According to a new study done by MIT on the Great Resignation – the top 5 reasons that employees leave actually have nothing to do with pay.
Reasons for leaving in 2022 do include toxic work environments, job security, level of innovation, recognition, and response to COVID-19.
In the current job market, people are looking for companies that value their employees and make sure they feel included. Paired with a strong corporate vision, and purpose, AXOMO can help with some of these pain points.
Reason #1 – Toxic Work Environment
According to MIT, the most pervasive aspects of a toxic work environment include, “failure to promote diversity, equity, and inclusion; workers feeling disrespected; and unethical behavior.”
One of the main pain points that we focus on with AXOMO is helping people feel included.
Within an organization, there exists a large range of personalities and styles.
This diversity is what helps keep top companies functioning. The inclusion of new ideas and perspectives helps create exciting and polished products.
With that diversity, however, comes the need for varied methods of promoting inclusion. And one such method is by using AXOMO.
AXOMO allows companies to distribute corporate merchandise in a customized way to each employee.
Instead of one person having to decide on what everyone will get, an AXOMO admin can give credit to any user. This will allow team members to pick what they want.
This process makes sure everyone can find something that speaks to their own sense of style.
Reason #2 – Lack of Recognition
Recognition is a key part of maintaining and keeping a healthy work environment.
People have an inherent need to feel valued. If not, they can feel as though their work is pointless.
AXOMO, at its core, is a swag management platform that lives on recognition. If an employee has done an exceptional job, you can give credit to their AXOMO store and they can exchange that for products.
In fact, companies with an innovative gifting strategy see up to 51% less turnover.
There is no limit to what you can give, whether it be for a special event or any time some extra recognition is deserved.
Rather than simply raising pay, AXOMO is a tangible representation of the hard work done. Every time an employee wears looks at, or uses their gift, they will be reminded of that recognition.
Reason # 3 – Too Much Innovation
It may seem a bit less obvious, but the most innovative companies actually have a higher turnover.
The reason for it comes down to burnout. When a company is trying its best to be innovative, employees burn out faster.
While innovation is important and can lead to a lot of exciting ideas, it is important to have sustainable workloads for employees.
It is also important to make sure employees are recognized for their hard work. A little gift can go a long way in rekindling the fire within.
AXOMO can help with that by making gift-giving easy. Just send over credit when an employee deserves some recognition.
AXOMO can also be linked with many reward systems, to further simply the process.
Reason #4 – Job Insecurity
Another main reason people quit stems from job insecurity and lack of career growth.
When a company is constantly reorganizing, or downsizing, many people get out before they are forced out.
This leads to an unstable work environment with few experienced team members.
Giving employees a sense of stability, and growth can be a daunting task.
But having to constantly rehire, and recruit, can have an estimated cost of up to half of a position’s yearly salary.
There are a lot of ways to help negate this issue, but many of them lead back to planning and understanding a market’s needs before hiring.
Employees need to feel like the job they are doing is needed and will continue to be needed.
Reason #5 – Response to Covid-19
One of the newest, and perhaps unthought-of, reasons people are leaving their jobs is the company’s response to the pandemic.
Within any corporation, there are many different types of personalities and opinions on the current pandemic. It is important to acknowledge all of them.
Perhaps the most crucial aspect of avoiding resignation during this time is giving people options, such as being able to work from home.
Working from home has become an essential part of the current climate, and allows for people to feel safe.
It is important, however, for working from home to remain optional when possible. Choices are the key feature in creating an inclusive work environment.
Why it Matters
The workplace is changing. The Great Resignation is forcing companies not just to rely on benefits and pay to avoid resignation, employees need to feel valued and included.
AXOMO is a great tool to show appreciation, while still giving people the chance to express who they are. All this makes the workplace stronger and more enjoyable.