The Great Resignation
Recently a phenomenon that’s become global and a big headache for companies is the “the great resignation”. Since April, a record number of US workers, the overwhelming majority in low-skilled jobs in the service sector, have quit, no longer concerned that they will struggle to find a new position. (ST, 10 Dec 2021)
Who is affected? Which sectors are affected? Types of jobs?
What is the cause of this great resignation?
What can we do to mitigate this?
When I say “we”, I’m referring to both companies, as well as career counsellors, government and even individuals in our job search.
Understanding the cause or reasons can help in the most important question, solution.
Traditionally, labor economist look at demand and supply conditions, say the economic recovery, and the short labor supply, and conclude that salaries should increase. This is true.
But is that the only perspective?
A very useful piece by Jeremy Engle to look at this Great Resignation as a discussion piece to brainstorm critical thinking in class which I’m using in my 3rd year Human Resource Management course.
Some have called covid-19 the “The Great Realisation” and the number of deaths and surreal happenings have pushed people to either an emotional meltdown or treasuring relationships more than status and significance in their career ladder.
A friend of mine, decided to move his family back to Canada, to be near his aging parents and help his young son enrol in a better education experience. Both him and his wife decided that they will put in their best efforts to make changes in their career.
What are your thoughts on the Great Resignation?
What can companies do to help employees navigate this Great Realisation of work-life harmony?
How will this impact the Future of Work?
A recent HBR article dated 21 Sep 2021 proposed some retention measures, what are your thoughts on these measures? Do they resonate with you? Any that you might suggest instead?