Wednesday, March 22, 2023

Will 30% of Employees Quit their jobs in 2021?

By Vishal Muktewar - June 11, 2021 3 Mins Read

Will 30% of Employees Quit their jobs in 2021?

As employee demand for flexible work alternatives grows, enterprises should consider implementing flexible work options as soon as possible.

As the effects of the pandemic seem to be receding, masks and life on Zoom are not the only things that most employees want to leave behind. According to various surveys, people are eager to leave both the COVID-19 restrictions and their present jobs behind in 2021. In fact, according to a survey conducted by the Microsoft Work Trend Index, 40% of people want to quit their jobs this year.

With enterprises planning to reopen their offices, there is still a lot of uncertainty about the usual workweek. Companies should expect to see a bumpy launch in the initial months of experimentation. There’s no doubt that the re-entry into the new hybrid work model will be fraught with difficulties. This may even force some executives to revert to their traditional way of working. However, before making any decisions, C-suite executives must consider the fact that employees are more productive and perform better in the hybrid work environment.

Also Read: Empathy – The Second Wave of COVID-19 Demands Companies to Focus More On Employees

Why do employees want a new job?

According to Forrester’s research, one of the prime reasons people want to resign from their current job is to maintain the option of remote working. It also suggests that over 70% of enterprises will adopt a hybrid work model, but not all of them will be able to execute them, and not every job will be suitable.

People had a lot of time to rethink what kind of role they want work to play in their lives. Employees now demand a more sensitive, humane, and caring work atmosphere. They are less likely to embrace the old five-days-a-week, 9-to-5 work schedule. Hence, it is critical for enterprises to rethink their traditional workplace model.

Steps enterprises can take to stop or mitigate the effects of the ‘resignation wave’

The first step organizations should take is to eliminate the uncertainty surrounding the rules regarding flexible work hours. They should clearly define what they mean when they say “workplace flexibility”. Enterprises should hold events, tours, and focus groups to know the areas of churn and retention as well as the high points and pain points of their employees’ experiences. Also, enterprises should trust their employees and provide flexibility and autonomy in setting their work hours. This is one of the best strategies for retaining employees.

Also Read: Businesses Can Provide Employees with an Anchor in The Storm

Enterprises should be open to an ‘office + anywhere’ hybrid work policy with their employees in the office two or three days a week. They should also give a valid reason to their employees to come to the workplace and not just make it mandatory.

For the next 12 to 18 months, enterprises should experiment with their hybrid design model to identify the best policy that suits them. Moreover, enterprise leaders should reconsider what constitutes a great employee experience because it drives retention. Providing employees with autonomy over their work and the tools they need to do it effectively, as well as helping them understand and appreciate their role in the enterprise, can significantly help in retaining priceless talent.

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Vishal Muktewar

Vishal Muktewar is a Senior Correspondent at On Dot Media. He reports news that focuses on the latest trends and innovations happening in the B2B industry. An IT engineer by profession, Vishal has worked at Insights Success before joining Ondot. His love for stories has driven him to take up a career in enterprise journalism. He effectively uses his knowledge of technology and flair for writing, for crafting features, articles and interactions for technology enterprise media platforms.

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