The Great Resignation – What Employers Should Have Learned
This week’s Tip of the Week comes from Derek Gallimore. Derek is the founder and CEO of Outsource Accelerator. What Employers Should Have Learned From The Great Resignation
Why are employees still joining The Great Resignation? How has the business world globally been impacted by The Great Resignation? What should businesses have comprehended by now?
In his article, Gallimore seeks to answer the above questions and a few more challenging ones regarding why employees are still quitting their jobs. He writes that workers have been engaged in re-examining their employment obligations and priorities, with over 47 million workers in the US quitting their jobs in 2021 (U.S. Bureau of Labor Statistics). This was only paused temporarily in 2020, due to worries surrounding Covid-19.
Why did so many employees join The Great Resignation? Gallimore provides a few insights into the causes:
#1. Toxic work environment: Flexjobs revealed that 67% of employees leave their companies due to toxicity in the workplace.
2. The lack of recognition: A downturn in employee morale, and unmotivated staff, all have a big impact on their productivity and performance.
3. Underpaid staff: Pew Research Center recorded that 63% of American workers quit their jobs because the pay was too low.
4. No work-life balance: dedicating more hours each day to work. overwhelmed with more job responsibilities.
5. Immense workloads drive employee burnout, affecting their overall performance and productivity,
Gallimore notes that businesses have also been impacted, and states, “The Great Resignation has massively affected employers and companies which increasingly having open positions and disruptions in daily operations.
What Employers Should Have Learned From The Great Resignation
1. Flexibility is the key
2. Employers must shift their focus to today’s new normal, modifying their methods to the needs of today’s workers
3. Support employee development
4. Create productive conversations
He reminds businesses that “The Great Resignation is unavoidable, and is still happening today. The key here is to retain employees. Businesses should implement changes and revamp their rules to rectify the mass movement”.A well-written article by Gallimore that gives the reader a toolbox of ideas to consider from.
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Dale S. Richards specializes in management, marketing, operation optimization & business valuation consulting and is a 30+ year turnaround expert. He has implemented success concepts into results in 150+ companies. Dale is a Certified Valuation Analyst (CVA) with NACVA, Eight-Year Vistage Chair & International Speaker.