Is it The Great Resignation or The Great Attraction?
Everyone’s talking about The Great Resignation and its ripple effects for recruiters and talent acquisition professionals across the globe, but is that the full story?
From the BBC to The Guardian, Harvard Business Review, Inc and a range of other publications, The Great Resignation is being debated across the web, well beyond our usual recruitment spaces.
We first discussed The Great Resignation in June and quoted a now well-known Microsoft report which found that 41% of global workers are contemplating handing in their notice.
Since then, we’ve seen a wealth of reporting on the worrying trend, with many experts predicting the economic fallout and recruitment ramifications of The Great Resignation.
But are we approaching this in the wrong way? Is it The Great Resignation or is it actually The Great Attraction?
Many companies are struggling to understand the core issues of this shift, and some will continue to struggle simply because they don’t really understand why their employees are leaving in the first place.
As companies struggle to understand what is making employees leave and what they gravitate towards, it creates a real challenge for businesses to attract the talent they need.
Businesses need to examine what they offer, how they differentiate themselves from other employers and how they attract and retain quality employees.
In its reporting, the BBC summed up this issue well: “For some workers, the pandemic precipitated a shift in priorities, encouraging them to pursue a ‘dream job’, or transition to being a stay-at-home parent. But for many, many others, the decision to leave came as a result of the way their employer treated them during the pandemic.”
They backed this up with analysis from Alison Omens, chief strategy officer of JUST Capital, (a research firm that gathered data for a recent Stanford study) who states: “Our data over the years has always shown that the thing people care about most is how companies treat their employees.” The ways employees measured this ranged from wages to benefits and security, opportunities for advancement, safety and commitment to equity.
Companies across the globe should see The Great Resignation as a clear wake-up call: invest in and care about your employees and you’ll attract and retain top talent.
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