Retaining talent during ‘The Great Resignation’ through technology
You might have heard the media-coined term ‘The Great Resignation’; beginning in early 2021 this describes an economic trend in which employees, in significant numbers, have voluntarily resigned from their jobs. By the end of 2021 it was thought that almost one in four UK workers were planning an imminent job change.
This poses a large problem for businesses and employers. The risk of losing talent, dealing with workplace unsettlement and the disruption of large-scale recruitment can have significant impact on efficiency and growth. As a result, business leaders are looking for solutions that will help their companies beat The Great Resignation, and technology stands out in front.
Whether technology can bring in automation, make information easier to find and analyse or simply put people data first, the power it brings can not only increase business efficiency but increase employee satisfaction. Below, we look at just 3 of the solutions technology can provide for beating The Great Resignation.
As with every job role, certain tasks and responsibilities are not as enjoyable as others. These are often those that require lots of manual, repetitive and mundane actions, where employees aren’t necessarily using their ‘brain power’. Automation provides an opportunity to elevate employee’s roles and minimise the low-value tasks that often leads to dissatisfaction.
If we look at accounting tasks as an example, particularly at month-close, there has historically been a lot of manual ticking, tying and reconciliation. This can often lead accountants to burn-out and boredom and without the right technology in place, looking for jobs elsewhere. Thankfully there are now solutions to rectify this, and the world’s leading is FloQast. FloQast enables accountants to work smarter, not harder and by integrating workflow automation it can not only reduce days to close by 30-40% but improve team collaboration and increase job satisfaction.
There might have once been a fear of automation amongst teams, but today employees are openly accepting technology solutions that cuts out the repetitive and gives more time to do aspects of the role they enjoy. Business leaders need to get ahead of the curve and integrate winning automation solutions to retain talent and beat The Great Resignation whilst increasing efficiency and accuracy of the work.
Business Intelligent Software
Software is increasingly built with higher levels of business intelligence. Technology now has the capability to unify and integrate core business processes, encompassing information from across an organisation and giving users access to truthful, real-time data. For employees, and particularly decision makers, having access to data in a user friendly and digestible way can make a big difference to the work they do and the satisfaction they gain. These individuals are likely to be the hardest to replace, so retaining them in a business is highly important.
A business management suite such as NetSuite can provide a singular solution for every company size, across every industry, in every part of the world. Its innovative technology is built on the cloud, which lets you run applications from anywhere, on any device. This functionality has been ever more important since the Covid-19 pandemic and the adoption of remote working. NetSuite gives your employees the flexibility to work from home/office/abroad, giving freedom and enhancing accuracy and reliability.
NetSuite enables businesses to grow and increase operational efficiency whilst simultaneously adding functional benefits for its user base to keep them happy and retained in the business.
HR & People Solutions
When looking at ways to beat The Great Resignation attention should be drawn to people data and Human Resources (HR). HR teams are often at the centre of monitoring employee engagement, satisfaction and happiness. They are an essential component of any business, regardless of an organisation’s size. Businesses need to have in place technology that supports these teams in order to maintain employee engagement and keep hold of precious staff.
SuitePeople is an example of a business solution that provides a more engaging, insightful way to manage people. People are what make up the core of a business and their personal information, records, success and growth should be visible and accessible. Having analytics, compliance and core HR capabilities all in one single suite is invaluable in HR.
SuitePeople empowers managers and HR professionals to streamline employee information, performance management, promotions and compensation which will ultimately help keep employees from looking at roles elsewhere.