After the pandemic, it`s the Great Resignation that has become a matter of concern for organizations across the globe of late.
According to Michael Page, a recruitment agency, around 86% of employees from the Telecom and Technology sector plan to resign from their current organizations within the next six months. What makes this situation further worse is that this trend is expected to continue in 2022.
According to a report published in LiveMint, “Employees who are less than two years in their current organization will drive this revolution in India. 38% of those who are planning to jump off the ship will belong to this segment.” Although this trend may leave an impact on various sectors, it will be the tech industry that will bear the brunt as there are more positions vacant that employees looking to fill those seats.
But before we can talk about the Great Resignation, do you know what exactly is it all about?
2020: From Where it All Started!
In 2020, when the pandemic struck the world, the resignation across the US was minimized due to the fear and uncertainty that gripped almost everyone across the globe. The organizations shifted their operations and provided the hybrid working model to their employees.
However, the extended working hours, extreme working pressures, and hectic schedules diminished the line between employment and forced labor. The employees lost their work-life balance, and everyone began to feel the collective burnout. This led to employees quitting their jobs at unprecedented rates.
Though it started in the US, the trend is expected to make waves and might keep hitting various sectors in India.
What has triggered this revolutionary trend?
Unfortunately, it`s some of the dumbest decisions made by employers that have sown the seeds of the Great Resignation. Probably, this is the reason why this trend has not died out and continues to surge. On top of it, identifying and retaining staff has become more complicated and harder by bad management policies.
Many companies have returned record profits during the pandemic. And to be honest, employees who have worked day and night during the pandemic expect something better from their companies. For instance, many organizations refer their every employee as an “associate” when they leave. This makes it incredibly difficult for them to find a good opportunity in the same field.
The above example is as ridiculous as companies asking their employees to return to the office full time. In India, many organizations have called their employees back and refuse to see the leverage that it provides to their employees' well-being.
We have seen lots of discussions happening on employee wellbeing and mental health. But seldom have we seen companies taking some serious measures to improve their work culture. However, the rising trend of Great resignation is proof that employees are changing and so should the organizations.
People Want Better
Companies often think that employees always want more. Yes, people want more. They want a work-life balance. They want mental peace. They want more than just mechanical work that is not adding value to lives. They want to work for companies that mean something. They want to put their skills and efforts into something they genuinely believe in.
Around 61% of Indian employees are open to accepting lower salaries or letting go of appraisal or promotion to improve their overall well-being and happiness.
If you are going to spend most of your waking hours working, isn’t it rational to expect it to be the best, every single day? While many people remain untouched by the pandemic and its post-trauma, many among us have lost our fathers, friends, and loved ones.
A Perfect Time to Bring the Change
Today, the time is not changing, but it has already changed! And companies need to realize it. It is quite surprising that many companies still expect to operate on a pre-pandemic structure. We know the game has changed and its rules too!
The companies will have to work upon its strategies, toxic work culture, and employee benefits that provide meager support to its recipients. Employees have realized the importance of physical and mental well-being. They are ready to accept positions and offers that pay less but provide more mental peace and a healthy work environment where they can thrive and prosper.
So those who are willing to embrace the change must introduce proper integration and support. If ever there was a time to rethink and redesign the strategies, the time is NOW!
What do you think? The pre-COVID work culture was more employee-friendly? Or the post-pandemic environment provides more benefits to modern-day employees as well as to the businesses?