“The Great Resignation” -record number of people re-evaluating their jobs and then leaving their jobs once COVID-19 pandemic ends. Resignation rates are highest in technology and healthcare industries and among mid-career employees. Mass layoffs occurred at the beginning of the pandemic. Employees felt the need to hold onto their jobs if they were lucky enough to still have them. Now, workers who do not need their jobs for survival are leaving. Those who do lean on their job for financial support are fatigued from the pandemic disruptions.
What’s the great challenge organizations will face after the pandemic?
The pandemic greatly changed the architecture of companies; many employees will not return to working in the office full-time. Hybrid models will be prevalent, including asynchronous work and work settings.
Actual office buildings will be used to hold meetings and recruiting opportunities, causing a shift in the leadership necessary for success (traditional manager leaders to self-leadership).
What’s causing the Great Resignation?
Jobs that require providers and receivers of products/services to be at the same place at the same time are suffering the most from the “Great Resignation.” Healthcare and service industries (hospitality, food service, music concerts, passenger airlines, retail, sporting events) are currently suffering from the lowest retention rates. If an organization can allow at least one aspect (location or time) to be asynchronous, they will retain workers at a higher rate. Businesses that promote asynchronous virtual work, such as online retailers, remote work service providers, and streaming services, have the best retention due to the greater flexibility that allows for a better work-life balance.
Organizations need to manage the greatest challenge that comes with remote work to prevent resignations. The biggest challenge is the need to build communication across departments.
