How companies should deal with Great Resignation?

Seriously “Great Resignation” is trend which has picked up in last 6 months, there are about 12 million people in US alone who have quit their jobs in search of a better one, India the second largest IT market in the world is also witnessing extreme pressure on employee churn where most of the big IT companies have reported more than 20% attrition in last two quarters. There are news about hiring freshers so that attrition issue can be tackle. In another situation skilled resources whose experience ranges from 2-10 years are getting offers from multiple companies, the onboarding is being smoothen, what used to be 6-8weeks of onboarding is now 1-3 weeks. People are getting offer 3 times 4 times of what they used to get before pandemic, rightly so only people who are encashing this situation are younger employees.

So if I were to suggest some practical approach to HR & CEO of a company then I would investigate, ask suggestions, analyse results and suggestions, implement the strategy. Let’s discuss in detail:

Investigation:

Suggestions:

  • Revise Pay
  • Get then best industry training
  • Improve referral bonus, make it easy
  • Think about Talent Strategy rather than business strategy
  • Think about startup- how do they treat employees
  • Enable work from anywhere
  • Make them investor to your company- ESOPS
  • Think about housing for employees

Analyse Suggestions:

Implement New Strategy:

Amit Mishra

About the author

Amit Mishra is an IT professional around 2 decades of experience in Software Industry. He brings deep experience in Solutions, Quality, Sales, Marketing. He is mentor to MBA students at JAGSOM Bangalore and always helps people with varied career aspirations.

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