What is the Great Resignation?
Beginning in early 2021, employees in Western countries, China, and India began willingly resigning from their jobs in unprecedented numbers. This economic trend is known as "The Great Resignation." Possible reasons include income stagnation despite the increased cost of living, persistent job dissatisfaction, COVID-19 safety concerns, and a desire to work for organisations with superior remote-working practises.
The term "Great Resignation" was coined by Anthony Klotz, a professor of management at University College London's School of Management, in May 2021, when he predicted a sustained mass exodus.
Excellent Opportunity to Attract Dissatisfied Talent
There is a major labour shortage in the engineering sector. The decline in young people entering the industry and the retirement of baby boomers has meant that many jobs are left unfilled. The Great Resignation is currently making things more difficult for some businesses.
The Great Resignation is however a potential opportunity for smart engineering companies to hire skilled employees and take advantage of a bad situation.
To put it simply, the Great Resignation presents an unexpected opportunity for engineering firms who provide attractive packages. Employees from all industries, including those in engineering, are quitting their employment because they're not happy there. It's important to remember that many of these workers who are quitting their employment still intend to work in their field.
There are engineering firms that can provide the kind of opportunity that resigned employees are seeking. These businesses will be in a position to attract more talent. This is particularly helpful given the large number of open positions in the industry.
Engineering companies must seize this chance by highlighting the advantages of working with them to potential employees. There are several ways to stand out, from high pay to a fantastic work environment.
Offering Meaning and Value is Crucial
Although it certainly matters, salary is often not the most important factor of an engineering job. The majority of skilled professionals claim that their overall satisfaction is significantly impacted by the meaning and value they place on their work.
Employers in the engineering industry can heed this advice in two ways. To keep present workers, they must first continue to provide them with purpose and value. Second, they ought to make that goal clear to prospective recruits. Both those who are presently employed in the construction sector and those who have left other connected industries may be drawn to it.
A Great Opportunity to Diversify the Workforce
The Great Resignation also offers an excellent opportunity for engineering companies to diversify their workforce. The industry can expand to include underrepresented groups. This would broaden the appeal of the sector to a wider range of people, in addition to those underrepresented groups.
Why Do People Resign and What Are They Looking For?
In summary, in order to recruit great talent during the Great Resignation, construction businesses can take the following actions:
If you want to hire people either from the construction industry or from another related sector, you will have to deal with some of the reasons why they left their previous jobs. Engineering professionals have certain requirements for their jobs, including the following:
Summary
Some businesses are worried about The Great Resignation, especially given the labour shortage in the engineering sector. However, it really should be considered as a chance for businesses to hire top people from other engineering companies and other industries. Astute companies will seize this opportunity by stepping up their recruitment efforts and emphasising the advantages of working with them.
How can we help you?
Are you searching for an opportunity in the industry or a hiring manager in need of engineering talent? Get in touch today getus@jamesgrayengineering.com
