What Employers Should Have Learned From The Great Resignation

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There is no denying that the world has changed during the height of the pandemic. Between the years 2020 and 2021, there has been an all-time record of employee turnover, and this incident occurred globally. During this period of uncertainty, it has persuaded individual workers to reassess their work obligations and priorities.

Meanwhile, employers were also forced to overcome the ripple effects of The Great Resignation. They were urged to think of effective ways and alternatives to retain staff. It’s safe to say that employers have learned a lot from this pandemic-led phenomenon.

What prompted The Great Resignation?

The “Great Resignation” was coined by Anthony Klotz to describe this unprecedented turn of events that is continually shaping the global workforce. It happened when employees around the world chose to leave their jobs for greener pastures.

While the Great Resignation may have emerged as a result of the pandemic, experts argue that this trend began even before the global health crisis. Records show that between 2009 and 2019, there was an average increase of 0.10% in people leaving their jobs each year. This inclination changed in 2020, as many employees decided to keep their jobs due to the uncertainties caused by Covid-19.

But as fears subsided and companies began to embrace remote work, the labor market returned to the so-called long-term trend. According to the U.S. Bureau of Labor Statistics, more than 47 million workers in the country left their jobs in 2021. Flexibility is a big contributing factor to why many working professionals now choose to join the movement in post-pandemic times.

Why Employees Join The Great Resignation

To explain further, many employees participate in the Great Resignation revolt because of the following:

Toxic work environment: A study conducted by Flexjobs has revealed that 67% of employees leave their companies due to workplace toxicity. There is no growth if the work culture is toxic, not only in the employees themselves, but in the entire organization.

The lack of recognition: Lack of appreciation and undervaluation will cause a drop in employee morale. Lack of recognition leads to demotivated staff, which in turn, will have a major impact on their productivity and performance. Eminently, it is another deciding factor for employees to look for better opportunities elsewhere.

Underpaid staff: Another survey conducted by the Pew Research Center reported that 63% of American workers quit their jobs because the pay was too low. The same survey also found that employees who left their jobs have already worked at a different company with better pay and opportunities.

No reconciliation of work and family life: A poor work-life balance means spending more hours of each day at work. Being overwhelmed with more work responsibilities can increase people’s anxiety, stress and other mental health problems.

Related: A work-life balance will help you retain employees

How companies were affected by The Great Resignation

The Great Resignation has massively affected employers, especially as organizations urged workers to return to their respective offices. It caused companies to have more and more open positions, which also caused disruptions in their daily operations. Thus, the rest of the employees needed to compensate for the lack of manpower. The immense workloads caused employee burnout, affecting their overall performance and productivity.

Companies were forced to fill vacant positions urgently. Not to mention, bulk hiring requires a larger budget and, in most cases, the quality of the hiring process is compromised.

What entrepreneurs should have learned from The Great Resignation

One thing is for sure, The Great Resignation has changed the way traditional employer-employee relationships work.

In Gartner’s 2022 IT Worker Research, 70% of IT professionals are asking employers to integrate a more “human-centric” work model. To help pacify the rising employee turnover rate, employers should embrace the following:

  • Flexibility is the key: Balancing work and family life has become an essential aspect of every individual’s life. Working from home allows employees to spend more time with their pets and loved ones while performing their daily tasks. Flexibility allows employees to feel more satisfied with their work. It helps create a stress-free work environment and encourages staff to be more productive and improve their quality of work.

  • Employers must change their approach: Businesses must adapt to today’s new normal, and that includes modifying their staffing methods to meet the needs of today’s workers. It should incorporate a win-win situation between employers and their staff as this will help attract and retain the right candidates.

  • Support employee development: Employers should also be able to support their employees’ career growth and development, as today’s workers seek long-term stability. Being able to provide upskilling training and other opportunities for professional growth will not only benefit individual staff members, but also the entire organization.

  • Create productive conversations: Employees are also more likely to be satisfied at work when they feel management values ‚Äč‚Äčtheir well-being. Employers should open productive conversations where staff are free to share their queries, problems and ideas. This can also help foster good working relationships and help find answers to solve particular problems within the organization.

The Great Resignation is inevitable, and it continues to happen as employees continue to seek job opportunities with better working conditions. From the big layoff to the big talent shakeup, the key here is retaining employees. Companies should implement changes and revamp their rules to rectify the mass movement.

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