“Careers increasingly come with a reboot button, and companies that realize this early possess a competitive talent advantage”
— Gyan Nagpal
It still seems like the buzz isn’t really over!
What do you think about great resignations or resignation waves from employees? Are they a threat, an opportunity, a myth, or a cautionary tale? It has been a question of interest for some time why people quit their jobs.
People sure have different views on it and pick the theory that suits them the most. Conceptually, the accurate description will be “The proportionally resignation boom, retirement or reshuffle”
Many believed it was the consequence of the pandemic. As many were distressed, they decided to quit but this isn’t the reality. The viewpoint of employees has drastically changed over recent times, let us see how.
Numbers speak over myths!
According to Bureau of Labour logistics, 4.5 million workers quit their job in November, 2021. It was thought that it is mostly because of the pandemic and mostly women quit their jobs with the families to take care. But, as the time goes by, we see it wasn’t a cause it’s more likely a gradual process.
According to a survey by Haward Business Review, there is a steady growth of resignations every year (2009-2019). On average, there is a growth of 0.10% on average every month.But there was a drop in number in 2020, as people didn’t want to quit with so much at stake but the number risen up again in 2021.
How Great resignation affected the work environment?
A Pew Research Centre Analysis found out the US adults aged above 55 are retiring faster after the pandemic. The US Census Bureau saw an increasing number of applications from 2020, as more people wish to start their own business.
It has become hard for the companies to retain their employees. Also, a survey by Workable determines that 72% of the employees are planning to quit their jobs in the next 12 months.
According to LinkedIn 2022 Global Talent Trends Report, for 63% of the job seekers, work-life balance is a top priority. The major causes now, for people leaving their jobs are job insecurity, lack of recognition and toxic work culture.
What does the future hold for work cultures?
So, how is the great resignation going to affect the work environment. Some changes are already taking place and we can see some soon to be incorporated in the work culture.
1. Normalized career breaks
Hiring managers and recruiters are gradually taking the career breaks as normal. Organizations are now realizing career gaps should not be the reason to disqualify any employee. People are taking time off due to many reasons voluntarily or involuntarily that is now being recognized by various companies.
Infact, LinkedIn has also introduced an option for career gaps wherein the employees can easily talk about their experience and career path.
2. Mental health a priority
With the distress during the pandemic, organizations have become keener towards the mental health of the employees. According to a survey, study by Oracle; Pandemic has negatively impacted the mental health of 78% of the employees globally.
3. Remote/hybrid training:
Gallup states that 37% of the seats are still empty in 2022, which imposes the need for the organizations to give work from home to the employees or have hybrid work culture.
4. Flexible work hours will be a thumbs up!
Companies are inclining towards flexible work hours for the employees. 84% of the American workers are in the Favour of four days’ work a week. Alternate days shifts are also becoming more common.
How to retain employees amidst the resignation wave?
1. Returnships
Offer returnship programs for the employees who were away from the market for a while.
2. Provide upskilling
Upskilling and reskilling are crucial aspects to fill in the skill gaps for the employees to excel. Organizations have picked up many methods such as online training through LMS platforms that will help the employees to retain better and also provide them knowledge at their own pace.
3. Promote your employees and appreciate them
Instead of hiring new talents, promote your current employees to move to a higher role. This will help them retain and also encourage everyone else to stay in the same company.
You can improve your training program for better employee retention with the correct learning methods through LMS.
Train-upskill and appreciate to retain!
