Every so often, an event happens that shapes a generation. Now, in 2022, this event could be the 'Great Resignation'. But, what is it, and why should you take note?
The last few years have been challenging for all of us - there's no doubting that. Battling COVID, anxiety, stress and worries associated with daily life, some of us have been fortunate enough to rely on the stability of working remotely. Now, emerging from the other side of the pandemic, attitudes appear to be changing.
Working attitudes have shifted from the days of 9-5, Monday to Friday, chained to a desk. Instead, attitudes towards a work/life balance have shifted. For some, work is now on the back burner. Equally, others have doubts over the productivity of those working outside of an office.
One thing isn't up for debate; 2021 saw a record number of resignations - 4.5m people quit by the end of November - leading to experts branding it the 'Great Resignation'.
Some employers have struggled to tempt staff back to the office in a hybrid capacity, whilst others have demanded a full return. Some employees have been reluctant to step back into lower-paying roles where they're viewed as dispensable.
The term the 'Great Resignation' was coined by Anthony Klotz, a professor of management at Mays Business School at Texas A&M University, in 2021.
Speaking on a panel discussion, he outlined the four pandemic-related trends he believed led to the event occurring. These are:
As established earlier, record numbers of people are leaving their roles, prompting publications such as Bloomberg to run articles such as 'How to Quit Your Job in the Great Post-Pandemic Resignation Boom'.
A paper published on the impact on the UK labour market showed the number of people claiming unemployment related benefits fell by 48,000 in the month to February 2022 but remains 510,000 higher than in March 2020
But what other takeaways have there been? Findings from ZDNet showed that:
Whilst all sectors will feel the brunt of the staff turnover, findings have shown the tech space is amongst the worst hit. The study went on to find that: "resignation rates were higher among employees who worked in fields that had experienced extreme increases in demand due to the pandemic, likely leading to increased workloads and burnout."
As anyone who works in tech can attest, the shift to remote work increased the strain on internal IT departments. In fact, the tech sector may be one of the few industries to have come through a global pandemic in a better shape than it entered.
But, with job vacancies aplenty and skilled workers appearing to be few and far between, how can you meet the increasing workload and demands with a workforce potentially smaller than you had in 2019?
Filling these vacancies in tech - especially those in cyber security roles - can prove challenging for an organisation. As companies scramble to fill vacancies in potentially vulnerable areas, the world keeps moving.
However, a managed service provider (MSP) could provide a ready-made, one-stop-shop solution. If your workforce is spread thin, or you're unable to get your IT goals aligned with your business plan, you may find yourself asking, 'do I need an MSP?' The answer is likely to be resounding. Yes, you do.
Not only can they become a trusted business partner, but they can offer an opportunity to outsource business-critical functions that could be considered secondary to their core product.
At Fifosys, we've been the trusted MSP for businesses in a wide range of sectors. With over two decades of experience, we've worked to ensure that all our partners know - and feel - the benefits associated with having an MSP.
Not only can you save on IT expenditure, but you can develop your infrastructure to ensure it's viewed as something to be proud of - not just a necessary evil.
Get in touch with our team today for an introduction and hear more about how we can support you.
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