Are you ready for the ‘Great Resignation’?

Business owners and managers, it’s time to brace yourself for The Great Resignation.

While there have been many frustrating elements with Australia lagging behind the rest of the world and being slow to reopen, there have also been some clear advantages.

One of which is watching how the world has emerged from the pandemic.

Initial stats out of America suggest that between 40 – 50% of employees have either left their job or are actively looking for new work opportunities. This era is being coined ‘The Great Resignation’ and guess what? It’s about to hit our shores!

There are many causes behind The Great Resignation including:

–       Employees feel disconnected from the business due to lockdown and are struggling to reconnect and find the passion they once had. Disconnection leads to trust erosion which is something that is hard to rebuild & can spread like wildfire throughout an organisation.  

–       Employees have had time to reflect on what really matters to them and want to pursue a career that is more meaningful or more in line with their new life goals. Many have used this time to retrain or skill up, so are ready to make the move.

–       A lot of people are angry. Angry about the disruption to their lives, angry about the stresses of home-schooling and angry about not being able to go anywhere. In many cases, this anger is being targeted towards their managers and has added to the Great Resignation.

–       The natural delay in churn which would have happened organically over the last two years is happening all at once throwing businesses into a state of chaos.  

On top of the above, employee wage expectations are set to increase and with Australia in a state of negative migration employees have the upper hand here. Just something else to look forward to!

Over the next little while, we will share our top tips on how you can combat the Great Resignation, future proof your business from the associated chaos and get your relaunch off to a flying start.

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