What is The Great Resignation Impact on Sales?

What is The Great Resignation Impact on Sales

Since 2021, the number of workers resigning from full-time paid jobs has increased significantly, more than at any other time in recent decades. The massive disruption in the workforce of industries has clearly impacted sales significantly and disrupted the way businesses think and operate in the US and the world at large.

Meaning and Significance of the Great Resignation

The term, ‘Great Resignation’ first came into use by University Professor, Anthony Klotz, back in May of 2021 when he explained it to be a large scale resignation of workers from their employment. Although there are several factors that have triggered the Great Resignation, Prof. Klotz suggests the primary factor was the Covid-19 pandemic itself.

The trend of workers’ resignation has continued since 2020. It’s not surprising, however, when you think of the fact that remote employment has grown very popular as well.  The pandemic may have been the catalyst for the great resignation to begin, but it also opened up a new era in remote employment.

Why the Great Resignation?

According to industry observers, many factors account for the Great Resignation. The first concern is the Covid-19, which we mentioned already. Other factors are listed as follows:

Burnout: People suddenly got tired of their fixed jobs, feeling that they have outlived their time in a specific organization and should move on to other things. Feelings like these are the result of immense social, psychological and environmental pressures. It can even give employees a sense that if they don’t resign, they might implode from within. A lot of employees from across various industries have experienced burn outs, particular after the pandemic.

Lack of Flexibility: More people are opting for flexible employment opportunities that are flexible. People want to remain in control of their lives and their time. They don’t want to be confined to routine work. If employees find that the job is continuously demanding more and more of their time, the result would be resignation. People want the freedom to explore and grow in life within a work environment that guarantees that. This is the number one reason why remote work is gaining momentum currently.

Lack of Growth Opportunities: People feel more satisfied and secured when they work in a company that promises growth opportunities. They can grow from one level in the chain of hierarchy to the next, progressively, within a transparent process. Without growth opportunities, workers are less motivated to be their best at work and they tend to move on after a while.

Feelings Undervalued and Unappreciated: When employees don’t feel that they are appreciated in the company, it is likely to rob them of zeal; they lose motivation and will soon find an exit from the job. Even something as simple as a phone call from the supervisor or a handshake from the manager will help to make employees feel valued.

Feelings of Purposelessness: It is important that employees feel a sense of purpose and fulfillment at work. They must have a sense of self-worth and understand their significance in the grand scheme of things. However, if the employee lacks a sense of purpose, they will most likely leave after some time. It is the company’s responsibility to create a work environment in which everyone feels a sense of purpose.

How the Great Resignation has Impacted Sales

The Great Resignation has had a profound impact on sales, no doubt, and the ripple is still being seen and felt. To begin with, there are attendant implications involved when businesses lose workers from their sales team at a rate higher than they’re being replaced. This is likely to slow business and would certainly affect sales turnover of companies directly.

So, businesses serious about remaining relevant in the ever-evolving market are expected to take proactive steps constantly. They must ensure that there’s contingency in place to meet the challenges of the Great Resignation when it hits home.

On a final analysis, the Great Resignation has impacted sales in the following ways:

  • Due to the economic uncertainties following the pandemic and crash of foreign exchange, companies are being very pragmatic, cutting down on budget and expenses. In effect, because companies may be going through hard times, the sales team is always on the receiving end, since they are pressured to perform and raise profits for the company.
  • As a result of the Great Resignation, those in Sales Teams are seizing the opportunity to stake their claims by demanding better salary and rewards, and better treatment.
  • The Great Resignation has also forced organizations to take a second look at their in-house HR policies. Is it people-focused? How do they meet the needs of the employees? It is in the best interest of companies to imbibe business models that support employee’s growth and career advancement. With that, the company can count on and rely on the loyalty and commitment of their team.

Ways to retain the best talents on your sales team

It’s great when you have great people working for you, right? But without the right structures put in place, you’re soon going to lose your best hands. So it’s important you consider steps to take to not only hire quality talents, but keeping them as well, because your sales will keep suffering if you’re unable to retain good people on your sales team.

Consider the following ways you can retain the best talents on your sales team and guard against a mass resignation of your people:

  • Be in charge of your talent Development and recruitment Process: It’s your job to train your people, grow them, nurture them, and then you can retain them.
  • Revamp Your Management Style: change your management style and policy be people-focused and team oriented. Tell your people that it’s your business, together, all of you. It’s not ‘me’, it’s ‘us’. Also, appreciate your team, in words, in kind, in rewards, salary package, etc.
  • Feel the needs of your people: definitely, you have to be there for them if you want them to be there for you. Create a family atmosphere, so to speak. Your employee’s wife is going in for surgery? You’re keeping in touch and asking him about development. That’s how it works.
  • Be as transparent and open as possible: No ambiguity or shady atmosphere at work; you have to be transparent with your team concerning what is possible and what isn’t, and what you expect from them. Rather than blowing up on a short fuse now and then and keeping your employees on a leach, just let them know what the goal is for the business. If you’re clear about your objectives as a business, everyone can get on same page with you and it will ensure sales productivity in the long run.
  • Be accessible: Don’t always lock yourself behind your office door so your employees can’t reach you. Let them have access to you. Let them be able to reach you when they have to. It’s important. Also, let them have access to your team leaders as well. Junior workers shouldn’t necessarily be alienated and reminded of how insignificant they are in the scheme of things.
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