Since 2020 the world is witnessing a great resignation phenomenon’. People are resigning throughout the globe in top corporates, IT companies, and even in smaller firms. Last year millions of working people resigned in their own volition. Covid pandemic is the biggest factor for such high attrition. Drastic changes introduced in companies all over the world due to pandemic is to blame for this. It was observed that the employees were unable to face prolonged emotional and mental stress in their workplaces. However, the attrition is restricted to medium category and low wage workers and the sectors that have been most affected are transportation, hospitality, health, education, retail, etc. One example will suffice to understand the seriousness of the problem. It is recorded that 20 million people left their jobs in the USA in 2021 and even the same trend is being witnessed in 2022. Though the problem is not so critical in India yet it is gradually becoming alarming and naturally, the companies are keeping watch on this and taking steps to deal with this.
THE REASONS FOR SUCH A GREAT RESIGNATION
It is being found that more innovative companies are facing more attrition. It is wrong to believe that the workers are quitting over salary dissatisfaction. The study points out that the bigger reason is Toxic corporate culture. Other factors that are driving the employees to switch over are job insecurity, a high level of innovation, etc. The employees also feel hurt if there is no attempt by the management to recognise the employees and their contributions.
CAN THE QUITTING BE STOPPED
The companies have taken note of this serious trend and have come to the conclusion that if this process is not stopped, it may in course time, become a major concern for the world economy. Therefore, the companies are taking steps to offer better opportunities including better pay to the new employees. The employees are preferring home-based work as they are unable to cope with harsh measures being adopted in view of the pandemic. To retain the workers the companies are introducing better timing, shorter week, flexible work patterns.
If the trend of attrition is drastic, a drastic step is also necessary to be taken by the companies to make the employees enjoy their work besides better pay packets. The companies should prevent the employees from facing any stagnation, doing routine work for years kills their enthusiasm. Apart from this, there should be healthy work culture with lots of fun, cultural programmes, excursions etc. which will offer the employees much-needed relaxation. Most importantly there should be opportunities for recognition and growth. It is growth that makes the meaningful and alive.