Editor’s note: We are re-running the top stories of 2021 as part of our year-end countdown.
Are employers powerless to stop “The Great Resignation?”
Some days, it sure seems that way. Like a nationwide game of musical chairs, millions of people are leaving their jobs, costing organizations millions of dollars.
In a year when many businesses are trying to recoup the losses suffered during the first wave of the pandemic, this pattern is even more devastating. Many are asking if they should offer more money to their remaining employees to try to keep them from leaving. They’re considering more money in signing bonuses and other incentives to try to attract new talent, or spending more on training, nurturing, and providing a supportive, safe physical environment. Of course, then they ask where else the budget can be trimmed to keep the books balanced.
The truth is that money alone can’t and won’t meet the deepest needs that people have right now. No matter how much money you spend or how you spend it, if you aren’t meeting specific, universal human needs, you’re only applying a temporary patch to a hole that’s been leaking for a long time.