5 Great Resignation Responses Of Leaders
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The Great Resignation is a phenomenon backed by data. While the workforce leaves at record rates, professionals show they have made a choice. As leaders, you have a choice to make: how will you respond? What can you do in your organization to create a better workplace that attracts and retains talent?
This week, I hosted a Great Resignation Roundtable on LinkedIn. We have had expert guests at the roundtable from WorkHuman, and from Aible. These leaders shared their insight on what we can do to respond to the challenges brought about by the Great Resignation. Our audience was equally engaged in this lively discussion about the meaning of “better” for the workforce.
The Great Resignation Is More Than A Buzzword
The Great Resignation is more than a buzzword. Here are some figures to get the dimensions of this phenomenon:
- More people have left their job in April than any other month this year per the Bureau of Labor Statistics and the record has been broken every month since then.
- In October this year, we also reached a new record high of 11 million job openings. The U.S. job market now has almost 5 million more open positions than job seekers.
- An article in WIRED magazine stated that for the tech industry, this could be called “The Great Reconsideration” instead where workers reconsider the importance of pay against gains of flexibility or more spare time?
- The Harvard Business Review states that resignation rates are highest among mid-career employees (30–45 years) and in tech & health care industries.
- A survey by Korn Ferry found that over 90 percent of retailers are struggling to fill empty positions, even though nearly one in three offer sign-on bonuses and another third have instituted paid referral programs. Amazon announced this week that they are
- Reasons stated across the media for resigning is looking for “better”, meaning:
- getting better pay and perks
- better culture
