Navigating the Great Resignation is unknown to the majority. According to the National News, the “Great Resignation” was coined in 2021 by Anthony Klotz, a psychologist, and professor of business administration at Texas A&M University. Furthermore, the Great Resignation continues as workers seek higher salaries. The resignation continues to surge, with the US Bureau of Labor Statistics reporting a record-breaking number of job departures in May 2023. Moreover, about 26% of employees globally are expected to change jobs this year as inflationary challenges continue to affect their finances, a PwC survey finds. The driving forces? Higher salary expectations and a quest for improved work-life balance.
As the average salary offer for US job seekers has risen by $10,000 compared to last year, employees are no longer settling for less. They’re also seeking a healthier work-life equilibrium, tired of the relentless grind and constant connectivity.
This mass exodus is posing significant challenges for businesses, with increased labor costs and production delays due to a scarcity of qualified talent.
As a business leader, adapting to this new landscape is crucial. Competitive salaries, flexible work arrangements, and positive work culture are no longer optional – they’re necessities.
Are you feeling the impact of the Great Resignation? How are you responding?
TESI IT Outsourcing is your strategic partner in navigating this shift. We provide talent outsourcing services for companies across the US, UK, AU, and other English-speaking countries. Our team of seasoned professionals can help you fill your vacancies swiftly and effectively. Plus, our flexible work solutions can be tailored to your unique needs.
Discover how TESI ITO can help you tackle the Great Resignation head-on.
Reach out to us at tesioutsourcing@tesi.com.ph or visit our website.
