The Great Resignation has not hit the world of work. According to the U.S. Bureau of Labor Statistics, the rates of resignation are highest among mid-career employees. Many of these workers are leaving their jobs and fields to pursue a new career path offering better job security or greater flexibility.
Mid-career workers are attractive to companies because of their skills and life experience. Skills like leadership, problem-solving, and multitasking transfer well to new roles and often give seasoned hires an advantage over younger workers.
It’s almost as if the entry-level openings don’t exist anymore: Thirty-five percent of “entry-level” openings require years of job experience. That’s higher in skill-heavy industries like tech, with 43% of college graduates leaving school without a job lined up. This will affect us for years to come.
We must tackle the dual-pronged issue of investing in these entry-level employees while also retaining our mid-level workers. Younger, less experienced hires need a chance to enter the workforce and get learning, and mid-level employees need to feel valued and cared for within their current roles.
Growing Your Retention Rates
Company leaders need to recognize that both mid-career and entry-level employees have essential roles to play in the success of their business. If they can nurture both experience levels, they can retain and onboard successfully and simultaneously.
To start, leaders need to acknowledge the hurdles that mid-career employees face. Forty-five percent of caregivers said they had considered leaving the workforce because of personal demands on their time, while 34% said they had “lost critical skills” in the past year.
To combat this life stress, mid-career employees need flexibility and understanding. Companies must develop permanent, sustainable methods of retaining talent via flexibility, including remote work, in-office childcare, and flex time. These employees also need the opportunity to gain skills (or grow existing skills) in an accessible, low-cost way.
Helping Employees Grow Their Skills
Eighty-nine percent of employees are willing to reskill, but too few get the chance. Providing opportunities to learn new skills and develop professionally shows the company is invested in growth. Give employees of all levels some opportunities to skill up, and they will show their worth.
Teaching your employees will lead to better engagement — 2.9 times higher engagement than employees who don’t see opportunities to learn and grow. Upskilling opportunities are also a win for your company. It allows you to move existing employees into roles that are often difficult and costly to fill.
Be a Mentor
Mentorship programs have positive effects on both mentor and mentee, so even mid-career employees who aren’t interested in upskilling can still benefit. Taking a junior employee under their wing creates a sense of loyalty among mentors, boosting retention rates. A program could increase mentees’ communication skills, community engagement, goal-setting, and a sense of purpose — even if the mentee isn’t an entry-level worker.
Furthermore, mentorship is currently underutilized. That means companies adopting mentorship programs will stand out among competitors. As a result, you’ll gain another layer of protection against poaching while also making your business stand out from the crowd.
Companies don’t need a gimmick to make it through the Great Resignation; they need to evolve alongside our changing world. Changes to how we work and train workers are necessary to make it through this event. Utilizing a mentorship program will gain more engaged employees and gain better career outcomes.