In the last few years, many people decided to leave their jobs in hopes of finding employment that is more in line with their values, or that provides better employee benefits and a higher salary. Whether you call it The Great Resignation or The Big Quit, this phenomenon has changed the way we look at the various aspects of our careers such as employee benefits and work/life balance. Here are some of the most common reasons people left their employers in 2023.
Remote and Hybrid Work
During the most intense periods of the Covid-19 pandemic many employees got a taste of working from home, and for a large number of people it was far more manageable than dealing with traffic or public transportation every day. Additionally, remote and hybrid roles have been proven to increase productivity, and often provide employees with a better work/life balance.
Current trends seem to suggest that many companies are calling their employees back to the office, which can be jarring after the numerous benefits experienced from working remotely. As such, employees are seeking other avenues of employment in which hybrid or entirely remote roles are offered.
A Career Change
Building off of our last entry, it would be fair to say that during those initial remote days, people had a whole lot more time to think and reflect. New interests may have been discovered, or maybe some previously unknown skills suddenly developed. When we sit and really take inventory or our lives, there’s bound to be some things that we want to add, change, or eliminate entirely.
These reflective moments may have caused many people to reconsider their careers. For example, someone who previously worked in finance might have realized they would feel far more fulfilled working in the tech industry. With remote work becoming so widespread over the past few years this phenomenon likely occurred on a massive scale, causing a large number of people to change their careers.
A Better Company Culture
The Great Resignation called attention to a lot of the issues that employees face in the workplace, from poor management and company policies, to toxic coworkers and hazardous working conditions. With these weaknesses exposed, people began to quit their jobs en masse. Say what you will about The Great Resignation, but at the very least it got people thinking and considering whether they’re willing to put up with a less-than favorable working environment.
Over the last few years, people have become more in touch with their wants and needs as it pertains to their careers. Because of this, job seekers are far more selective, and often apply only to jobs that meet their individual criteria. Many companies have responded to this by creating employee resource groups (ERGs) and implementing diversity, equity, and inclusion (DE&I) initiatives. Still, potential employees will use their own discernment to ensure that a company’s efforts are sincere.
An Uncertain Future
We’re all feeling the effects of economic strife in one way or another, and companies are no different. In the last few years, stories of major companies laying off numerous employees have been popping up all over the news, and many of us have either experienced this first-hand, or have heard tell of massive layoffs from friends or family members.
The fear of potential layoffs has caused employees to pay more attention to their employer’s activities and bottom line. In some cases, people may be able to anticipate impending layoffs and will decide to jump ship in search of more stable employment. In another scenario, a portion of a company’s staff may leave after a round of layoffs in fear that their jobs may be next.
You saw this one coming, didn’t you? One of the most common reasons why people leave their jobs is in search of a higher salary. They say money isn’t everything, and this is most certainly true, but it is one of the necessary evils of life. Need a new car? You have to pay for it. Want to buy your own house? You’ll need to save a whole bunch of money first.
The fact of the matter is that even necessities cost money, and when we’re dealing with crippling inflation and an ever-increasing cost of living, the numbers on our paychecks matter. If companies are unwilling or unable to compensate for these economic issues, their employees will seek out jobs that pay them more. This has been especially true in the last few years.
In light of The Great Resignation, companies are starting to realize that in order to improve employee retention, they have to do more for their employees. This could mean adding new types of benefits, developing ERGs and DE&I initiatives, or providing further incentives for employees to remain productive and motivated. In the absence of such programs or any meaningful benefits, it may become more difficult for companies to attract talent.
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