Since the pandemic drastically changed the world we live in, people have been reprioritizing what's most important in their lives. As many people re-evaluate their priorities, they have decided to quit their jobs. This mass departure lead to a record number of 10.9 million unfilled jobs at then end of July 2021. And this number is expected to keep growing, as 55% of people reported that they were likely to look for a new job in the coming months.
This substantial number of people leaving the workforce has been referred to as 'The Great Resignation'. In this recent episode of our Back to Work podcast series, Yoh's Vice President of Marketing and Communications, Matt Rivera, and our host, Jason Rocker, discuss why so many Americans are leaving their jobs and what strategies organizations can implement to overcome the challenges of today's Great Resignation.
Listen to the Podcast Below:
Why Are People Leaving the Workforce?
One of the reasons people have been leaving their jobs over the past few years stems from the pandemic exacerbating the feeling of being "in-between" or unsure of what the future will bring. This feeling of uncertainty has people questioning what they really want to do with their lives and where they want to go moving forward. And for some people, they've realized that the job they've been doing is not right for them.
Another reason people are leaving the workforce that Matt and Jason discuss is to focus on their mental health. There's no doubt that the pandemic has negatively impacted most people's mental health at some point, so quitting a job to focus on one's wellbeing has become common. Other people are leaving due to burnout at work. As more positions go unfilled, the remaining employees have to handle a bigger workload which leads to burnout in many cases.
Other individuals have been leaving because they feel a disconnect to their company and colleagues since they aren't working in an office together anymore. Without this connection keeping them engaged, they would rather stay at home, prioritize their health, and spend time with their families.
How to Overcome the Great Resignation
As people continue to leave the workforce in groves, employers need to implement new hiring and retention strategies to ensure people don't quit their job for any of the reasons above. Matt explains that setting expectations and being transparent with your potential and existing employees is a vital key to retention. Employees want an honest description of their job duties and work environment. Any employer who doesn't stick to the expectations they've set risks losing disappointed employees.
Companies also need to be flexible in terms of meeting their employees' needs, and they need to be agile to keep up with the evolving market. Times are changing, and people want to work for a company that recognizes this and reacts accordingly. Lastly, it's important to check in with your employees and ensure communication is happening at all levels.
For additional insights into the best strategies to hire and retain talent, check out the full podcast.