in two categories “essential” and “non-essential”?
What this subconsciously communicated to workers all around the world was their work, and its value, could be summarized as “essential” and “non-essential.” Now in employers defense, this wasn’t any single company’s doing and more so a governmental classification. However, companies are still reeling from the implications. As a response, employees all around the world are now trying to figure out “how do I self-preserve?” and “if my employer can’t do this for me how do I do it for myself?”
I believe this single handed has perpetuated the “Gig Economy.” Employees all over the world are now looking for ways to ensure they aren’t at the mercy of single-source incomes (i.e. one job), instead they are up skilling and adding value to themselves at an alarming rate, and in return, selling their time back to companies at a “VALUE” per hour rate (Yes, I made that up too) via contracting.
Employers’ current response to this?
· I can’t find workers…
· No one wants to work…
· That’s not what we’re looking to pay for this position… (aka “HOW DARE YOU KNOW YOUR VALUE?!?!”)
Instead, employers MUST pivot their thinking if they want to be successful during this period of the “Great Resignation.”
While there is still so much to discover about these new ways to work in this new era we’ve entered, here are just a few ways employers should be thinking about tackling the “Great Valuation”
1. Finding employees who actually want to be “employees” – Not all employees are itching to be a “contractor” where they have to figure out taxes, their own systems, etc.
2. Put together clear career paths in place for employees – Spell out how your company has a plan for employees to advance their careers, their income, and skillsets.
3. Use CONTRACTORS that want to work in a niche capacity – Adding contractors to your business model not only allows for flexible staffing but can also help meet some of your DEI initiatives (especially if you aren’t already meeting them internally).
4. Have clear ways contractors can engage with your business – This isn’t rocket science and the good ol’ boy system shouldn’t exist anymore. Be clear on how contractors can engage with your business. Be clear on what makes potential contractors qualified and what doesn’t. Most of all, be sure to be fair!
Are you looking for ways to expand your workforce? Meet your DE&I goals? Hire more Women in tech? Reach out we’d love to chat with you.