A Post-Pandemic Resignation Boom Has Arrived: What to Do?
As the market heats up and talent demand skyrockets, many people feel empowered — and in some cases, they feel empowered to quit their jobs. Associate professor of management Anthony Klotz of Texas A&M University predicts a “resignation boom” as offices reopen after the pandemic.
Prudential’s Financial Pulse of the American Worker survey predicts that as many as 25% of workers will quit as they’re called back to their pre-pandemic positions. On top of that, 42% of employees consider leaving if they don’t offer remote working options.
With executive recruiting possibly about to become difficult, what can employers do to counter this sudden trend and protect themselves against this post-pandemic resignation boom?
The Reasons Behind the Post-Pandemic Resignation Boom
Workers have a lot of reasons for their possible resignations. According to Prudential, 80% have already decided to change jobs because they want to advance their careers. More than 50% of people considering making a change developed new skills during the pandemic and may want to put their unique skill sets to work elsewhere.
The pandemic changed people’s attitudes and expectations regarding work, and workers have grown to appreciate the ability to work from home. Half the people who worked remotely during the pandemic want to continue remote work, at least part of the time, and many are prepared to quit if they can’t do so.
In addition, many people expect to leave their jobs because they’ve had time to think about their lives profoundly and are responding to changed priorities. Others, especially women, have been pulled out of the workforce to care for family members. Some people have reprioritized their families and want to spend time with them rather than commuting.
In addition, the pandemic gave some people the opportunity to pursue their passions — and now they may want to turn those passions into entrepreneurial ventures. And many younger workers are tired of staying indoors and wish to seek adventure with some of the money they saved over the past year.
Tips for Employers to Deal with the Resignation Boom
With all these employees ready to turn in their office keys, what’s an employer to do? Here are some tips for retaining the employees you need and thriving in the post-pandemic employment economy:
· Re-establish a sense of connection. Many employees feel disconnected from their work lives, even if they’ve stayed on the payroll through working at home. Take this moment to realign your company culture toward healthiness and reach out to the employees you need most.
· Offer flexible working arrangements. Almost half the surveyed employees are saying they want to continue flexible, work-at-home arrangements in some form. That means you’re more likely to lure your people back if you offer those options proactively, allowing people to split their time between the office and a remote location.
· Create an upwardly mobile path. Many returning employees are concerned about their futures after more than a year at home — and as remote work increases, executive recruiting firms will have more options to offer. Create paths to help employees gain new skills and achieve promotions.
· Keep the lines of communication open. The pandemic has caused a lot of financial anxiety. Let your employees know what your plans are regarding reopening, vaccination requirements, and flexible work arrangements so they can make sound decisions about returning.
· Reach out to employees who want to leave. If a valued employee announces they’re leaving, ask if they’ll come back for a month or so before they make a final decision. They may need transition time.
In addition, stay in touch with employees who do leave, as they may soon realize they miss their jobs and want to “boomerang” back to their offices. The shift back to work may be difficult for some, but by paying attention to your employees’ needs, you should be able to stem the post-pandemic resignation boom.
By Fernando Ortiz-Barbachano
President and CEO of Barbachano International (BIP),
The Human Capital Solutions leader in Mexico, Latin America, and the USA, offering high-impact executive search, executive coaching, and outplacement.
About Barbachano International
Barbachano International (BIP) is the premier executive search and leadership advisory firm in the Americas (USA, Mexico, Latin America, & Canada) with a focus on diversity and multicultural target markets. Outplacement and Executive Coaching services are provided by our sister allied company Challenger Gray & Christmas. Since 1992, BIP and its affiliates have impacted the profitability of over 50% of Fortune 500 Companies. BIP has been recognized by Forbes as Americas’ Best Executive Search Firms and currently ranks #26 and #3 on the West Coast. Headquartered in San Diego, California with satellite offices in Florida and Mexico. As member-owners of NPAworldwide Recruitment Network, we are supported by partner offices in over 50 countries.