The great resignation: Five things Aussie firms need to incorporate now!

Highlights

  • Post COVID-19 pandemic, it has been estimated that 40% of the global workforce will change their jobs in 2021.
  • In the United States, millions of people left their jobs in April 2021, which is the highest number since December 2000.
  • The expert from A&M University Texas, Anthony Klotz, states that the wave of resignation can hit Australia by March 2022.

The ripple effect of the COVID-19 pandemic has been observed in the job sector. It has been estimated that 40% of the global workforce will change their jobs in 2021. In the United States, millions of people left their jobs in April 2021, which is the highest number since December 2000.

Australian HR platform provides data indicating that 40% of the workforce will consider changing their jobs in 6 months, and 15% have already started looking for new roles.

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The expert from A&M University Texas, Anthony Klotz states that the wave of resignation can hit Australia by March 2022. The tentative reason for great resignation is that employees are now looking for a more meaningful life and question their current position in the market.

Considering the wave that will hit Australia in a few months, let’s look at some actions companies can undertake to convert the threat situation into an opportunity.

Connect with employees

Post pandemic, the employers might assume that workers will return to work as nothing has changed in the last 18 months. But employees are questioning the same, that why they have to spend hours commuting if they have been productive during work-from-home. The employees do not want to lose the flexibility they enjoy while working from home, and it has become their minimum expectation.

Dissatisfied employees

Image source: © Joykid9940 | Megapixl.com

Even job advertisements highlight the flexibility of working from home, a perk that was no one talked about earlier.

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With economy reopening, the human resource department should talk to their employees and understand their preferences to avoid resignations. Some may show interest to work from the office, and some will be reluctant. The management will get an idea about what employees want and can frame a strategy accordingly.

Create a brand

Companies should consider investing in brand building to retain employees. To do so, the human resource and marketing department can ask the employees to come together and uphold the company’s values and then measure the impact.

The companies need to convince employees to become brand ambassadors, thus establishing a connection between the brand and employees. The company needs to ensure the employee’s growth and provide them with recognition or enough working space.

Be the company employees want to join

The great resignation can also be interpreted as a situation in which the talented workforce is on the move and is looking for better prospects in the job market. Fresh perspective and new energy are bought in by the new talent, therefore, it is important to become a better business and ensure the entry of new people. Rather than fearing the great resignation, the organisations should buckle up their hiring department and bring new talent on board.

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Maintain work-life balance

The resignations are not coming just because of low salary, or work pressure or employees are asked to join regular offices, but employees have started thinking about the role of job in their lives. Employees do not want to be looked at as workers but as humans who are looking for enriched life experiences.

work from home, satisfied employee

Image source: © Spilolla | Megapixl.com

Related article: The Great Resignation: How employers can entice quality employees

Unleash individuality

A survey by Forbes highlighted the reasons that are responsible for creating the situation of great resignation. It includes the feeling of being unaccomplished, not learning, looking for new challenges, and doing something different. Thus, to retain the talent, the companies should look into these factors.

The organisation system should be designed to acknowledge the presence of the employees, the work of employees, and the way work is done. Companies are required to get in the habit of actively identifying the sources that are impacting individual employee mental health and adopting practices that will bring out individuality.

 

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