The ‘Great Resignation’ trend has seen huge increases in employees resigning. So why is this happening and what can you do to stop it?
- 354,000 job resignations took place in the first quarter of 2022
- Many employees are resigning due to a lack of flexible working options
- Companies need to adjust their working conditions and focus on engagement to help retain employees
Research from Barnett Waddingham shows a massive 85% of businesses are feeling the pinch as a result of the ‘Great Resignation’. A survey among senior decision-makers found that just 15% of companies felt they had not been affected by this surge in resignations. To compound the issue, almost a third of those affected said the struggle to find a recruit talent had led to an impact on employee wellbeing. 31% noted it had led to burnout in the team and 20% felt that it had led to unreasonable workloads for team members.
This trend does not appear to be slowing down with job vacancies rising to record levels and the first quarter of 2022 seeing a record 350,000 resignations take place in the UK.
Why Employees Are Resigning
So, where has this trend come from and why are so many employees deciding to move on from their current roles?
One of the key reasons behind the ‘Great Resignation’ trend appears to be employee dissatisfaction with their employers' flexible working policy. The research found that 59% of resignations were for this reason. The pandemic forced many into a remote or hybrid working situation and for many people, this way of working has proved to be much more beneficial.
The cost-of-living crisis also plays a key role as many struggle to deal with rising bills. This can be partly linked to the demand for flexible working as employees want to save money on childcare or transport but also could suggest that employees are looking to increase their earnings by moving onto a new role rather than gaining a pay rise in their current role.
What You Can Do To Stop It
Companies need to change their approach and keep up with the speed of changes in employees' expectations. Control has shifted to employees and so employers need to consider what is important to their teams and what they can do to encourage more loyalty. This clearly involved offering flexible working arrangements to cover a mixture of remote, hybrid and office workers. Companies also need to look at their culture and benefits package. Employees want to feel like they are cared for and that they believe in the vision and values of the organisation. Engaging with employees to make them feel part of the company and that their role has value will help you retain your top talent for longer.
Let Us Help
If you have suffered through the ‘Great Resignation’ and are looking to recruit, then we can help save you time and money while attracting the best talent.
Book a 5 minute demo with our team to find out more.