The Great Shuffle – The Impact Of COVID On Resignations And Workplace Turnover

The COVID-19 pandemic has had a major impact on all our lives. However, one of the most significant effects has been felt in the job market.?

?As we are now recovering from the global health crisis, the media is full of news about “the great resignation” – unprecedented numbers of employees leaving their posts to move to new pastures.?

?Of course, those workers aren’t quitting their jobs without new ones to take up, so perhaps the phenomenon should more appropriately be known as the “great shuffle,” with staff members leaving companies in droves to move to new organisations to take up different employment opportunities.?

?So, what is this trend all about, and which companies are set to be the winners and losers when all of the shuffling is complete??

?Workers Are Seeking Greater Fulfilment

?Perhaps the primary reason behind the “great shuffle” is the desire of workers to find greater fulfilment in their employment. COVID’s many lockdowns have led to employees having to spend more time at home rather than in the workplace, giving them a greater sense of perspective about their roles.?

?Rather than being blinded by the daily grind, they’ve had the chance to step back and evaluate their work/life balance and their work environment and determine whether or not they’re truly satisfied in their current position.?

?Of course, it appears that many staff members were not and have used this opportunity to take a proactive approach to seek new and more fulfilling work with a company that is a better fit for their needs.?

?Companies Competing To Attract Top Talent

?As companies have begun to recognise this new trend, they have had to work harder to compete and attract talent to replace the staff members who have resigned. Those who can often offer higher salaries post-COVID to persuade the most skilled workers to apply for their vacant roles.?

Others are taking this opportunity to offer attractive incentives and a better work/life balance for employees so that they can retain their existing skilled team members while also winning over the most highly qualified and experienced applicants to join their ranks.?

?It’s clear that there is a greater need than ever before to come up with effective methods of recruitment and retention, or companies will be left behind.?

?Capitalising On Today’s Opportunities For Growth And Development

?Although the “great shuffle” is causing problems for some companies, organisations that are prepared to take a proactive and positive approach present some excellent opportunities for growth and development.?

?With the right insights, analysis, and strategies, companies can capitalise on the potential that the “great resignation” offers to bring in new and more productive team members and expand at scale. With the right?labour market analytics, companies can make well-informed decisions and take effective actions that will enable them to profit from this new trend and emerge from COVID with renewed success.?