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The ‘great resignation’ is here. This is how employers should prepare

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Is your company ready for the “great resignation”? Texas A&M University Associate Management Professor Anthony Klotz coined the phrase during an interview with Bloomberg Businessweek and predicts that people who stayed put during the uncertainty of the pandemic are getting ready to jump ship. A study by Microsoft found that 41% of the global workforce would consider leaving their current employer within the next year.

Why the discontent? It’s the perfect storm, says Shahar Erez, CEO of the freelance talent platform Stoke.

“The great resignation is propelled by three forces: the changing generation, the economic crisis, and the realization people have had that they can have a different social contract, spending more time with family when they work remote and skip the commute,” he says.

Freelancers often landed on their feet during the downturn of the pandemic. “They had built and nurtured a network and were able to hit the ground running,” says Erez. “They had the skills, structure, and internal DNA to fit themselves into the changing landscape. Employees who were let go were like deer staring in headlights. Many didn’t know how to find a job in the new marketplace.”

Erez says employees realized during the pandemic that there is no such thing as job security. “They realized being stuck to a single employer is not the best advice,” he says. “They don’t want to rely on........

© Fast Company

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