Make the “Great Resignation” Work For You

The sign outside said; “We all quit. Sorry for the inconvenience.”??

Employees of a Burger King in Lincoln City, Nebraska, changed the sign on their drive-through to read “We all quit” and then resigned. According to reports, the sign, which began as a joke among the employees turned into reality when they realized that with the end of the pandemic insight, and vaccinations on the rise, they no longer had to work a job they were unhappy with. They chose to quit and look for opportunities elsewhere in a job market that is swinging increasingly in favor of job seekers over employers.??

They are not the only ones. Similar signs have been popping up in restaurants all around the country. Employees of a Wendy’s in Wadesboro, N.C, posted a “We all quit!” notice outside their store window and walked out. Elsewhere, management at a Hardee’s decided to shut shop because they couldn’t find enough employees to carry on operating. A Chipotle in?U.Penn?had to close its doors because both management and crew decided to resign?en?masse. A dollar store in Maine, a Taco Bell in West Virginia, up and down the country, employees are walking away from jobs in search of new opportunities.???

This phenomenon isn’t limited to low-wage, high-turnover industries like fast food and retail either. White-collar workers are feeling empowered to switch jobs as well.?Polls indicate?that nearly 40% of white-collar employees say that they would rather change their jobs than stop working remotely. Even highly sought-after employers like Apple are facing the prospect of resignations and labor shortages causing some panic and hasty policy changes. Software engineers, especially in DevOps and cloud computing related roles, are choosing to turn freelance, offering their services from the comfort of their homes.?????????????

In what is shaping up to be one of the most significant labor movements of the 21st century, employees are coming to realize that the balance of power in the job market is beginning to tilt in their favor. A year of working remotely has shown a lot of people that their jobs can be performed efficiently from places of comfort and the need to commute to work every day may be over-rated. For others, living through the trauma of a pandemic has made them reassess their priorities and their life goals. Whatever their motivations may be, employees around the world are looking for new opportunities and, if the studies can be believed, over 40% of the global workforce is actively considering a change in employment.????

Should employers be worried???

Some are. A McDonald’s right here in Illinois has decided to offer staff an iPhone as an incentive for staying around for more than six months. Another in Tampa, Fl, has been offering a $50 reward to candidates just to show up for an interview. Apple, GE, Microsoft, and many other big employers are reconsidering company policy and organizational structure to match the needs of an evolving workforce. But, in my opinion, looking at this ongoing evolution as a total negative is extremely shortsighted. There are definitely downsides to large-scale resignations. The amount of investment it takes to hire and train new employees is considerable. In the short run, it also negatively impacts your ability to operate at a 100%. But that’s not the whole story.??

A chance to introduce new blood???

If employees are leaving in large numbers, they are also entering the job market in large numbers. This influx can be a good opportunity to introduce some fresh talent into our teams. New hires coming from in-demand roles at reputable organizations looking for something new. This is the time to take another look at your team and spot skill gaps. Is there a particular new skill you want to add to the team? This would be the time to recruit and infuse your workplace with new perspectives and ways of operating.???

Turnover can also be a sign of cultural growth at your organization. As your organization grows, your employees will be met with new challenges. Some employees meet these challenges and continue to fit the culture as they grow with the company. Employees who don’t meet the challenges will eventually fall out of sync with the company culture and look to set goals for themselves that may not align with the direction in which your company is growing. In such circumstances, a parting of ways is inevitable and ultimately better for both.???

An employee—no matter how talented—who doesn’t contribute to business growth or match with its culture and vision, will not perform for the organization and will not be happy in their role. You are better off working with individuals who may not have the perfect alignment of experience and skill set but who are more invested in your company’s vision, mission, culture, and goals. The Great Resignation can be an opportunity to restart and recruit the type of employees you want working at your organization, who are seeking new challenges and have the potential to succeed on your team.??

I recently had to part company with an employee at PTP. Shankar was a highly talented software developer who had been working with me for some time and had expressed interest in growing with the firm. Still young in his career, he recognized the changes in the job market and he wanted to look at the opportunities out there. He ultimately chose to leave after thoughtful consideration. Though his departure affected us, I was happy to bid him farewell for three reasons— first, it is my duty as an employer and mentor to encourage young talent to follow their instincts and allow them to grow; second, a dissatisfied employee can never be a productive one; third, by parting on good terms I had created an ambassador for PTP, someone who would be a valuable alumnus of the organization to other potential hires. By choosing to make the best of an unfortunate situation I was able to turn PTP's loss into a growth opportunity.???????

Take stock and plan for the future??

Hidden inside every crisis is an opportunity to grow and this shift in the job market is no different. While it may be tempting to panic and overinvest in short-term strategies to boost employee retention, you’ll be better off taking a hard look at current strategies and planning around long-term goals. Some of the ways you can do that are:??

Take a look at your model of operation:?According to researchers, one of the main reasons for this upcoming exodus is the unwillingness of employers to explore hybrid and remote working options after the pandemic. Invite your employees to express their opinions and contribute to potential future plans for the workplace. Having a strict workplace model imposed on employees without consultation might cause resentment. Including them in the conversation given employees some measure of control over the decision and also lets them know the path the organization is on. Additionally, active collaboration will make your employer brand more attractive for future hires.???

Expose the cracks:?High-performing employees leaving can be a sort of stress test for your organization. How well developed are your operations and organizational structure? Can it handle a key employee’s exit? Or will it become vulnerable? This is also an opportunity to take a closer look at how well integrated the departing employee was within your organization. Since the individual with the best understanding is leaving, you’ll have to step in and take stock of the work being done by them. You might find cracks you didn’t know existed because they never came to your attention or were being handled by the former employee.??

Create new opportunities within:?Vacancies don’t have to be filled externally. Encourage your employees to apply for open positions around your company. It will give them a chance to grow and build on their resumes, while also letting you identify potential leaders in your organization. Employees willing to step up are worth investing in, in the long term. If you set a precedent for promoting from within, people are also less likely to look outside the company for career growth. It’s great for morale and has a positive ripple effect on employee engagement and retention.??

Conclusion??

I think this oncoming labor crisis can be the catalyst by which you can take stock of your relationship with your employees and introduce some essential reorganization to your corporate structure. It is a chance to acquire upskill your organization, augment teams with new talent, and refresh your company culture with new perspectives and ideas. It can also be a good time for you to take stock of your organization, spot flaws, fix cracks, and promote from within. We know that big changes in the labor market are headed our way. Why dwell only on the challenges? Keep an eye on the silver lining and use this as an opportunity to learn and grow.??

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