2021 has been a year of unprecedented changes, and one of the most prominent of them has been the resignation of innumerable employees all over the world. The Great Resignation, as it is being called, has been a phenomenon that has surprised many employers in different industries, with numerous workers leaving their jobs for unknown reasons.
Between April 2021 through April 2022, 71.6 million people separated from their jobs, which averaged 3.98 million people quitting each month. Techtarget
What caused this mass exodus of workers? What is driving employees to quit their jobs in record numbers? In this blog post, we will explore the reasons behind the Great Resignation and how employers can respond to the current situation.
Burnout and Stress:
The COVID-19 pandemic has brought unprecedented levels of changes, uncertainties, and stress that have infiltrated the boundaries between work and home. The pandemic has pushed countless employees to work from home, where they have to juggle their jobs, household duties, and parenting. The inability to switch off from work while dealing with a constantly challenging environment has led to the build-up of burnout and mental exhaustion among employees. Hence, when given the opportunity to step back from the situation, they decide to quit their jobs altogether.
The Power of Choice:
Remote work has become the norm. Many employees have gained the ability to choose where and when they work, thereby reducing their need to work in a conventional office environment. Employees no longer have to abide by the strict timings of an office environment, and this power of choice has led to a change in employees’ working habits.
Career Advancement:
The abrupt upheaval of the job market, coupled with the freedom that remote work provides, has led many employees to consider shifting jobs and/or pursuing other career options. With many jobs becoming location-independent and remote, employees are expanding their search horizons for jobs that allow for their personal and professional growth.
Values and Beliefs:
The pandemic has brought about significant changes in the way we work, from remote work to changes in work schedules, a rise in the gig economy, and much more. As a result, many people have had time to reflect and re-prioritize their personal and professional goals and are now seeking jobs that align with their new outlooks.
Compensation:
Not too long ago, people would choose their careers based solely on their benefits, salary, and job security. However, the pandemic has changed all that. People are now seeking work that they love and that also brings purpose and meaning to their lives. Organizations that can provide these benefits and allow for flexibility in the work-life balance will be more successful in retaining their employees.
Conclusion:
The Great Resignation is an opportune moment for employers and HR directors to re-evaluate their strategies, work environments, and company culture. Although COVID-19 and the sudden shift to a remote work environment triggered the exodus, it is apparent that career advancement, values, burnout, compensation, and choice are the primary factors that led to the current situation.
Fostering communication and collaboration between organizational leaders, human resources staff, and employees can go a long way in anticipating future trends and adapting to new realities. The pandemic has disrupted how we work and live, and organizations that adapt to these changes will have a competitive edge in retaining talent and attracting new talent.
Is your organization prepared for the challenges of the Great Resignation?
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