The Great Resignation: What Is It & 2 Ways to Take Advantage of It

December 7th, 2021

The great resignation is happening. We are now on the path of economic recovery from the pandemic. Working during the pandemic caused a lot of stress and burnout. This caused a lot of people to stop and think about their careers. There was a lot reported about people quitting their jobs without a backup plan or changing careers. They are re-evaluating what is important to them personally and professionally.

what's the great resignation

Even though this is not happening in Canada at a rate that resembles what is occurring south of the border, it is still important to pay attention and look for things you can learn about how you run your company. There are a lot of potential lessons.

Below we’ll talk about what the great resignation is and outline what candidates and companies can learn from this situation.

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What Is the Great Resignation?

The great resignation is the current trend of employees choosing to leave their jobs. This phenomenon has primarily taken place in the United States. It has not been a significant factor in the Canadian marketplace, but there is always the possibility we could experience a similar situation in the future here in Canada.

Also referred to as the “Big Quit,” it started in spring 2021 and is ongoing. People are choosing to resign from their jobs as a response to working conditions created by the pandemic. The two most cited reasons for employees walking away from their jobs include:

  • Lack of worker protection
  • Wages not meeting the rising cost of living

How Employers Can Take Advantage of the Great Resignation

No employer wants to have employees quit at an alarming rate. It could cripple your ability to operate. So, now is a time to reflect and reinvent company culture to address the issues and concerns of your employees.

1. Reinforce company culture and reflect the new reality

Offering remote or hybrid work solutions, greater flexibility, and creating a safer work environment are only some of the things you can do to reinforce your company culture. This will help you retain your people.

2. Recruit top talent who are ready to make a move

Seeing a mass resignation is also a recruiting opportunity. If you are an employer that shares the same values as the people who are exiting their jobs, and you can become a destination for these people, you could significantly upgrade your talent.

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IQ PARTNERS is an Executive Search & Recruitment firm supporting clients across the country. We help companies hire better, hire less & retain more. We have specialist teams of recruiters in Executive Search / Board & C-Suite, Technology, Media, Digital & Marketing, Accounting & Finance, Financial Services & Insurance, Cannabis, Startup, Data Science, Consumer, eCommerce & Retail, Operations & HR, Manufacturing, Supply Chain & Engineering, Legal & Professional Services, Pharmaceutical & Life Sciences, Non-Profit & Sustainability, and Sales. Click here to view current job openings and to register with us.

Priscilla Poirier Toronto Financial Recruiter

Priscilla Poirier

Priscilla is a Recruitment Consultant whose primary focus is recruiting for contract positions within the IT, Finance, and HR functions. With more than four years of experience as a specialized contract recruiter, within the IT & Finance sectors, Priscilla truly enjoys what she does. She loves that recruitment allows her to meet amazing new people every day, and is thrilled when she can make someone’s day by letting them know they GOT THE JOB!

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