Leading through change creates opportunity, collaboration and a serious call to action. In the professional environment is buzz around the Great Resignation and Employer commitment to face today’s pandemic challenges together has created possibility, building trust, and redefining market place.
I founded the Jobs N Career Network after September 11, 2001 when the Work and our world is in so much churn. I was raised in the Midwest, where loyalty mattered, to a point. If you were being treated well and paid fairly, why quit? My parents taught us to never quit a job, unless you have something else confirmed, because it is much easier to find a job, if you already have a job.
We heard about the Great Resignation in the press, on the news, and in Global HR Recruiting Professionals Network. Was this real? Was it a thing? I had to seek evidence that the Great Resignation was not just part of the Buzz Word Soup that makes up our daily living. This is a quick report out that yes the Great Resignation is a thing, and headliner news from Price Waterhouse suggests the winners are the companies that understand the power of attraction and retaining people who want to make a difference!
Statistics on The Great Resignation
Nearly 4 million Americans quit their jobs in June 2021 this represents a huge increase when compared to last year.A U.S. Bureau of Labor Statistics
Monster survey found 95% of employees look to change jobs when they come to feel they have tapped out or burned out in their present field. There are 9Million open jobs now. Education, Health Services, Trade/Transportation, and then Contract Consulting Opportunities.
- Gallup polling analysis suggests that up to 48% of workers are either looking for a new job or actively considering it.
- Fortune found that 65% of employees are looking for a new job.
- A recent Price Waterhouse survey found that 88% of employees are reporting a higher turnover rate
Top Reasons Employees are Quitting
People want to feel appreciated and rewarded for their talents. Money is not everything, but ResumeBuilder reports its a leading factor where, they found 33%, would leave their employer for a 20% increase in salary.
They want to love their work, and here are the top 4 reasons why employees are leaving:
- 44%– Employees told Forbes they would quit if their company mandated vaccines
- 41%– Wages and Compensation (ResumeBuilder found 27% didn’t receive a pay raise at their current job)
- 34%– Flexibility: During the Pandemic, employees felt more productive from home, and wanted continued flexibility. (PWC found 75% of executives anticipate that at least half of office employees will be working in the office. In comparison, 61% of employees expect to spend half their time in the office. )
- 33%– Career Advancement: Employees felt they could sustain a better career trajectory by leaving their present job. (ResumeBuilder found 19% were looking got passed up for a promotion at their present employer )
- 23%– Left due to a lack of benefits. (Paid sick leave was available to 77% of private industry according to Bureau of Labor Services)
Post Covid Career Motivations
During the COVID Pandemic, almost everyone experienced lifechanging loss and grief due to COVID missed socialization. They reflected on their futures and what really mattered to them going forward. Career Change Choice is the reason. The biggest leavers were in the hospitality and retail industry, but the Bureau of Labor Statistics suggest this is an across the board increase of leavers.
Employees want to feel valuable, valued, and productive. Most are seeking what they want to be happy with the right mix of work from home flexibility, growth opportunities, and fast interview decision making from interview to offer.
The Pandemic is most certainly a factor. The biggest leavers were in the hospitality and retail industry, but the Bureau of Labor Statistics suggest this is an across the board increase of employee leavers included:
- They liked the life balance and chose to transition to full time or hybrid working from home. They preferred not to return to an office to do the same work they were doing from home.
- They did the Telework Math Calculations and liked the time, money, and environmental benefits of telework, when compared to both the time otherwise been wasted commuting to and from the office to join the same calls they were already doing from home during COVID.
- Were able to re-invest commute time hours into new skills development, self care, health and professional development, family obligations and their children’s education.
- During the pandemic 97% reported that they experienced a greater sense of wellness, were more productive and able to avoid frustrating interactions with office gossip from irritating colleagues.
Top Flexible Work Headlines
The Big 4 thought leader, Price Waterhouse (PWC), made Global News by allowing 40,000 of its 50,000 member United States Workforce to work from home, anywhere within the United States. PwC adopted a Hybrid model in March 2021, while studying the best options to lead through the pandemic hiring challenges.
Price Waterhouse used sound research and data driven decision making. They found from a recent PwC employee survey that 65% of all US employees are looking for a new job, and 88% of executives were seeing higher turnover than normal. Adaptive strategy and quick leadership, PwC elected to adopt a more flexible work policy to expand the market place talent pool and better retain talent and attract a diverse workforce.
Price Waterhouse had studied what it takes to attract and retain the best, to promote employee satisfaction and to be the place where the industries best talent choose to be. They added to the mix a “gamify” career benefit called the Digital Fitness Assessment to make sure their employees receive continued development and agile work experience. PwC launched the Trust Leadership Institute, to empower its more than 10,000 business leaders to make responsible decisions.
Top Human Resources Employee Retention News
Turnover is an incredible 25% lower for companies with remote work options experience on average Continuing Work from Home Options where possible has proven more than a retention tool! It has benefits for employer and employee. Love this Infographic by Email Analytics on the topic!