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The Great Resignation
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What is ‘The Great Resignation’?

One good thing about Covid is it’s teaching society when you’re sick. STAY HOME. I spent years in a culture where coming to work sick was a trait of a good worker. Then everyone got sick & all the bad workers took sick days. Twisted priorities. I applaud “The Great Resignation.” WendyAnn @twitter

Coronavirus has broken many conventional norms. But what may have come as one of the most significant disruptions to the corporate world is the ‘great resignation.’ Contrary to the traditional belief that employers could get away with anything in downturns, including salary reduction, firing employees, the great resignation has forced them (literally) to rethink their overall workforce strategy, that is, if they want to survive in their businesses.

Relatively new, the term great resignation was coined after millions of people in the US quit their jobs. In April, the Bureau of Labour Statistics recorded the most significant spike in the number of people who left their jobs. 11.5 million US workers said goodbyes to their employers in April, May, and June. These numbers are still going up, and the so-called ‘tidal wave of resignations’ is reportedly crossing borders now. According to a Microsoft report, 40% of the global workforce is considering leaving their employers this year.

The Harvard Business Review mentions that primarily employees between 35-40 years old see a tremendous increase in resignation rates. This review means it is mostly the mid-level employees who are driving the big quit. One of the primary reasons for this disruption is COVID-19. Many people had the opportunity to reflect on their role, future, and overall sense of individual values. They realize the importance of work-life balance. Therefore, demand a more flexible work ecosystem. Employees’ expectations have changed entirely and require companies to make serious efforts to retain their talents.

One way they can deal with the issue is to build strong brands. They need to invest in creating a culture based on a flexible workplace, regular feedback, employee recognition, celebrating achievements, and most importantly, paying well to their employees. One clear thing from the great resignation is that people don’t always make decisions based on pure rationality, even in professional lives. Employers need to invest in a workplace that is more human.

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