Around 41% of the world’s workforce want to quit their jobs and many have already quit, as per recent surveys. Attrition rate is rising at an alarming rate and the job market is evolving like never before. After surviving a pandemic, it was expected that employees would settle for stability as many had already lost their jobs in the wake of it to combat uncertainty. But the world is flabbergasted to witness an entirely different scenario of people willing to take major risks to fulfil their needs at any cost.
Organizations and the workforce are going through conspicuous changes as a historic exodus in the name of ‘The Great Resignation’ has literally shaken the base of many flourishing industries today.
What was it that changed the course of the employment scenario so drastically?
The ‘new-normal’ in the pandemic situation has given impetus to the rising trend of mass resignations across the world. There has been a seismic shift in the global work culture. The COVID -19 pandemic began with mass termination across the globe, followed by forced isolation. As the majority of the workforce was compelled to work from home, they initially struggled to strike a balance between their office work and daily chores. Once they learnt to become self dependent, they discovered new possibilities of securing a better work-life balance.
As the world began to recover from the pandemic, organizations retreated to their pre-COVID norms and wanted to bring back their employees to office; they objected and started looking for more feasible options. Employees contemplating resignation are cognizant with the policies of their organizations which do not align with their goals anymore.
The phenomenon of The Great Resignation has posed an enormous challenge on the workforce as well as the organizations. On one hand, organizations are failing to leverage loyalty of their best employees, and on the other hand, the employees have to deal with a transition which can be quite overwhelming for them.
Organizations need to be more adaptable to the needs of their employees and create more camaraderie among their workforce. Building a strong team and assuring long term growth of career in the organization may be more convenient to retain employees in such a situation. Leaders should be vested with the task of developing strategic management systems for creating an incumbent work environment.
Employees who have switched jobs or started their own businesses have entered a world of ephemeral uncertainty that may take a while to deal with. One needs to to introspect their self worth from a different perspective to perform their new roles with due diligence.
My project called Self-incubation has been designed specifically to guide organizations and entrepreneurs explore their potential and take necessary steps to manage formidable situations. Come, be a part of this journey and find out what you are truly capable of.