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The Big Quit: Where Do People Turn to Make Money?

The Great Quit has been a huge talking point – with 4.3 billion Americans quitting their jobs in December 2021. So many business owners are wondering: why did these people leave and where did they go? ?

Business owners, especially those experiencing a large exodus from their office, need to be aware of the reasons employees are leaving, so they can address these issues and create a place where people are happy to work!

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Here are four different reasons why people leave their jobs and how business owners can keep their employees:

Seek a deeper emotional purpose

During the pandemic, people have taken the time to reassess themselves. This has resulted in them quitting their disliked jobs to seek a career that will give them purpose. They look for jobs that match their passions and make them feel good. Finding the passions of their employees, drawing inspiration from them, and bringing them into the workplace is essential for employers to keep employees engaged and happy. If you’re an employer, find out what your employees’ passions are and how you can put them into practice in some way in the office. For example, if they teach yoga, have them give an afternoon yoga class at the office, to indulge their passion.

Demand for better wages

The pandemic has also made people suffer financially. Many workers have been underpaid and left their current jobs to find something that will better support them and their families. If you are an employer, find out how/if you can offer your employees a better salary. Work with your accountant and see what your salary budget looks like and see if you can negotiate with your employees to encourage them to stay. Be sure to do a thorough analysis to find ways to increase employee salaries, without raising the price of your products/services too much, as this could lead to a decrease in your customer base.

Increased awareness of mental health

Mental health has suffered a lot because of the pandemic. Everyone realizes how important their mental health is and if their job is causing them any kind of mental strain, they have looked for other jobs. If you are an employer, consider providing mental health resources to your employee, i.e. offering funding for counseling or therapy. Also find out if the work environment is toxic to your employees and take the right steps to address it.

Go to work on demand

There is an abundance of on-demand work opportunities. Gig work is any type of freelance work where you can choose your hours, like driving for Uber. With the rise of gig work, many people can quit their jobs and do odd jobs to earn a living. Employees go for on-demand work because of the flexibility it offers. If you’re an employer, see if you can create an on-demand work component of your job to give people part-time flexibility if that’s what they’re looking for.

Employers are going to have to work hard to recover from the big resignation and make sure their employees want to keep their current job. Be sure to foster an amazing work environment where employees want to stay! Assessing the business from the inside and talking with current staff to find out their wants and needs can help improve things and retain the employees you have.

AUTHOR: Wayne Goshkarian is the director of communications for the Scottsdale-based Association for Entrepreneurship USA, where he helps entrepreneurs across the country start, establish and grow their businesses.

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