With labor turnover in various job markets remaining an ongoing issue, some experts think it’s because more employees are looking for better opportunities.
Initially, economists were calling the labor shortage the “Great Resignation,” as people seemed to realize they aren’t happy where they are in their respective careers.
Some people go into business for themselves because of ‘great Resignation’.
According to Nicholas Migliozzi, Area Vice President for human resources, staffing and recruiting, it’s more like “the Great Rotation.”
“So the ‘Great Resignation’ comes down to record-breaking highs when it comes to, you know, people choosing to resign from work here at Randstand, we’ve been calling it more of a ‘Great Rotation’ because it’s not like.”
Rather than quitting jobs or realizing they don’t like working for the company, people are finding better opportunities within their career field and jumping ship, instead
According to a recent report, Texas still has worse unemployment rates than the rest of the country. The unemployment rate in Texas increased as of May 2021, but still remains higher than the national rate.
Migliozzi said that the unemployment rate has increased to where it is at a rate of 5.5% compared to 4.6 nationally.
Some go into business for themselves after reading ‘Great Resignation’.
The after effects of the coronaviruses epidemic could be a part of this.
The effects that we’re seeing more comes down to the employees’ thought process, you have some people that still want to work from home, you have some people that want to be in office and I think the biggest thing across the board is just the options that we have.” “With people being able to choose where they want, that kind of calls in some of this Great rotation, Great Resignation, whatever you’d like to call, because if people are unhappy with having to go into work or getting used to managing their workload.”
The driving factors behind Americans leaving their jobs in 2021 were looked into by a research group. Migliozzi is part of a staffing and recruiting agency.
“Salary is the biggest thing that we’re talking about, you’ve seen an increase across the board when it comes to wages and compensation,” he said. Things that make sense from a hybrid structure are what are being talked through. If they want to be in the office from that aspect, and if they want to work from home, you give them a little bit of that. We’re trying to give a lot of coaching around that. Also, what the benefits packages look like.
The reasons workers quit their jobs are tied.
Employees looking to find a proper balance between work and personal lives is also part of the reason.
Almost three and five workers under the age of 35 would have accepted a job if they thought that it would negatively affect their work-life balance, according to a study. “So in other words, we’re also seeing some of this work-life balance getting affected to why people are rotating into other jobs as they continued to join the workforce.”
It’s difficult for employers to come to terms with these conversations, but Migliozzi says it’s important that workers feel comfortable so they can be their most efficient.
“If you’re raising everybody’s salary that’s coming in, you also have to look at equity races and everything in between for your current employees,” he said. “So that cost itself is something that’s, you know, really getting pushed back on us, but the cost of vacancies is just as expensive as continuing to raise the salaries from that aspect.”
Businesses are rehiring Boomerang employees after the Great Resignation.
Some companies still think that everyone should come into the office, even though we’re getting past the Pandemic, and there are some people that have gotten more comfortable at home. They definitely do in some circumstances.
Migliozzi told some employers to be flexible.
If the leader of the company doesn’t understand it, you’re probably going to see more of it, because there are so many options and our clientele.
Harris Co. is giving job seekers with a criminal history a fair chance at employment.
It’s important for workers to be open and honest about what they need from their employers in order to work harder.
“At the end of the day, you know, we do have to ask, and I would challenge that employee to have that conversation; and I think it comes full circle to the companies that get it and understand it are the ones that you’re continuing to see grow,” he said
They have a website where you can learn more about it. You can read more about the advice Randstand is sharing with employers and employees by clicking here.