The workforce is in a frenzy right now in the U.S.
Millions of people are voluntarily quitting their jobs and employers all across the country are having trouble finding workers.
What do the numbers say?
The Labor Department latest Job Openings and Labor Turnover report estimated a record high of 47.4 million workers voluntarily leaving their jobs in 2021.
More so, it was reported that a record monthly high of 4.5 million workers quit their jobs just in November 2021.
In addition, one market report found that nearly three quarters of workers are actively thinking about quitting their job.
With no end in site to this “Great Resignation” trend, many researchers are trying grasp why workers are leaving their jobs in such mass numbers.
Contrary to what many would assume, even with the increased cost of living, two-thirds of workers left their place of employment for reasons other than pay.
So, what are some reported reasons why workers are quitting their jobs. They include, wanting remote work, wanting more work/life balance, switching careers, to unhappiness on how their employers treated them during the pandemic.
In my opinion, these reasons do not capture the true essence of the problem.
I believe that the Great Resignation ultimately boils down to workers not feeling valued by their employer.
For so long, employers have overworked its workers to the point of burnout.
Employers have treated its workers solely as a means to an end for their bottom line.
Employers have demanded loyalty from their workers, but have not been loyal, nor even supportive of the needs of its workers.
Without question, employers turned a blind eye to the fact that the employer and employee relationship is just that, a relationship.
For any relationship to thrive, both parties must have their needs met.
Human psychology shows that when a person’s emotional needs are neglected in a relationship it leads to tension and exhaustion.
I believe that all of this negative emotion was already permeating the workforce and the pandemic was ultimately “the straw that broke the camels back.”
Workers have now reached a breaking point and are responding by walking away.
This is supported by Gallup’s research that found that 42% of people quit their job due to how they felt about their employer’s organizational culture.
With employees leaving their place of work in droves, there has been a power shift in the workforce.
It’s now an employee’s market.
If companies want to re-attract workers, they must adjust to the evolving workforce.
What should employers consider to accomplish this task?
For starters, employers could humble themselves and accept the fact that they are nothing without people.
In other words, they can show that they genuinely value their talent not just in word, but in action. Whatever that looks like for each individual company.
Second, it would likely be advantageous to foster work environments that are supportive and decreases the likelihood of worker-burnout. For example, make employee mental health a top priority.
Lastly, employers might want to consider incentivizing loyalty. For years, companies have gotten away with demanding blind loyalty simply because they are XYZ company. This is no longer enough for employee retention.
Employers must now do more. For example, employers could consider offering more competitive wages to adjust for the rising inflation rates, offering student loan debt forgiveness, or having remote work/hybrid options.
Essentially, employers must provide meaningful reasons why their workers would not want to leave or jump ship to another company.
All in all, the way people are relating to work has drastically shifted over the past year.
It is now up to employers all across the country to adjust to the times.
And what does this adjustment look like?
By showing that they actually care about its people.
“The Great Resignation is really a Great Re-evaluation. What people are resigning from is a culture of burnout and a broken definition of success. In quitting their jobs, people are affirming their longing for a different way of working and living.” ~ Arianna Huffington