The Great Resignation. The Big Quit. The QuitTok.
This is the current trend in employment and staffing that started in the middle of the pandemic. Some have referred to the movement as a great migration (which we will discuss in upcoming posts) however either way you frame it, the state of business has changed.
According to Deloitte’s recent study Women@Work 2022: A Global Outlook women currently account for 40% of the total resignation pool. A survey by Morning Consult for Prudential has found that 46% of full-time employed US adults are either actively looks or considering a new job search.
Pay rises topped the responses with the lack of availability of skilled talent driving wages up for successful candidates who are willing to move. With this companies have now started to provide additional incentives and packages to retain staff and ensure business continuity.
So why is there a phenomena of mass resignations when there is a pandemic?
The Pandemic Conundrum
Anthony Klotz, a professor from Texas A&M University coined the phrase “the Great Resignation”
He said that “The pandemic forced people to take stock of their lives and gave them the opportunity to re-imagine it.” COVID-19 has given people the opportunity to evaluate their priorities and actively take action to make it happen.
The Great Resignation Effect
The acceptable is no longer accepted.
That is the new mantra here. With employees asking- nay demanding better pay and perks, employers are growingly at a disadvantage needing to continually innovate, increase overheads and operating costs to meet staff capacity.
Human Resource teams are in a frenzy to fill in vacancies. A rework and rethink of how to effectively incentivize employees is currently underway. This has influenced recruitment strategies and has added additional stress to business operations.
The Solution – Outsource to the Philippines!
Outsourcing is one of the prevailing solutions to this problem. Here is what you need to know about outsourcing:
- Time and cost-efficiency
Hiring takes a lot of time and a large budget to continually source and place inexperienced staff. With outsourcing, you tap into in-house recruitment teams and capability at a fraction of the cost and time with your outsourcing provider helping you find the most qualified staff.
Outsourcing provides high-performance outcomes at a fraction of the cost. Hiring degree qualified staff certified in your field that can hit the ground running in your time zone means business continuity and allows you to focus on the high value functions of your business.
- The Philippines
While Filipinos have not been immune to the pandemic, they have high regard for work. Their families are their utmost priorities and providing for them is a top concern. Work Dynamics help mitigate employee turnover, as Filipinos consider their co-workers families. Stronger ties to the company help decrease the attrition rates. People who have great relationships at work have higher level satisfaction and engagement.
- Keep It in Your Time zone
The Philippines aligns perfectly with Australia (day shift) and the US (night shift) meaning your team works when you do, your team, your way.
- Language Proficiency
The Philippines is in the top 10 largest English-speaking countries in the world with around 115 million people with English the primary language used in business, both domestically and internationally. English is taught from birth in households and used during the whole period of schooling, and university. The Philippines also boasts an English “high proficiency” rating in global banding.
- Cultural Alignment
Being a former US colony and having a 90% Christian population the Philippines is highly aligned with ‘Westernized’ culture. Most major American retail brands operate in the Philippines with infrastructure planning, look and feel of major cities being closely aligned with western countries.
- Skilled Human Capital
With a record of accomplishment of 25+ years as a global outsourcing centre, having recognised certifications across a range of professional services and with an available workforce pool in the tens of millions, the Philippines is strategically placed to accommodate growing labour shortages being felt in developed countries. Local universities and colleges annually produce an additional 500,000 + graduates to the pool of skilled and qualified workers.
As ever, our team is always on hand to not only provide the highest quality offshore staffing solutions, but also to ensure that your streamlined business collects every possible benefit from their challenging work. We are partners in your success and want to see you realise the full potential of your operation. If you’d like to take that next step, speak to our team today.