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How to Reshape Your Business Strategy to Survive 'The Great Resignation'

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23.08.2021

Despite the logical predictions about how the Covid-19 pandemic would negatively impact the economy across 2020 and 2021, many industries managed to sustain the hit and even grow sustainably.

S&P 500 and Dow Jones Industrial Averages set record highs in August. Most industries mark growth over the course of the year, excluding highly affected segments such as airlines, restaurants, leisure and auto parts.

It seems that the vaccine's efficacy will mitigate the possibilities of future lockdowns, and hiring is on the rise.

Related: How to Keep Your Most Valued Employees During 'The Great Resignation'

One broadly unexpected phenomenon is the global exodus of talent across organizations small and large. The pandemic led to an unprecedented shift in rethinking work-life balance, providing new possibilities for freelancers working from home, along with an influx of remote jobs through new businesses making the leap.

And while the onus is on shaping the work dynamics around retaining talent, the majority of the businesses suffered the consequences of parting ways with long-time employees.

Rebuilding core departments and catching up on institutional knowledge takes time. Here is what to do to reduce the tension across the organization and externally and survive through the next few months.

The current shift in employment will leave a lot of your staff questioning the longevity of the company. Without a consistent message, you risk an upcoming trend of "abandoning the ship" unless you communicate the situation........

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