The Great Resignation refers to the estimated 33 million American workers who have resigned from their jobs since Spring 2021. The exodus is primarily being led by people at or near retiring age and workers opting for more flexible and remote work arrangements in order to accommodate personal needs as the pandemic continues. This shift is causing a major talent drain across franchise businesses, SMBs and even entire industries. Not to mention, recruiting and hiring new talent is costly in terms of time and money and competition is at an all-time high.
According to the Society of Human Resource Management, the average cost per hire for a recruit is $4,425 and $14,926 for an executive position. The average time to fill a position is 42 days.
The data hits close to home. A recent study conducted by the Small Business Association of Michigan found that 35% of small businesses have experienced a decrease in their workforce size, with 12% seeing a decrease of more than 20%.
Today’s workers are looking for hybrid work options with work-life balance, quarantine and personal preference being a few popular reasons as to why. Save yourself, and your business, the headache of losing and trying to replace great employees by offering your current workers hybrid work accommodations. Transforming your company’s workplace model into a hybrid one is surprisingly easy to achieve through a few simple IT upgrades.
Plus, there’s great upside in making the switch. A recent report from Owl Labs found that those who work remote work one more day per week and are 47 percent more productive. Additionally, a Stanford study found that workers reported improved work satisfaction and attrition rates were down 50 percent.
Make an impact on your company’s bottom line and corporate culture with a viable work from home solution. Sufficient connectivity, collaboration tools and cybersecurity are key. Maven IT offers all of the following as part of our Managed Remote Work Solutions:
- Secure Network and Connectivity
- Business Grade Bandwidth for Company and Home Offices
- Antivirus Protection
- Communication, Collaboration and Video Conferencing Tools
- Complimentary Support
