Many people throughout the United States have taken to the trend of quitting their jobs. This has resulted in what is now being called “The Great Resignation.” It’s been going strong since spring of 2021, resulting in about 33 million resignations over the last year.
Why Companies Should Pay Attention
Recruiting and training new employees can be one of the greatest expenses that a company can face.
Focus on building a company culture that addresses the needs of employees. That can end up being more cost-effective than starting from scratch with new talent.
Understanding what drives employees to leave a company can be great for new businesses owners to learn how to retain key players.
The Great Resignation is also giving recruiters great opportunities to find new talent online. Companies with great employee cultures can now build their team with even more talent.
Why Employees Are More Willing Than Ever to Quit
1. People are prioritizing mental and emotional health.
A report from an MIT Sloan Management Review showed that a hostile work environment made it 10.4 times more likely to have employee turnover.
According to the Harvard Business Review, “Sixt-eight percent of Millennials (50% in 2019) and 81% of Gen Zers (75% in 2019) have left roles for mental health reasons, both voluntarily and involuntarily, compared with 50% of respondents overall (34% in 2019).”
With this trend of younger generations having a stronger emphasis on mental health, finding companies that offer benefits that include mental health care coverage can be an important benefit that talent is looking for.
However, prioritizing creating and maintaining a sustainable and healthy work culture is what young employees are willing to leave their current jobs to find.
2. More companies are prioritizing employees.
In toxic work cultures, there can be a tendency to be results-oriented. Toxic conditions are another reason why The Great Resignation has gained steam.
Managers can forget the importance of training their employees to do jobs well and for continuous growth. Investing in employees and encouraging work-life balance over long work days will pay off. Taking the time to connect within the busier seasons of work can also lead to employees feeling valued and appreciated.
It’s becoming more common for companies to find ways of caring about potential employees before they even offer a job.
Loyalty from employees comes from having relationships with the people they work for or within a company. It also comes from feeling cared for in those relationships.
3. Employees do not want to go back to the office.
COVID-19 has made working from home become the norm, and people like it.
Saving time from having to commute to an office, being able to save money by eating food from home, and having the opportunity to work in your pajamas are all great benefits for many employees of the digital age.
Caretakers, such as parents of younger children or those caring for older parents, also greatly benefit from working from home. They are able to be more present and readily available when needed.
With many employers re-opening offices and requiring their employees to go back, many are looking for opportunities to keep this new normal. Some are even willing to sacrifice some of their salaries in order to make it happen.
4. More people are going to graduate school.
A report from the Council of Graduate Schools found that enrollment grew by 2.5%, with most of that growth being driven by domestic students.
More jobs are requiring higher education. The pandemic has increased the number of options for students to learn remotely or through hybrid options. The timing has never been better for employees to pursue a graduate degree.
Many universities are trending towards increasing the stipends of graduate students who work for schools.
Additionally, more employers are offering tuition assistance for employees. They hope to pursue further degrees in either their current field or even in a field they are passionate about.
5. Remote work provides more opportunities.
The digital age makes it possible for many jobs to be done anywhere at almost any time.
In addition to the benefits of working from home for personal reasons, working from home opens the door to working for companies beyond your local radius.
The Great Resignation is likely to continue for a season.
It has never been easier with wireless internet to work for a company hundreds of miles from home. Remote work also allows for opportunities for employees to be able to work from new environments. These new venues include public parks and coffee shops. Employees can even work while traveling to new cities or when visiting family and friends.
The gig economy makes it easier now more than ever for employees with specific skills to be paid for services for which their skills are a good fit, on their own time and at their own wages. This reality, too, has largely fueled The Great Resignation. There is low commitment. There’s also a variety of opportunities for young entrepreneurs to build up their portfolios on their own terms. They can be constantly doing different and exciting projects and tasks.
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