How fit is your business to weather The Great Resignation storm? The seven warning signs and how to respond
Dora Timar, Senior Manager of Recognitions and Frameworks, City & Guilds reflects on the Great Resignation trend and how to put into place strategies to drive staff engagement and retention.
09 March 2022
The term ‘The Great Resignation’, also known as ‘The Big Quit’, was initially described in the US by Professor Anthony Klotz, in May 2021.
He predicted that masses of people will resign from their jobs in the US, despite the skills shortages and high unemployment created by the pandemic. Interestingly, not only did people start leaving their jobs, but – as the pandemic has continued – people were leaving their jobs in even larger numbers.
The big questions on all employers’ minds are ‘Why are they leaving?’ and ‘Where are they going?’
Some of the answers are easier than others. There are many reports and statistics showing why people are leaving. Low pay, technology, lack of progression opportunities, flexible working practices and burnout are usually among the top reasons.
And these analyses are all useful to help inform workforce strategies.
The more difficult question for employers is ‘What can I do to keep them?’
As a global organisation specialising in skills development solutions, we see companies around the world facing these questions every day. We also hear success stories of how organisations are weathering the Great Resignation storm and coming out on top, winning.
So, we have pulled a brief guide together to help organisations spot the warning signs that the Great Resignation may be about to hit their business, and to share the strategies and approaches that have helped other companies turn the Great Resignation into the Great Retention.
There is no magic wand that will solve all of the challenges, but there are simple and effective steps that any organisation can take to help fix workplace challenges and make their business future fit.
The underlying theme, as outlined in our guide, is that if you live your purpose, look after your people, your business can flourish. Simple concept, but it takes strong and dedicated leadership and some investment to implement it well. The good news is that it does pay off.
Download the guide