Companies are bracing themselves for a huge turnover rate once the pandemic lifts according to two studies as reported by SHRM. They estimate that more than half of employees in North America are planning to look for a new job in 2021 and a quarter of them may quit their jobs outright when once recruitment levels are up.
The pandemic has caused the lowest quit levels in nine years. People are holding onto their jobs for the security due to the uncertainty of the pandemic. Now that we have vaccines and distribution is increasing, people are feeling more comfortable with searching for a better job. But why is the urge to search so strong these days?
One consulting firm says that 57% of U.S. employees say they are burnt out in their jobs and want to leave, especially women and employees with children learning at home. The enormous shift to remote work has also prevented companies from addressing burn out by adjusting work/life balance and improving company culture.
Contrary to many beliefs before the pandemic, working from home does not always offer a better work/life balance. Many employees have worked more at home than in the office due to fears that their employers might not believe they are productive enough. To show this, they are skipping breaks and starting or stopping earlier.
Companies need to keep their top performers engaged with the success of the company and recognize their achievements. They also need to listen to their employees more closely than ever about the new challenges of remote work on this scale and address their concerns.