2021 was all about the Great Resignation. Employees were leaving their jobs at unprecedented rates for various reasons. Those from top corporates, IT companies, and smaller firms were quitting across various sectors.
Let’s take a quick look at the key reasons behind the Great Resignation and what companies can do to deal with it.
Studies indicate that the pandemic is the single biggest factor behind high attrition rates. That’s true in the West and in India. The pandemic’s biggest fallout was the worry over health issues. Now more than ever, people were sensitised to the possibility of illness wreaking havoc. That encouraged most to pursue their dreams or at least insist on working remotely or from home. One MIT Sloan study showed that over 24 million people in the US quit their jobs between April 2021 and September 2021. Many other estimates show that more than 20% of the country’s total workforce seeks better job opportunities that offer better pay, newer challenges, and more flexibility.
While there are several reasons for people leaving their jobs, studies indicate the following to be some of the key ones –
Some other factors included a backlog of employees who wanted to resign pre- pandemic but held on for longer, burnout, major shifts in identities during the pandemic, and an aversion to returning to offices after a year or more of working remotely.
Many people quit during the pandemic, but the situation is far from dismal – it’s just different. There was a steep learning curve for companies but slowly everything is getting back on track. Be as positive as you can to help your employees through these trying times. You’ll be able to accomplish a lot even with these difficult moments keeping you back. Don’t fear anything and implement the above to boost your employees and reward those who didn’t leave.