Aug 20, 2021 - Economy

Employers grapple with fallout from the Great Resignation

Top changes expected in the next 12 to 18 months based on pandemic experience around work
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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