16 Dec The Great Resignation: facts and reflections
Regarding our industry of reference, one of the phenomena that emerged during this past year is The Great Resignation. What is it exactly? We have gathered some infos, data and reflections to better understand what has been happening worldwide.
In his article Abhinav Chugh – Acting Content and Partnerships Lead of the World Economic Forum – gives us a clear explanation of the Great Resignation which refers to people who are voluntarily quitting their jobs. In the article this image appears: it shows the increasing quitting rate.
In order to best prepare for 2022 it is important to understand why people are leaving their jobs and which changes need to be made so that organizations can grow sustainably. Especially with the spread of smart working and advanced technologies, it will be essential to establish a culture of individualized working conditions. Meaning that organizations need to find the elements that are not willing to comprise and those that can be flexible and move towards a different way of working which includes different workplaces and setups. The new normal is possible but it takes time and strategy to adjust and keep performing successfully. To read more reflections on the topic you can find here the whole article.
From the Great Resignation to the Great Reshuffle
Here in this article you can find a very interesting perspective of the Great Resignation: people are not only quitting their jobs, but they are taking the opportunity to rethink their careers. As the associate professor of management at Texas A&M University, Anthony Klotz states it will take a while for the market to settle: “As organisations make changes, employees are migrating to the work arrangements they want at this stage of their lives. We could see an unsettled labour market as people move around and companies try to provide solutions that bring out the best from their employees – and that takes a while”.
Maybe it’s time for organizations to rethink their processes and try to regain the human touch and work-life balance we had been losing?
What is happening in Western Europe
If you are interested in knowing what is happening in Western Europe and especially why young employees are leaving their job, here is an interesting report by Ypulse:
The graphic shows the reasons Gen Z and Millennials are quitting. More money and less anxiety/stress are the top reasons. This makes us understand how organizations should start rethinking their culture in order to retain such talents, and it is in line with the above mentioned reflection.
We cannot forget these data when moving forward and starting 2022. We shall instead acknowledge what is happening and try to find a way to improve our economies and create an healthy labour market giving employees the care that they – and our society – deserve.