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“The Great Resignation”

In my reading this week, I came across an article by Kathryn Mayer with Human Resource Executive.  Her article calls the growing increase in turnover as the “Great Resignation.”

Mayer cites a recent survey conducted by Monster.  This survey revealed that 95% of those surveyed reported that they are contemplating leaving their current employer for a new position elsewhere.  95%!!  Seems unreal…but that’s what the survey revealed. 

Of those surveyed, 92% indicated a willingness to move to a new field/industry for the right position.  Additionally, 66% believe there are prospective employment out there for those seeking.

Why the dissatisfaction among workers???  Monster reports burnout as the most significant cause for wanting to leave current employers (32%). While 29% are dissatisfied due to a lack of opportunity for career growth. 

The software company, Limeade, surveyed their employees before COVID, and found that 42% said they were struggling with burn out.  They conducted the survey after some time of dealing with COVID, and the percentage had grown to 72%!

Seems many have been impacted by increased stress, and working longer trying to keep up with greater demands.  Many have had no breaks during this time.  That adds up to burnout that the “experts” believe have brought many in the workforce to “their breaking point.”

Over half of employees surveyed by FlexJobs revealed that working remote is so highly preferred over returning to the office, employees would certainly seek new employment if required to return to the office. 

Although these surveys were, in reality, small snapshots of the greater number; there is still reason to pay close attention and give much thought as to retention of good talent. 

Many companies are now luring dissatisfied workers with hiring bonuses, flex-time, and remote work.  These preferred schedules are more attractive now, as so many report being in desperate need for that “work/life balance” we hear so much about.  [I’m still looking for it!  For my husband and I, who have our own businesses; it’s more like, “which 16 hours a day are we working this week?”  😊  But we love what we do, and it really doesn’t feel like work—most days.]

I wanted to bring this to your attention, because it’s definitely a “seeker’s market” and good talent is challenging to fine.  Right now, any talent is hard to find!  This may be the perfect time to review benefit packages, vacation allowances or PTO in general, # of holidays, work schedules, periodic bonuses based on reaching a department or company goal, etc.

Finally, consider how well trained your leadership team is, and whether communication is open and professional with your staff.  Be willing to have an open-minded dialogue with your frontline managers and leads.  If well trained, they should understand the concerns and needs of your people, and be able to communicate them effectively.  Listen to them and get HR involved to lead the effort to retain the talent you have. 

There are so many topics I want to write about that I know would be helpful to Business Owners and Small Businesses. However, time for me is at a premium right now. Thankfully, I’m busy and have several new clients with whom I’m involved in various projects.  You know who you are, and I’m thankful for you!

Reach out if you have any questions, or would like to consider needed Training for you and your staff.

Thanks for reading. Have a great day!

Article cited:  Kathryn Mayer, ‘Astounding’ number of workers looking for new job; What’s HR’s move?, July 19, 2021.  Human Resource Executive.  URL:  https://hrexecutive.com/astounding-number-of-workers-looking-for-new-jobs-whats-hrs-move/?eml=20210721&oly_enc_id=4791B8325967J4Y

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