Whether you’re calling it “The Great Reshuffle, “The Great Resignation”, or “The Great Retirement” there are a staggering number of people who are leaving jobs right now. A record 4.5 million workers in the United States quit or changed jobs in November 2021 according to a recent Washington Post article (1). With similar numbers noted for earlier in the year too, this is a costly trend that is mirrored in Canada and being felt by all businesses heading into 2022.
Its expensive to lose an employee and refill a position. Josh Bersin of Deloitte (2) stated it can range up to 1.5x – 2.0x of a person’s annual salary to backfill a position when all the costs are factored in. With today’s extra long timeframes needed to find people it is possible to assume this number is increasing at the same pace as inflation. Oy!
So, if this is the reality businesses are facing heading into 2022… how do you fight back? Technology is now offering solutions that can help. An example of a tool that does many things for organizations, but also works to lower exit rates, is Microsoft Viva. (3)
What is Microsoft Viva?
Microsoft Viva is an employee experience platform that helps bring together all types of work environments (on-site, hybrid, and remote). Through features designed around communications, knowledge, learning, resources, and insights – managers and individuals get a better handle on work and are able to turn knowledge into action. Powered by Microsoft 365, Microsoft Viva also works as a platform to help build culture and bring the benefits of Microsoft Teams and SharePoint closer together.
Three notable features of Microsoft Viva to help battle employee turnover:
- Viva Insights – This is the real-time, data-driven piece of Viva. While it’s base version provides individuals with interesting reports on their work habits. A manager’s version gives aggregated reports that show how departments are working and where the challenges are. Viva will show a manager a team at risk of burnout and even break it down to show how much time is being spent in meetings, how many hours is going into emails, and how much work is performed afterhours. The data Viva Insights provides makes it simpler to identify and act on concerning trends. Reports also guide how to increase productivity and communication and will keep tabs on how people are feeling daily in their job. It’s valuable real-time data that offers actionable insight and ideas that can be used to help manage employee satisfaction in their job.
- Viva Connections – Most workplaces today are a compilation of diverse roles and work locations. A more modern strategy for employee communication and engagement is needed as the old ways aren’t cutting it anymore. With Viva Connections, you will bring SharePoint directly into your Teams interlacing two key communication channels. By providing greater connection and personalized view of news, conversations, and community, the end result is an informed, engaged, and dedicated workforce that feels connected anywhere and from all types of devices.
- Viva Learning – This feature offers a modern way of tieing in professional development into a person’s daily routine. Through a robust and high quality catalogue of 10,000+ online courses, members of your team can take it upon themselves to upskill or be recommended (or assigned) courses from LinkedIn Learning, Microsoft 365 Training, Microsoft Learn, or your own custom content. Viva Learning fosters a learning culture and makes it simple to grow skills. Not to mention, it helps your business be a workplace that encourages people to grow and develop their professional skills. Who doesn’t value that?
What is the cost of Microsoft Viva ?
Viva is an add-on to Teams and your Microsoft 365 licences. Your cost will depend on the type of, and number of, licences you have. We strongly recommend that when looking at the cost of Viva, you also figure out the average replacement cost for losing an employee. With these two numbers incorporated into the decision making process, Viva often shifts from an expense to an investment that further taps into Teams and SharePoint functionality and helps you and your managers battle employee turnover with technology. And, hopefully, saves the business a bunch of money too.
Convverge | Modern Workplace Consultants
Its a new digital era and many businesses are still figuring out how to accommodate a mix of employees working from home, from the office, and on-the-frontlines. Building an anytime, anywhere IT and communication strategy into how you work is available to all, its just a matter of getting the right infrastructure and tools in place. When you don’t know where to start with that, this is where our team of modern workplace consultants will give your team a boost and help guide and match you to the best choices for your business. If our modern workplace consulting services would be of help to you, please contact us.
(1) The Washington Post – A record number of workers quit their jobs in November
(2) Employee Retention Now a Big Issue: Why the Tide has Turned | LinkedIn