Running a company is hard. But it’s not just the business you have to handle, employee satisfaction also matters a lot. The employee giving program can help you with this aspect.
The typical American professional is suffering from the effects of work-related stress. As a result, "The Great Resignation" has affected a lot of workers. Employees quitting their employment at higher rates are, in essence, the movement behind The Great Resignation. Employers are now rushing to fill positions as soon as possible. As a result, there is a mental health crisis brought on by the Great Resignation.
People are quitting their jobs to take a break from their professions for a number of reasons, two of which are a poor work-life balance and a lack of "empathy" from employers. People no longer feel the need to stay loyal to organizations that don't respect them as unique individuals. They no longer value holding down a thankless job that pays unbelievably little and offers few to no health benefits while expecting them to prioritize their loyalty to the interests of the corporation above their own.
According to the findings of a recent survey, 50% of Millennials and 75% of Gen-Zers quit their jobs owing to problems with their mental health. Burnout, anxiety, sadness, and thoughts of suicide have been rising alarmingly in recent years among Millennials and Gen-Zers, according to a survey by Mind Share Partners, Qualtrics, and SAP. Although this study primarily focuses on these two generations, mental health problems aren’t limited to only this demography.
It's not unexpected that Millennials and Gen-Zers are having a lot of trouble with mental health issues. They must pay back thousands of dollars in student loan debt, which will be challenging given the glut of similarly positioned college grads in the labor market. This is a difficulty for people who chose to major in fields that don't lead to careers with decent compensation after graduation. It becomes financially difficult to get married, buy a home, and have children when one is in debt.
With large amounts of layoffs coupled with the alarming rates of resignations, those who stayed put at their jobs essentially didn't find more gains than those who chose to leave and take a break. Instead, this has weighed on them more and now we are confronted by a burnt-out workforce, looking for ways and an outlet to cope with their stress.
The realization and after-effects of overworking have resulted in one go-to solution - resigning from their jobs to focus on their mental health. At any age, individuals who are seeking employment frequently do so because they are unsatisfied with their existing position. Job seekers worry about the long hours, unreasonable demands from their employers, the pressure to be online and available on the weekends and evenings, being stuck in their positions with no chance of advancement, and not finding meaning in what they do for a living.
As horrible as the experience of the pandemic has been, it has also opened the eyes of many to the realities of their trying and demanding jobs. Most people are now putting more emphasis on their mental health and aren’t willing to compromise on the matter. They no longer wish to blur the lines between professional and personal life even though the hybrid work culture is gaining traction.
As more accounts of inadequate pay make the rounds, most people especially the millennials and Gen-Zs had to take on side hustles to pay bills during a time of inflation. As many people saw their side hustles pick up and provide a steady cash flow unlike their 9 to 5’s that were supposed to do so, they no longer feel motivated to be confined to their desks with rigid protocols when they can be their own boss.
Increasingly unpleasant news is fed to us. Experts warn us that if we don't make drastic adjustments, climate change will end the world. Instead of working to improve things, our political leaders argue and insult one another. Tensions on the global stage are high. We have been engaged in perpetual battles for some generations for virtually their whole lives. This has rendered employees want to work to build a better world. They want their jobs to have a purpose and meaning to them. They know they are dedicating their lives to their careers, they just want to have the knowledge that they aren’t doing more damage than what’s already done.
Dealing with this change
As an employer, you understand the cost of hiring new employees is far more, especially in this job market. According to statistics on millennials in the workforce, the high millennial turnover rate costs US businesses $30.5 billion annually. Retention in the current job market is a top priority. Here are a few ways to retain top employees during a time when employees are resigning to focus on their mental health.
Giving your employees an outlet to give back to the community can aid largely in helping them find meaning in their work. Corporate volunteering programs allow employees to be a part of the change by making a contribution in real-time. What is better is that Virtual corporate volunteering programs offer employees not just to donate their time but also their skills.
Chezuba is an online corporate volunteering platform that offers skill-based volunteering projects that are tailored to the needs of your organization and employees. With a plethora of skills to donate from and a detailed dashboard to record volunteer information, Chezuba’s gamified platform is the best corporate volunteering platform available. Book a free demo to learn more.