EFFECTS OF THE GREAT RESIGNATION

The Great Resignation is affecting companies throughout North America. This employment shift is the combination of pre and post-covid factors. First, let’s look at the stats.

Anthony Klotz first created this term from Texas A&M University in 2019 (Source)

2.7% of US workers quick in April 2021 (US Department of Labor – Source)
2.9% quit in August 2021 (US Department of Labor – Source)
94% of US retailers are having difficulty filling open positions (32% say they are facing significant problems)(Source)
Microsoft survey asserts that 41% of global employees are considering leaving their job (Source)
Gallop found that only 20% of the global workforce feels engaged at work (Source)

PRE-COVID FACTOR

Baby Boomer Putting Off Retirement

A significant contributor to this shortage is that Baby Boomers are starting to leave the workforce. Pew Research asserts that Baby Boomers stayed in the workforce longer than previous generations. The Baby Boomer generation was born between 1946 and 1964.

The oldest among this demographic is still in the labor market. This is the highest rate in 50 years.
29% of Boomers from 65 to 72 were working in 2018
34% of Boomer men from 65 to 72 were still working in 2018 (highest since the 1970s)

Source

POST-COVID FACTORS

The Vaccine Debate

Healthcare organizations are preparing to lose significant staff over the mandated vaccine policy. A new policy for hospital workers begins on Jan. 4th, 2022. A recent Fox News article suggests that a third of their staff will leave due to this mandate. (Source)

Remote Working

Many organizations are excited to return to normal with their employees returning to the office. Due to COVID, many employees have had the time to look at other employment options. As a result, many of these resignations are due to employees demanding that they stay as remote workers.

IS YOUR ORGANIZATION ON THE WINNING OR LOSING END OF THIS ‘GREAT RESIGNATION?’

Is your organization winning in this ‘Great Resignation?’ For these winners, remote work will be an emerging hybrid in-person and remote work model. A big part of this new reality is rethinking how an organization onboards new remote workers. This training in person is expensive and time-consuming. We advocate a new approach. A new system that will help you win in the great employment shift.

VR Training Can Be More Effective at a Lower Price

The benefits of immersive training include lower costs, increased employee engagement, and the ability to mirror real-life situations. (Sources – Accenture / Deloitte)
VR can provide better outcomes than many traditional learning methods. Source

VR Training is Fun and Engaging

VR can build in gamification.

This immersive learning is fun, engaging, and interesting. As a result, VR leads to better retention. Source

GETTING STARTED

Contact our team at contact@topointc.com for a demonstration of what it now possible for your organization.