The Great Resignation is real, and it is big. Employees today are leaving their jobs in large numbers after getting the chance to rethink their careers during the pandemic.
This mass resignation is likely to create better opportunities for employees, allowing them to rethink their goals and land better jobs. However, both employees and employers need to follow these events carefully and make decisions that maximise their benefits while reducing the risks, and ensuring all decisions are being made rationally and not emotionally. The last thing any employer or employee needs is regret in leaving their roles.
Here, we will talk about what employees and employers can do to avoid suffering during the Great Resignation.
What Employees Can Do
Employees need to make sure that they have thought it over in advance if they are quitting their job. They need to make sure that they have other options lined up and that quitting their job will not be a huge financial sacrifice.
For this, employees should do the following:
Make Sure You Have A Plan For After You Quit
Suppose you want to leave your current job. This could be for a number of reasons, including changes in your life goals or changes in your perceptions about remote work. That being said, if you quit, what will you do? Do you have a job you’re sure you will get? Do you have any remote work offers you can accept? If not, do you have enough savings to get by until you get a job? If not, this may not be the best time to quit.
Consider Your Notice Period
If you have another employment opportunity to take after you leave your current job, you need to consider the notice period for the job you currently have. Does the notice period end before or after you’re due to start at your new job? If you ask for a reduction in your notice period, will your current employer agree? If they do agree, will they deprive you of any bonuses or compensation? Whatever the outcome, are you willing to risk it?
Choose A Good Time To Quit
In some cases, you may be due for a bonus if you work for a few more weeks. Quitting could take this opportunity away from you. You should choose a time of the year when it is cost-effective and beneficial for you to resign, keeping all bonuses and compensations in mind.
In addition to this, and regardless of ill feelings towards a manager or position, we recommend you complete all unfinished work. This will ensure all loose ends are tied, and will increase the likelihood of being welcomed back should the need arise.
Seek Legal Advice
Sometimes, employment contracts include restrictive or other clauses that may affect what you can and cannot do after quitting. When this happens, you should seek legal advice and make sure that you know every little detail about the contracts. If you are seeking legal advice regarding your role, feel free to reach out and ask for our recommendation.
What Employers Can Do
During this period, most employers want to retain as many employees as possible. For this, they need to handle matters carefully and ensure that, if an employee does leave, the termination goes well.
Here are some things employers should do:
Build Employee Enthusiasm And Connection
To ensure that your employees stay, you should make sure that they feel a connection and identification with your company’s brand values. To do this, you can communicate your mission to your employees and encourage them to make decisions that best fit your objectives.
Celebrate Your Employees
Every employee seeks some form of appreciation and achievement. By making them feel seen and by showing them that their achievements matter, you will make them feel more at home in your organisation. Employees will know that their efforts and contributions matter, which will encourage them to stay in the company.
Address Employees Who Are Planning To Resign
For employees who are already planning on resigning, you might want to consider convincing them to stay through better packages and offers. Ask them about their concerns and reasons for resigning and try to come up with solutions for those concerns.
If the employee has already raised concerns in the past and these concerns are only being addressed upon resignation, this could create resentment and a feeling of being undervalued. We recommend you address concerts immediately to avoid unnecessary and preventable fallout.
Pay Attention To Termination Clauses
You should know the procedure and the clauses binding an employee after they leave. This includes the length of the notice period, the pay you need to give them, and information regarding termination without notice. Failure to take these into account and make decisions without this information may result in legal troubles.
Final Words
Employees and employers should take adequate measures to avoid risk and to ensure that they benefit during the Great Resignation. Employers should make sure to quit when it is cost-effective for them to do so. They should keep in mind notices, bonuses, and backup plans when they quit.
Employers should try to retain employees through appreciation, brand value alignment, and counter-offers.
Here at Responsum, we are here to ease both employers and employees through this transition. Don’t be afraid to reach out to our team of experts for any and all professional guidance.
Author: Mohammed Adris is a co-owner & director at Responsum Global. He has over 8 years experience matching the top building services engineering talent with the best employers. He has over 50 written success stories. He’s active on LinkedIn, is a host on The Building Services Podcast, and a regular writer on The Building Services Blog. He’s a dad of 2 & a petrol head.