The Great Resignation

The Great Resignation

Should you be worried? Much like the Great Depression, the Great Resignation has been a hard pill to swallow, mostly for employers.

WHAT IS THIS GREAT RESIGNATION ALL ABOUT?

In essence, given the last 18-20 months everyone has had to endure, you would think that the last thing on an employed person's mind would be to resign. However, with companies struggling to make ends meet and hold on to their staff, employees feel somewhat nervous about their job security. So, why would they resign then?

With their job security under risk came, for many, longer working hours with no boundaries (even lower incomes paid), feeling overworked and often spiralling into a world of despair and depression. And, with that came many employees downing tools or jumping ship in search of better working environments.

Employees have started to question their job conditions and decided that there is more to life than money or job security. Many of them that fit into the Great Resignation have had other skills to fall back on, some going to pursue life-long dreams, changing careers altogether, and some looking to spend more time with family.

Words such as “toxic”, “reaching breaking point”, and “burnout” have been rife over the last few months, but never more so in the previous quarter, and this is not just a global trend. South Africa is also starting to see the turn of tides on this front.

WHAT DOES THIS MEAN FOR EMPLOYERS?

It means, now more than ever, employers need to start a campaign of retention, and not only because it costs more to replace employees than to retain them but because the mind shift that has started could have further-reaching implications.

Ask yourself what employees have been doing and thinking about whilst they were in lock down. They were thinking, the majority at least, that they can actually work from home and still get paid, that they can do their job just as well and not have to travel in traffic, spend money outside of their home and in the end, save money. They think they can be in charge of their destiny and environment. Many have even considered starting up their businesses, often competing with their current employers. Employers need to consider introducing the hybrid model of employment and working.

“The hybrid model offers benefits for employees, employers and the environment alike. Workers are free to base themselves at home or a flex-space closer to home so that they can lock in the worklife balance benefits they found during periods of lock down. The reduction in commuting cuts companies’ carbon footprints and supports environmental goals while empowering people to choose where they work maintains – and can even improve – productivity”, says Joanne Bushell, MD of IWG, South Africa

Considering a permanent ‘hybrid’ way of working will mean making some significant changes, but in the end, these big changes can have more positive results longterm. If you have not addressed or even considered that employees' mindsets are changing with how they view work, you will surely be on the back step going forward.

Sure, this COVID-19 pandemic will pass – in a few months – or a few years maybe – but it will pass. So, for now, future-proof your business by putting plans in place to retain your staff and consider the hybrid way.

CONTACT SILKE

Address: Frazzitta Business Park 0A Langeberg Rd, Durbanville, Cape Town, 7550

Tel: +27 72 018 5827

Web: labourexcel.co.za

Email: atlantic@labourexcel.co.za

Social Media: @LabourExcel