The COVID-19 pandemic triggered the Great Resignation. According to CNBC, over 48 million people will be unemployed by 2022. One reason individuals resign is to pursue more money and/or better chances. Some scenarios make sense based on needs and circumstances. This is a global trend, not just in the United States. Top IT firms such as TCS, Wipro, and Infosys had attrition rates of 20-25 percent in the recent quarter.
Interesting, isn’t it?
Many of my colleagues have left their employment due to causes such as high compensation, pressure, government jobs, and reputable organizations. On the other hand, I can picture people doing it as a hobby and simply abandoning their jobs for fun. However, almost a million talented individuals are still waiting for an opportunity.
Let’s take a look at some of the top 10 reasons people quit their jobs.
Low Pay: Nothing to be surprised about. This is the most important factor and the biggest factor to quitting their jobs. In hot employment markets, recruiters are salivating at the prospect of snagging good prospects and paying them more than their previous employers. If you already have a higher-paying offer, it’s not a terrible idea to inform your present employer about market rates for your current position and use it to negotiate a raise.
Career Growth and Development: Talented people desire to work for a company that will assist them in developing skills and gaining knowledge while also advancing their careers. Employees usually leave their employment owing to a lack of prospects for growth. It is vital to show your employees that the firm values their desires to progress professionally. Quality employers offer chances for continuous education such as workshops, seminars, lectures, and even perks.
Change of Career: It’s possible to get bored at the same job after a while, and it’s acceptable to consider seeking a new challenge. Changing personal philosophies or life goals may merit a new career change, so it’s worth seeking out a new role if necessary. Finding a career path and new challenge you’re passionate about will make your work life that much easier to handle.
Work-Life Balance: You may discover that your manager continually contacts you outside of business hours or that you’re always working overtime. Maintaining a healthy work-life balance includes making time for friends, family, and interests. Looking for new work with a company that prioritizes employees’ time will help you attain this balance.
Poor Performance Recognition: Employees are more likely to leave organizations that fail to differentiate between great achievers and laggards when it comes to recognition and awards. Managers may make their employees feel more appreciated by delivering positive feedback and gratitude. Quitting a job and looking for one where hard workers are rewarded may help you feel more respected.
Work Overload: Being overworked or feeling underappreciated can be a big factor as to why employees ultimately leave a job. It may be as easy as meeting with your staff to discuss their work, assist them in prioritizing their responsibilities, and encouraging them to communicate with you when they have a problem to ensure they aren’t overloaded. We’re all human, we only can give so much, and we must not put too much pressure on ourselves.
Bad Managers or Management: Keep thorough notes of your encounters with your boss if his or her behavior is unprofessional or poisonous. If you have a strong and genuine case, you may be able to escalate the issue to their immediate management and/or HR. Another possibility is to request a transfer to another department. Another one of the biggest reasons people abandon their jobs is a lack of support from management.
Personal Issues: There are times in life when it’s tough to keep a job. If you’re caring for a family member, coping with personal health concerns, or going through a divorce, quitting your work could be a good idea, but perhaps instead of quitting, you might request an extended term of unpaid leave. If that isn’t an option, you may have to quit your job to address your issues.
Remote Working is not Allowed: 55% of employees would prefer to be remote at least three days a week once pandemic concerns recede, according to research from PwC. While this is unlikely to be a blanket solution, most firms will have at least some employees that can function productively outside of the office setting. This is another critical issue that many organizations are dealing with right now.
Professional Break: This is a true occurrence that can happen to the best of us. You’re probably suffering from one or more of the aforementioned issues, and the greatest thing you can do right now is take a gap year or gap period. If you have the financial means to maintain yourself through a long time of unemployment, a professional sabbatical might be an excellent method to re-energize.
You should constantly search for methods to make the most of every job opportunity. The good news is that more businesses are recognizing that workplace stress is a serious health and safety concern, and many are cutting hours and demanding employees take more vacation time for this reason. Employees that are satisfied with their jobs work more effectively. Large organizations are coming up with novel strategies to help employees and de-stress work conditions. Workers fare well when management communicates praise and encouragement and are clear about workplace expectations.
All that being said, many large companies are now looking toward layoffs, so be careful about jumping into a resignation with both feet without checking for jagged rocks below.
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