Chris Russell

3 min read

Human Resources

The Great Resignation Wave

The Great Resignation Wave became a meme in 2021 and is poised to stay in the news as we head into 2022. There are lots of reasons for this trend. And after holiday bonuses are paid out in the new month the resignation will become even bigger, experts predict.

A new report from GoodFirms, entitled “Who Can Stop This Unstoppable Great Resignation?” uncovers the reasons for the mass exodus of employees in the as the pandemic continues. The research reveals some of the most shocking trends and employee work-life metrics leading to the great reshuffling.

“Pandemic’s greatest impact on the business world was ‘shift to remote work.’ The pandemic afforded unprecedented flexibility. People accustomed to it cannot fathom returning to work from office mode. Therefore, inflexible employers are struggling to keep up their workforce.” says GoodFirms.

Quit Rates Driving Resignation Wave

Their research also iterates how the attrition rate has increased in the pandemic era, with most employees quitting voluntarily. 4.4 million quit in September. This wave shows no signs of slowing.

Life shocks, acquiring new skills, desire for upward mobility, and changed priorities are some of the elements driving the great resignation. The research also dives deep into how vaccine mandates from employers and fear of infection are affecting employee psychology.

The research concludes with a commentary on how the great revolution mirrors the worker’s revolution in the newfound world. Employers that wish to retain their workforce will have to go the extra mile to survive amidst the biggest turnover in the modern business environment. Companies will have to restructure their compensation plans, rethink recruitment, invest in the human resource management systems (HRMS),  strategize employee well-being programs, implement flexible work models, and allow employees space to create a better work-life balance.

A Great Re-imagination

“Whatever the trigger may be for this great resignation, the market will soon witness an improvement in the work world, and workers are likely to bring the best out of them, crafting a career that best fits their lives. It is surely a great re-imagination,” concludes GoodFirms.

Here’s the key takeaways from the GoodFirms data:

  • Pandemic changed employee perception and compelled employees to rethink their priorities.
  • 33.7% of employees still want WFH(Work from Home)
  • 21.2% of employees are planning to quit their jobs while 29.8% are not sure about it
  • 37.50% of employees fear infection while working from the office
  • 21.1% of employees think their current salaries are not enough
  • 25.9% of employees remain discontent with their increments and promotions
  • 21.1% are not happy with career development opportunities
  • 19.2% of employees are indignant about their managers’ role and behavior towards them.
  • 30.7% of employees cited frequent stress and work-related burnout
  • 23.08% of employees are struggling with mental depression
  • 17.31% of employees think they can do better if they leave the current job

There is a sudden talk about the flexibility in work hours,  mental health, and well-being equations. Workers are craving flexibility in jobs. Prospective hires and employees are now negotiating more easy-to-handle work hours and shunning companies with a rigid job hour policy. If you can’t offer flexibility in your roles you are going to lose out on the best talent.

Other data shows that many employees are also quitting to work for themselves. Since 2018, new business applications filed per week averaged 67,000, but that number has skyrocketed to 100,000 new business applications per week since June 2021. A lot of folks want to take control of their lives and be their own boss.

I expect employers to do the following in 2022 to help counteract the resignation wave;

  • Increase salaries and hourly wages for incoming workers while also incentivizing employees to stay.
  • Increase flexible work options, such as hybrid, fully remote or flexible hours for new hires and existing staff.
  • Increase recruitment advertising around job vacancies.

Chief People Officer, Amy Zimmerman of Relay Payments told me that she thinks the biggest challenge with hiring right now is that there are so many companies doing it. Strong candidates have more options now than they probably ever have before. Employer brand has never been so important and differentiating. Hiring teams need to approach the process by putting their best foot forward — there’s no margin for error. The companies who present strongest will attract the best candidates.

She thinks the challenges will continue into this year. “As long as the job market is as hot as it is and companies aren’t doing the work it takes to retain, the struggle remains. Companies who are intentional about their cultures, invested in their peoples career growth, and differentiating in the market are generally not the ones losing above average number’s of team members.”

The pandemic has taught them a lesson about controlling your career path. I think this period is a sea-change in the mindset of job seekers. Of course a recession could put the brakes on that but even if we get a slowdown, I don’t think job flexibility is going to disappear from job hunters radar. It’s the next great benefit.

About Emissary

Emissary is a candidate engagement platform built to empower recruiters with efficient, modern communication tools that work in harmony with other recruiting solutions.

Book a Demo

Stay in the loop!

Subscribe to our bi-weekly newsletter and keep up to date with the latest Recruiting and HR tips and trends.

By clicking send you’ll receive occasional emails from us.

Ready to speed up your hiring process?

Start texting candidates and get better results today.
Book a Demo