Employee Resignation Skyrockets. Where Do Businesses Turn to?

The nature of work always includes people resigning from their jobs and disrupting business operations as they look for ways to fill substantial gaps. Companies want to avoid that situation, dedicating funds and resources to lower attrition rates and figuring out how to deal with employee resignation. Unfortunately, most businesses continue to struggle. It begs the question: where can companies turn to in this situation? Recent reports reveal that a rising number of employees from the United States quit voluntarily in the past year. McKinsey & Company finds that in the US alone, there are over 11.3 million open jobs at the start of April 2022. The number of vacant posts increased significantly from last year, a time dubbed as the Great Resignation. However, the phenomenon is not limited to the US, as other business-developed countries like Australia, Singapore, Canada, the United Kingdom, and India are also seeing a massive wave of workers resigning from their posts. The trend continues to alarm businesses working hard to keep attrition rates low through retention strategies. However, those efforts no longer have the same effect. Companies must brace for impact as employee resignations pile up, but where do they start?