The Great Resignation - Fact or Urban Myth?

Many have had to cope with increased health anxiety and social isolation as a direct result of the pandemic. And it’s little wonder that these impacts have prompted people to think deeply about their personal and professional priorities.

Media reports and digital conversations have come to focus on the phenomena of the Great Resignation, with a recent Microsoft survey revealing that 30,000 global workers are considering quitting or changing professions before the close of 2021. And HR software company Personio has released a study showing that 38% of employees across the UK and Ireland plan to quit within the next six months to a year.

But is the great resignation more hype than reality? And if it is a truth then what might be the impact on businesses and careers in Lincolnshire? Read on as we answer these key questions.

What’s the evidence?

A recent article published by Wired magazine reported that there is hard data to support claims made about the great resignation. There has been an increase in the number of employees writing resignation emails, giving their notices, and leaving their jobs for good. This has been reflected in the all-time high number of UK vacancies reported in July, with the number of open positions standing at over one million for the first time.

Keen to find out whether Lincolnshire companies are feeling the impacts, our Lead Recruiter Claire Wakelin recently ran a LinkedIn poll, asking whether the great resignation is a fact or an urban myth. 60 people cast their votes, with 48% saying that they’d seen more candidate registrations and increased their recruitment over the last few weeks. A further 30% said that they’d seen a few, with just 7% not seeing any movement, and 15% being unsure.

Workers throughout Lincolnshire and the wider UK are clearly taking the opportunity to reassess their levels of commitment and seek fresh opportunities. Such decisions are being based in large part on the ways in which such workers were treated by their employers during the pandemic.

How should companies respond?

Those companies following the recommendations made in the recent Benjamin Edwards blog on how to attract, keep and motivate your employees during a pandemic look set to fare best during these changed times. Employers must recognise that their staff members are not machines with a sole focus on productivity. If you want to get the most out of your workforce then you have to make provisions for mental and physical welfare. Perhaps now more than ever, people are looking for flexibility and stability.

The Personio study further highlighted the need for a caring approach, with more than half of employees intent on quitting saying that they wanted to do so because of a reduction in benefits, a worsening work-life balance or a toxic workplace culture. And prospective employees will be prepared to bide their time in the knowledge that the demand for talent is rapidly overtaking supply. We are confident that the number of companies registering vacancies with Benjamin Edwards will increase over the coming weeks and months.

Businesses planning on hiring in Lincolnshire must recognise the need to cater to worker demands beyond the financial. It is essential to offer a broad range of benefits, with workers being provided with greater work-life flexibility. This might mean making provisions that will allow employees to work on a remote or hybrid basis. It will also be essential to ensure that your in-house employees are having the best possible experience, providing opportunities for involvement and rewarding positive contributions.

Contact Benjamin Edwards

Focused on the simplification of the recruitment process, the Benjamin Edwards recruitment consultancy provides dedicated support to job seekers and employers. Whether you want to boost your chances of landing the dream job or sourcing top Lincolnshire talent you should get in touch.