The Great Resignation and Employers in 2022
Headlines in the United States have highlighted the “Great Resignation” for much of 2021. The very sound of this name gives employers stress, and many employees themselves don’t know what to make of it. While much of the focus has remained on the United States labor market, the “Great Resignation” is gaining traction in Australia, England, and other nations around the globe. It’s clear that this isn’t a local aberration, and it seems to be carrying momentum into early 2022.
There’s nothing unusual about above-average numbers of people moving on from their current jobs. The ebb and flow of the job market ensure these patterns play out over and over again throughout the decades.
But THIS IS DIFFERENT.
The current average annual turnover rate in the United States is 57%, with 70% of the job departures voluntary. It’s simply not sustainable for small businesses with limited recruiting and training resources to deal with that much turnover. The financial impacts are felt across the spectrum, leading to a combined loss of $600 billion a year.
Many businesses have made changes in their workplace to accommodate the labor shortages with retention bonuses, higher wages, flexibility, benefits, remote work, and reduced hours, but things still aren't going as expected. What are the reasons employees are leaving their workplaces and what can Employers do to retain their employees?
Join us on Compliancevent to find out how it's impacting your industry and what measures you can take to stop this ripple in your workforce! You'll also receive a FREE customized compliance tool to execute the practices we'll share with you in this training.
Why is it Important to Attend?
When it comes to the tenure of the employees leaving, there’s bad news at both ends of the spectrum. Many businesses are seeing their experienced employees exit, taking established knowledge and tactics elsewhere. New employees are also heading for the door. A staggering 33% of new hires are departing in the first 90 days.
Some experts point to government programs that have delivered extra benefits and incentives to workers. Others claim that workers are quitting because they don’t want to return to their offices as businesses transition into post-COVID work arrangements. And, finally, many people see the trend stemming from efforts to get either promotions or more money elsewhere.
The Great Resignation is impacting nearly every industry, but some feel the sting more than others. The following are among the hardest hit:
-Restaurants and bars
-Arts and entertainment
What'll You Learn?
-What is the Great Resignation and how can Employers mitigate the impact?
-Why is the Great Resignation or the Great Reshuffling happening now?
-What are the industries most impacted by the Great Resignation?
-What statistics need to be reviewed to prepare for changes in the workplace?
-What onboarding tips can help the employers and employees?
-Is it compensation that leads the reason for voluntary resigning?
-What's the most significant issue that keeps coming up when it comes to career moves?
-How do different employees react to Employers?
-Supply and demand have shifted. Why do Employers need to take these shifts seriously to maintain their company budget?
-What other perks can Employers offer employees to retain them?
-Which Employers have prepared to meet the challenges and others who have failed?
Who Will Benefit?
-Employers in impacted industries (IT, retail, construction, Healthcare, retail, Restaurant, hotels, and arts, and entertainment)
-All other industries that have challenges with labor shortages
-Small Business Owners
-Large Business Owners
You may ask your Question directly to our expert during the Q&A session.
Margie Faulk is a senior level human resources professional with over 15 years of HR management and compliance experience. A current Compliance Advisor for HR Compliance Solutions, LLC, Margie, has worked as an HR Compliance advisor for major corporations and small businesses in the small, large, private, public, Non-profit sectors and International compliance.
Margie has provided small to large businesses with risk management strategies that protect companies and reduces potential workplace fines and penalties from violation of employment regulations. Margie is bilingual (Spanish) fluent and Bi-cultural.
Margie’s area of expertise includes Criminal Background Screening Policies and auditing, I-9 document correction and storage compliance, Immigration compliance, employee handbook development, policy development, sexual harassment investigations/certified training, SOX regulations, payroll compliance, compliance consulting, monitoring US-based federal, state and local regulations, employee relations issues, internal investigations, HR management, compliance consulting, internal/external audits, and performance management.
Margie’s unique training philosophy includes providing free customized tools for all attendees. These tools are customized and have been proven to be part an effective risk management strategy. Some of the customized tools include the I-9 Self Audit. Correction and Storage program, Ban the Box Decision Matrix Policy that Employers can provide in a dispute for allegations, Family Medical Leave Act (FMLA) Compliance Guide, Drug-Free Workplace Volatile Termination E-Book and other compliance program tools when attendees register and attend Margie’s trainings.
Margie holds professional human resources certification (PHR) from the HR Certification Institution (HRCI) and SHRM-CP certification from the Society for Human Resources Management. Margie is a member of the Society of Corporate Compliance & Ethics (SCCE).