The enormous number of people who are quitting their jobs post-pandemic is impacting the socio-economic environment massively. Some have labelled this phenomenon ‘the great resignation,’ originated by psychologist and professor Anthony Klotz, who believes COVID-19 was an accelerant for employees demanding more.
Within the tech industry, resignations have increased by 4.5%. Why is this? Recent research has found that 1 in 3 respondents cite lack of remote working and lack of mobility as deterrents from staying or applying for a new role.
Employees have gained more bargaining power and their needs and values have changed since the pandemic. This now impacts all organisations, large and small. Lack of opportunity to work remotely is a major reason why people quit and if new roles do not include ‘remote’ in the job description, potential employees won’t bother applying.
As far as Millennials and Gen Z are concerned, 49% would consider leaving if remote working was not an option. But why is this demographic important? Simply, people in these age brackets will be central to shaping working life for the future.
It has been found that mid-level employees are the most confident in resigning as, due to their skills and experience, they are confident of their leverage in securing another job with remote working. Employers are likely to trust them more than younger, newer employees, particularly if they lack the ability to do full training remotely.
Should other companies follow industry giants like Amazon? They have implemented indefinite remote working policy for tech and corporate employees.
But does remote working work?
It has been found that organisations can thrive with hybrid and remote working.
- Worried you will lose your built-up culture? If a company has a strong culture, it will still preserve through this new working pattern.
- Worried about your employee’s wellbeing? 45% of remote workers state they set clear boundaries to avoid stress and anxiety
Talent mobility provides an option to combat the great resignation by expanding the talent pool. Why limit your organisation to a specific geographic area? Expand your target candidate market and include a new level of diversity into your team.
Having a globally mobile workforce puts your organisation ahead in the eyes of employees and limits the risks of employees leaving for other companies that have these offerings. Now is the time for organisations to be leaders and put themselves at the forefront of encouraging more flexible, remote, and global business.
In many organisations, focus is shifting to workforce planning and optimisation, including integrating remote working into their core business. 1 in 3 companies are expecting the population of remote workers to increase and expand to include international remote workers. Understanding immigration, tax, and the compliance environment is crucial to accommodating this.
Get in touch with our team to enquire more about global expansion and how you can become a leader in mobility.