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The Great Renunciation is burning those who remain. This is what they can do

2021-11-04T19:07:12.829Z


"It's a vicious cycle," says one expert, "employees leave, which means all their work has to be done by the employees who stay."


By Sharon Epperson and Michelle Fox -

CNBC

+ Acorns

New Jersey-based project manager Carol Sloane is burned out.

Several members of her team have left in recent months, which has meant increased responsibilities and new projects for her.

The result is a longer workday.

"There are not enough hours in the day to do some of the things that are asked of us

," Sloane said.

Much has been made of the Great Renunciation and the large number of workers who want to quit their jobs.

A record 4.3 million people left their jobs in August alone, according to the Labor Department.

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Those left behind feel the blow.

According to a survey by the Society for Human Resource Management, 52% of those who decided to stay in their job said they had taken on more responsibilities.

In addition, 30% say they have difficulties doing the necessary work, 27% feel less loyalty to their organization and 55% wonder if their salary is high enough, according to the survey, which questioned 1,150 employed adults in July .

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“There is a

vicious cycle.

Employees leave, which means all their work has to be done by employees who stay, ”said Johnny C. Taylor Jr., president and CEO of the Society for Human Resource Management.

“Employees who stay now say: I am working too hard, I have no balance in my life.

And then they want to leave and so the vicious cycle continues, "added Taylor.

Employers undoubtedly know that they have trouble retaining their workers.

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49% of executives say their organization is experiencing much higher turnover than usual in the past six months, according to the same survey, which also surveyed 220 executives in July.

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In addition, according to this society,

it costs an average company between six and nine months of an employee's salary to replace him.

For a person making $ 60,000 a year, this amounts to between $ 30,000 and $ 45,000 in recruitment and training costs, according to the organization.

Ask for help

If you feel like you're overworked and struggling, it's critical to have an honest conversation with your chief of staff, Taylor said.

“This is where empathy comes in to say: listen, I'm taking the workload of two people now, and I need some help.

I need a break.

I need your sensitivity, ”he added.

Negotiate with your boss

If you're looking for a higher salary, better benefits or another advantage, you'll have to be willing to walk away, said leadership and career transition coach Alex Durand, founder of Los Angeles-based Frable Consulting.

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"Employees who decide to stay with your organization only have influence if they are willing to look elsewhere if their employer is not willing to play ball," he said.

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Before having a conversation with your boss, confirm what exactly you want, whether it's time off, extra resources, more money, or a promotion, advises Caroline Ash-Levine, founder of DreamCareerClub.com.

Even if you think it's all of the above, prioritize your list, he cautions.

Next, make an appointment with your boss to present your case.

"Treat this like a negotiation - have answers to what you think your manager might object to, expect to go back and forth and not get a decision right away," Ash-Levine said.

Explore your options

Although career management should always be ongoing, it is especially important to pay attention to it at this time.

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"If you are above average in what you do and decide to stay in your organization without exploring what the market will pay for your work, chances are you are limiting your cap in the long run," says Durand.

"A market that favors candidates over employers is rare and we may not see it again for a while, once the big remodel sets in," he adds.

Durand thinks it can last six to 12 months, while SHRM's Taylor calls it a 24- to 36-month problem for employers.

What entrepreneurs can do

Not everyone necessarily wants to quit their job, but those who are burning ask for help.

“I like my job, but I would like more resources to achieve a better work-life balance,” says Sloane, the project manager.

You would also like to be recognized for your hard work with a pay raise or a one-time bonus.

Employers need to show more empathy with their employees, listening and addressing any issues, Taylor explained.

They should also consider bringing in other workers to help fill the gap until permanent hires are made, he added.

Another way to be proactive is for managers and directors to identify talent they don't want to lose, Duran suggested.

"Invest in them today," he said.

"Show them you care before they tell you they're leaving."

This article is part of the 

Invest in You Ready series.

Set.

Grow

 (Invest in you: Ready. Done. Grow), an initiative of CNBC and Acorns, the microinvestment app.

NBC Universal and Comcast Ventures are

Acorns

investors 

.

Source: telemundo

All news articles on 2021-11-04

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