How to position your credit union to avoid The Great Resignation

It’s no secret that U.S. workers are leaving their jobs in record numbers in what’s been dubbed ‘The Great Resignation.’ More than 11 million workers left their jobs between April and June of 2021 according to the U.S. Department of Labor. And a study by Adobe, the software and data analytics company, found more than half of the younger respondents ages 18-24, or Gen Z, reporting that they intend to leave their job within the next year. Of the Gen Z respondents, 59% reported dissatisfaction with their jobs and 52% were unhappy with work-life balance.

The driving forces behind The Great Resignation are complex and varied, but not surprising. The pandemic has significantly altered not only how people work, but how they think about work. Employees are reconsidering their priorities when it comes to their jobs and are more open to new opportunities that better align with their values and needs. Stress, burnout, dissatisfaction with leadership and layoffs are among those factors pushing people to seek better work environments, whether in-person, work-from-home or hybrid.

For knowledge workers, remote/hybrid work is no longer a job perk, but a requirement. People are realizing they can work very effectively without spending several hours per week commuting to an office. And work-from-home flexibility is a must for millions of families with school-aged children who might be sent home at any time to quarantine for several days due to a COVID-19 exposure. In a pre-COVID era, this kind of disruption to a household’s routine would be untenable.

 

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