Jennifer Lallite is of counsel at Edlin Gallagher Huie + Blum. Views are the author's own.
In one way or another, we have all become acutely aware of the deleterious effects of the pandemic on our lives, the nation and the world at large. COVID-19 has radically shifted our social interactions at home and in the workplace, our travel habits and the global economy.
One of the more troubling trends arising from the pandemic has been paradoxically dubbed the "Great Resignation," also known as the "Big Quit," to describe the deluge of employees who began quitting their jobs in or around April 2021 and continuing with a record high of 4.5 million workers resigning in November alone. As a result, employers across several industries are left scrambling to fill open positions. Along with a reduction in customers, staffing shortages and employee turnover are wreaking havoc on companies' financial stability.
As employers struggle to confront and mitigate the problem, many will continue to flounder for one basic reason: lack of insight about why employees quit — but savvy employers will strategize to stem this resignation tide.
Investing in diversity, equity and inclusion is a great place to start. Such programs empower employers to attract and retain team members from historically underrepresented communities. To do it right, companies need a clear roadmap and buy-in at all levels of the organization.
Invest in your existing workforce
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