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People Are Quitting and It’s Getting Expensive for Businesses

People Are Quitting and It’s Getting Expensive for Businesses

We are in the midst of a phenomenon known as The Great Resignation, and like many other time periods in the past with “great” in their title, they are anything but that. In this case, the Great Resignation has to do with people leaving their jobs without having new ones lined up, creating a lot of problems for businesses with employee turnover. Let’s take a look at the Great Resignation and what it means for small businesses.

What’s Causing the Great Resignation?

In short, burnout is a primary factor for the Great Resignation. Perhaps it is due to the pandemic forcing remote work on some folks, but people are spending a lot of time working even when not in the office. Without a break in the action, it’s no small wonder that employees are feeling burnt out. The hybrid workplace has created much anxiety with workers, with some of the topics contributing to this anxiety including missing out on opportunities, being left out of conversations at the workplace, and scrutiny about slacking off. With all of these factors coalescing, who can blame employees for wanting to get out and see what other opportunities are available to them?

Here are some statistics from Limeade’s research. These numbers come from a study that examined 1,000 workers who started a new job in 2021.

  • 28% left jobs without having another lined up.
  • 40% chose new jobs that offered remote work.
  • 24% left because their new job offered more flexible hours.
  • 22% felt more comfortable disclosing mental health issues with their new employers.
  • 29% of workers earned a 10-19% pay increase when leaving their old jobs.
  • 23% took a 13% pay cut at their new job.

Furthermore, some of the major trends indicate that workers are feeling underappreciated and that they are starting to grow mentally exhausted. And who wouldn’t, considering the issues that face most businesses these days?

What Do You Do Without Talent?

For small businesses, losing talent can be devastating, especially in areas where talent is somewhat limited due to geographic or population reasons. Thankfully, the Internet has enabled businesses to take advantage of outsourcing to shore up any issues they might have with their workforce. Say what you will about the pandemic, but it has shown that many positions are perfectly capable of being done in a remote setting, even if it might still be preferable to have someone on-premises doing the job.

One aspect of running your business that is enriched dramatically thanks to outsourcing is technology management and maintenance. Since technicians and other positions like these require intensive knowledge built up over years of experience, finding the appropriate technician can be difficult. Most technology management and maintenance can be performed remotely these days, meaning you are no longer restricted by your location or the talent in your area.

CoreTech can help your business overcome challenges related to your IT staffing. To learn more, reach out to us at (270) 282-4926.

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Thursday, December 09, 2021

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