The entire workforce is changing, right before our eyes. As millions of workers are leaving their jobs every month, employers are facing tough questions about how to attract and retain talent. Meanwhile, workers in every single profession are seeking more ease, meaning and joy in their jobs. Welcome to the Great Resignation!
SHOW NOTES
On this episode of Crina and Kirsten Get to Work, our pair of pretties riff on what has become known as The Great Resignation. Yes, people are leaving the workforce in droves, and not returning to the workforce after being laid off due to COVID. There is essentially a mass exodus from the workplace.
So here are some jarring stats:
We know a little about why they are leaving. The vast majority spent that time trapped in their home thinking about their current work situation and realized they needed a change. Stress and burnout are also significant factors as people, particularly women push the eject button. Some are just dissatisfied with how their employer has handed COVID, others cite unfairness and others just decided being a two income household was too much and made the decision to live with just one income. And some have been motivated to take the leap and start their own business.
If you are one of those employees looking for the door, our hosts have some ideas:
If you are one of those managers looking to keep your employees, consider these strategies:
And there is some anecdotal proof that these kinds of measures work. A study of more than 400,000 people published in Harvard Business Review found that when employees believe promotions are managed effectively, employee turnover rates are half that of other companies in the same industry.
The last 20 months have been a very unusual and upsetting time. It is understandable that the vast majority of us are reconsidering how we spend our work time - and it makes sense that we are considering a change. If you are a manager, accepting that reality and being the preferred employer is important if you want to retain your employees. If you are an employee, plan carefully, but the workplace is your metaphorical oyster (you know, the one with the pearl) in ways it has never been.
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