How to Prepare Your Business for the Great Resignation Wave

Businesses that survived the pandemic may soon have another problem: a quarter of their staff may leave their jobs.

According to a recent Microsoft report called “The Next Great Disruption is Hybrid Work – Are We Ready?” up to 41 percent of workers globally are thinking about putting in their notice.

Called the Great Resignation Wave by some economists, the “wave” appears to be due to:

  • Employee burnout;
  • Re-evaluation of work-life balance or career paths; and
  • A reluctance to return to the office after working remotely.

How to prepare your business for the great resignation wave

Although there’s no way to predict for sure if and how the wave will affect your business, all business owners should have an employee exit strategy in place for when workers leave their job. To safeguard the business’s assets, employers may wish to consider the following protections in the event an employee leaves:

Make sure employees sign appropriate exit documents, which may include Confidentiality/Non-Disclosure, non-competition, or non-solicitation agreements.

  • Non-compete - A non-compete agreement is a legal document that protects business owners by preventing employees from working for competing businesses for the time stated in the agreement.
  • Non-solicitation - A non-solicitation agreement is a covenant between an employer and employee that prohibits workers from utilizing a company’s customers, clients, and contact lists for personal gain after leaving the company.
  • Confidentiality/Non-Disclosure - A Confidentiality/Non-Disclosure agreement is a contract signed by the employee which protects trade secrets, confidential, and proprietary information.

Remind employees of their contractual obligations

It is possible employees will not recall what they signed during the onboarding process, so employers may wish to remind workers of their contractual obligations. Employers should remind the worker during the exit interview or by sending a letter. This action may help prevent theft, sharing of information, or other unwanted behavior.

Help is available

If you suspect an employee or former worker is violating his or her contractual obligations, it is important to act fast. Contact one of the attorneys at O’Reilly Rancilio at 586-726-1000 or by visiting our website.

Categories: Business