An alarming phenomenon has been occurring recently across job markets.
If you’ve been following recent events coming out of the global pandemic, you would have come across the term – The Great Resignation.
What exactly does this refer to, and how does it impact labour within the Caribbean?
What is the Great Resignation?
The Great Resignation refers to a shifting trend in the labour market in the US and elsewhere. Large masses of workers have voluntarily left their job posts in unprecedented numbers as industries reopen post-pandemic.
Some industries such as retail, hospitality, customer service, entertainment and transportation have been affected more than others by this mass resignation of people.
The Great Resignation generally describes the pandemic’s effect on the work environment where in the US alone, over 40 million employees have resigned from their posts. Nevertheless, much like the pandemic itself, the Great Resignation is not solely an American problem.
What are key causes of The Great Resignation
Contrary to widespread belief, the Great Resignation did not start as a result of the Covid-19 outbreak. Instead, workplace transformation had already been occurring. More companies and individuals began placing greater importance on work-life balance, mental health, quality of life and time management. A lot of these companies and individuals have been:
Awakened by the pandemic
What pushed the Great Resignation to become a reality was changing and progressing ideas. With the pandemic being the international shockwave that it was, many families began to realise that their highest priorities in life did not rest within the workplace.
Many people learned that their health, the wellbeing of their children, their financial stability and quality time with family were the most important items on their list. This was an eye-opening experience for many people, given that many of them had:
- Relatives in quarantine,
- Family members they could not see,
- Health concerns that were not going away,
- Financial strains, or
- A depletion of their household resources.
As a result, many of these affected families decided life was too short and precious to work in a job that no longer benefitted or fulfilled their needs.
Flexibility was essential
The effects of the pandemic saw many companies adopt a digital approach. This approach provided staff members with opportunities to work remotely. Remotely working gave many persons autonomy over their time, daily tasks, children and also provided a less stressful working existence.
Toxic environments, office politics and poor management styles were essentially dissolved as more people worked from home and achieved a flexible work style that they found appealing. These kinds of work arrangements would have appealed mostly to people who found in-person jobs overly demanding or even obsolete.
Why workers quit during the Great Resignation?
The pandemic had many social, economic, physical and mental effects on the workforce. As a result, many persons within these customer-service oriented fields resigned to:
- Attain jobs that offered flexible work opportunities
- Pursue entrepreneurship – Many persons, particularly those who would have experienced threats to their job security would have resigned their jobs to create their own sense of stability and ownership.
- Spend more time with family – people who would have previously worked over forty of fifty hours a week, now place greater value on being present for their family, instead of chasing money, promotions and financial success. These people resigned to receive more personal time and flexibility,
The Great Resignation is a movement of job swappers, not job quitters. In many countries where vaccines have been widely administered and borders and businesses re-opened, pre-pandemic vacancies are again available. Persons working in jobs just to get by during the pandemic, now have more options to find a position that interests them.
How can companies respond to the Great Resignation?
Companies since have realised, to successfully operate in a post-pandemic environment requires:
A people-centred approach
People start businesses. People manage, run, serve and sustain businesses. Businesses therefore need people to be at the core of operations. Companies presently wishing to attract and retain top-performing staff should adopt a people-centred approach to business. This includes all stakeholders – customers, employees, suppliers and other associates. People are the backbone of businesses and within these times, it pays to place people before profits.
Offer job flexibility and balance
Many staff members today crave a healthy work-life balance. When dealing with employees, within this current climate, it is important to emphasise values such as team collaboration, empathy and productivity. It is critical to also to consider that a satisfying quality of life cannot be substituted with a bigger salary.
Value people
Your team needs to feel that the company has their best interests at heart. Previous generations would have been satisfied with manageable working hours and a reasonable salary. Today, in a post-pandemic world, staff members need to feel support from their employers.
Many companies ought to reduce toxic workplace behaviours, create autonomy instead of micromanaging, emphasize cooperation and ownership, and challenge their staff to be better, smarter and healthier versions of themselves. These attributes can be developed and nurtured through skill training, job enrichment practices, physical and mental health resources and recognition for a job well done.
