If the economy is truly as bad as they say and inflation is hitting everyone, especially lower income wage earners, why is there a growing trend in the “GREAT RESIGNATION?”
This trend has a poor outcome for the employer when it costs $2500-$5000 to train in one employee and then having that employee walk off the job in less than 30 days.
There are a number of factors including low pay, lack of opportunities for advancement, and feeling disrespected at work.
- Low Pay
One of the most common reasons why employees with lower paying jobs leave the workplace is because of low pay. In the United States, the poverty rate for workers with a high school diploma or less is nearly twice as high as the poverty rate for workers with a college degree. This means that many workers with lower paying jobs are struggling to make ends meet, and they may feel like they have no choice but to leave their jobs in search of better pay.
- Lack of Opportunities for Advancement
Another common reason why employees with lower paying jobs leave the workplace is because of a lack of opportunities for advancement. Many low-paying jobs are dead-end jobs, meaning that there is little or no opportunity for employees to move up the career ladder. This can be frustrating for employees who are looking for ways to improve their lives and their financial situation.
- Feeling Disrespected at Work
Feeling disrespected in the workplace makes for a bad day and can be a huge factor in employees leaving. If employees were earning a low wage but loved their working environment and felt respected, chances are good they would stay longer..
What Employers Can Do to Keep Employees
There are a number of things that employers can do to keep employees from leaving their jobs.
Not all employers can offer higher wages as they may be struggling themselves to simply keep the doors open but they can offer small incentives.
- Employers could have end-of-month bonuses or contests for employees to get involved in.
- They could also give awards out to exemplary employees.
- Employees may be struggling and living “check to check” like 80% of the country is right now. The employer could offer them different pay structures and link with companies like RELLEVATE to offer pay in advance to help them when they experience a temporary financial crisis. This shows the employer is aware and does care about the employee as a person.
It’s the little things that often feel like huge gifts, especially a “thank you” at the end of the day!