Page 61 - BusinessWest October 27, 2021
P. 61

 Coping
with
the ‘Great
Resignation’
Companies Need to Understand What Matters to Job Seekers
YBy Sarah Rose Stack
ou’ve just woken up. As you sip your morning coffee, you open your e-mail and give it a quick glance. Wedged in between your work and personal mail, you have several e-mails with the subject line ‘We’re Hiring’ or ‘Join Our Team.’ You switch over to social media and see that your neighbor just announced she’s left her place of employment
for a new opportunity. There are few more posts from friends who are frustrated with their employers’ lack of communication or insistence on returning to the office.
How many ‘We’re Hiring’ signs have you seen or talked about today?
There has been much discussion about the current hiring crisis, and while many thought that this would be resolved once Pandemic Unemployment Assistance ended, that has not been the case. In fact, the Bureau of Labor (BOL) recorded the highest number of people who quit their jobs in August 2021, with 2.9% of people quitting (4.3 million people). This is the highest number of quits since the BOL started recording this data in 2000. Probably even more concerning is that August was the sixth consec- utive month of massive quitting numbers.
Coined the ‘Great Resignation’ by Anthony Klotz, a professor at Texas A&M, people are leaving their jobs at record-breaking rates as the pandemic is waning. This is only expected to be amplified as 2021 comes to an end and people reflect on what they want in life. Employees are demanding more from their current and potential employ- ers. Companies should be very careful to pay attention to the change in dynamics if
Employment
  EMPLOYMENT
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