What is Driving the Great Resignation

FromtheDeskoftheCEO

Now that the holidays are over and your organization is wrapping up yearly performance evaluations and bonuses, will HR leadership have to worry about employees heading out the door?

 

HR leadership must counter this possibility and focus on the happiness of the employees and their consistent productivity. Doing so might require the deployment of cutting edge or disruptive HR practices to continue motivating the current workforce. Regardless of the approach, swift action is necessary now because competitors will not hesitate to lure your most competent talent.

 

Here are some compelling indicators:

  • According to Fortune magazine, in September 2021, 4.4 million Americans quit their jobs at the same time there were 11.2 million vacancies available.
  • A CareerArc/Harrods poll suggests that resignations will increase in 2022. It reveals 23 percent of employed Americans will quit their jobs over the next twelve months.

Will your organization be ready to manage such scenarios? One way to do so is to immediately refer to salary surveys and determine the cost of replacing full time employees in industries similar to your own. Use this data to implement innovative ways to offer long-term incentives as a deterrence for employees to think twice about leaving for another opportunity.

 

Happy New Year!

 —Amy Dufrane, Ed.D., SPHR, CAE

HRCI CEO 

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