The Great Resignation is now The Great Renegotiation
How credit unions can retain loyal employees and attract top talent
The Great Resignation—the name given to the enormous wave of workers quitting their jobs over the past three years—is still going. Don’t let the lack of media attention around the topic convince you that this trend is over; it just keeps getting a new name.
Today, the Great Resignation is no longer about resignation. It’s about employees taking back power from employers. Until employees feel they have come to an agreement on work-life balance, the renamed “Great Renegotiation” will continue.
On average, 4 million Americans quit their jobs each month in 2022, with a projected 40% of employees thinking about leaving their jobs within the next three to six months, according to Zippia.
Those in the credit union industry who have felt the impact of this trend are trying to figure out how to retain and attract employees. The best way to start is to understand why employees choose to leave in the first place. If credit unions prioritize listening to what employees want, maybe this trend can finally be put to rest.
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