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6 ways to avoid the Great Resignation at your company

The Great Resignation is an incident in which an unprecedented number of people quit their jobs after the end of the Covid 19 epidemic. The term u201cGreat Resignationu201d was coined in May 2021 by Anthony Klotz, a professor of management at the Mess Business School at Texas A&M University., When he predicted a mass exodus.<br>

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6 ways to avoid the Great Resignation at your company

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  1. 6 ways to avoid the Great Resignation at Your Company

  2. overview The Great Resignation is an incident in which an unprecedented number of people quit their jobs after the end of the Covid 19 epidemic. The term “Great Resignation” was coined in May 2021 by Anthony Klotz, a professor of management at the Mess Business School at Texas A&M University., When he predicted a mass exodus. Employees can be tangible assets for the company or organization. They are the key to success and growth for the company. Also, they are essential for the company. But nowadays the number of employees who leave the company is perpetually increasing. There can be many factors which are affecting the employees. Like, working environment, being unhappy with the job role and many more, but this employee’s resignation affects the company, and it’s a massive loss for the company, especially if the departing employee is productive and hardworking. Companies highly value employee retention because replacing a good employee is not easy.

  3. What is a Great Resignation? The Great Resignation, also known as the Big Quit and the Great Reshuffle, is an ongoing economic trend in which employees have voluntarily resigned from their jobs en masse, beginning in early 2021. Possible causes include wage stagnation amid the rising cost of living, long-lasting job dissatisfaction, safety concerns of the COVID-19 pandemic, and the desire to work for companies with better remote-working policies. Some economists have also described the Great Resignation as akin to a general strike.

  4. Significance of Great Resignation While the Great Resignation started in the US, India was not far behind in following through, with many employees leaving their jobs. Good employees are the company’s need, and the company can’t afford to lose the best candidates (incredibly productive ones). So the company highly values employee retention because it takes a lot of time, energy and money to replace the employees. If a good performing employee leaves the company, then it can cause strain on existing employees that have to take on extra work until those roles can be filled. So retaining your top employees should be a priority for every company.

  5. Primary Reasons for Great Resignation • Compensation/ pay and benefits were not at par with their expectations or experience • Concerned about the health and safety measure implemented • Because there was no work-life balance • Upward advancement/opportunity to upskill was a reason to quit jobs • Majority felt that management still held on to opposing viewpoints despite the pandemic • Some were on the lookout for better flexibility and work from home options

  6. How Can You Stop the Great Resignation at Your Company? Companies give high value to employee retention because departing employees are a loss for the company. Every company tries to improve their workplace and work environment to make the employees feel safe and comfortable. This is the first step to stop the Great Resignation at your company. • Work-life balance • Flexible work options • Compensation or Package. • Provide opportunities for growth • Take care of your employees as well as their families • Feedback and exit interviews

  7. Conclusion After going through this article, we can say that a good employee is essential for the company, and the company can’t afford to lose a great employee. Companies should try to stop the Great Resignation, and the above points can help prevent the resignation. But we can’t force the employees to stay. There are several reasons why employees might consider leaving a job. Although some may be out of your control, staying active about what you can control can help you move on to great resignation and avoid losing your best people. If some employees finally decide to go ahead, ask them what your company can do to give them better support. You may not be able to stop them from leaving, but you can control the next person.

  8. Presentation made by Hirect • Scan & Download Hirect App!. • Fill your information and choose the relevant category • You can directly with the HRs and CEOs directly For more information Visit:- https://www.hirect.in/blog/how-can-you-stop-great-resignation-at-your-company/

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