By Masentle Mokiti
With the high rate of unemployment globally, one would ask what spurred the Great Resignation in the years 2020 and 2021. Is this growing trend a global risk? Well, the Great resignation did not start with Covid 19 pandemic as many would like to believe. The pandemic only became a catalyst that sped up the rate at which people quit their jobs, particularly in the United States than anywhere else in the world. The pandemic allowed people to experience the freedom of managing their work schedules, whilst also encouraging an entrepreneurial spirit as some businesses were unable to operate in the earlier stages of lockdown.
Furthermore, many came to realise they could apply for jobs anywhere in the world and no longer have to sit in an office from 9 am to 5 pm hence freelancing came on the rise. Experts believe that pandemic-related epiphanies about family time, remote work, commuting, and life/death changed the way employees think about work.
According to Business Insider SA, in the US, the Great Resignation trend was driven by dissatisfied low-wage workers who had the option to rely on Covid-19 stimulus payments. However, in other parts of the world like South Africa, the trend sought high skilled people to migrate away from salaried jobs and also enticed others to look for better opportunities overseas.
Is your business at risk?
The Great Resignation is a global phenomenon characterised by a large number of people re-evaluating their lives and hence resigning from their jobs. Several reasons can encourage this trend.
- Employees being overworked. Downscaled companies due to Covid 19 pandemic resulted in having the remaining staff take on more workload, and work longer hours with no salary increment.
- Failure to manage the pandemic properly may leave employees unsupported and uncertain about their prospects. Not having clear guidelines and policies in check will leave employees vulnerable and so seek jobs with better stability.
- Mandatory vaccination policies may be problematic for some employees. Due to many beliefs and conspiracy theories that spread about the Covid vaccine many people are still reluctant to get vaccinated and may quit their jobs in fear to pursue less binding roles.
To better curb the Great Resignation trend and retain the best talent, you may need to step up and implement measures to retain your staff. Experts say this can be done by offering flexible working conditions, implementing effective remote collaboration tools, investing in employees' training and helping to ensure their overall wellness-financial, physical and mental.
The pandemic brought with it many changes that may have changed the traditional structure of work. More people are looking into much more flexible roles that allow them to work in their own time and pace. It is necessary to keep up with these changes and blend a bit of this and that to accommodate/retain as much talent as possible.
To further learn more about talent retainment and ever-changing HR trends that may affect your business connect with us today!