The Great Resignation
Aside from changing the way we live, COVID also changed the way we work in ways we could not anticipate.
Remote working has become the norm in most industries, whereas others opt for a Hybrid model instead, reducing overheads in the process.
It started in the USA: as companies started going back to a pre-COVID model of working hours, employees were no longer happy to spend hours commuting to and from the office. Instead, they opted to resign and look for better, more flexible working hours with companies that focused more on staff well-being.
Like any good Armageddon movie, it was the catalyst for a chain of events, but mostly focused on Corporate America: staff leaving en masse with the concomitant economic impact, seconds behind.
Interestingly enough, South Africa’s own resignation wave is less drastic, but an unemployment rate of 33.90% is possibly forcing unhappy employees to think twice. However, adding the current Brain Drain underway, along with skilled artisans leaving for more lucrative pastures (e.g. $180/hr for a qualified welder with his own equipment in the USA), and it becomes clear that we, as employers, may soon be facing a more dire picture altogether.
Interestingly enough, companies that are focused on Talent Optimization are almost twice as likely to avoid the financial impact of multiple resignations.
Having the right employees in the right positions with clear expectations of their deliverables can help your company avoid costly, time-consuming recruitment processes.
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