Aug 20, 2021 - Economy & Business

Employers grapple with fallout from the Great Resignation

Reproduced from PwC U.S. Pulse Survey Report; Chart: Axios Visuals

Companies want to protect themselves from the impact of employees leaving in droves.

Driving the news: In PwC's latest U.S. Pulse Survey, nearly half of executives said they want to reduce their dependence on employees’ institutional knowledge.

Why it matters: The Great Resignation is underway, and employers are grappling with the fallout.

  • A whopping 65% of employees said they are looking for a new job, according to PwC's survey, conducted Aug. 2-6, of 1,007 employees and 752 executives in the U.S.
  • Not surprisingly, 88% of executives said their company is experiencing higher turnover than normal.

What they're saying: Reducing dependence on institutional knowledge largely means automating more processes, said Bhushan Sethi, PwC's global people and organization co-leader, on a call to discuss the findings.

  • "Part of that has to do with a talent challenge," he said. And if more processes can be digitized, it also allows companies to upskill their workforces and help employees become more productive, he adds.

Bonus stat: PwC also took the temperature of receptiveness to vaccine mandates. About two-thirds of both employees and execs said they're in favor of a vaccine requirement for employees returning to the office.

  • Around 25% of total respondents strongly disagreed with vaccine mandates.
  • But sentiment varies by region: In the Northeast, just 13% strongly disagree.

Go deeper: Younger employees fear being left behind by remote work

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