How the companies that went about downsizing during the pandemic can impact their current attrition rates massively. There are several reports that show how employees are looking to quit their jobs and sail into other ships. Can we call it a revenge resignation then? Maybe!
Layoffs during the pandemic were a part of the big prime-time stories. It is still there! Startups and established Unicorns are sacking their employees like there’s no tomorrow. The whole of India Inc already was a part of a big layoff season during the pandemic. Even legacy firms were a part of it! However, soon the tables might turn.
There are several reports that show how employees are looking to quit their jobs and sail into other ships. Can we call it a revenge resignation then? Maybe! Take an example: Better.com fired more than 1,000 of its employees abruptly one day. Post this incident, the company’s CEO, Vishal Garg got trolled hugely by the netizens. Hence, Garg took a long leave from his company. It looked like he disappeared. But one fine day, he returned, and his return wasn’t accepted wholeheartedly by the employees. Result: There was a spiral effect in the company, causing plenty of resignations.
This can be termed Revenge Resignation! Prasanth Nair, Chief HR Advisor, TVS Capital Funds, tweeted, and we quote, “Came across a term today “Revenge resignation”. Got the mention from someone who said his resignation is his response to the way his organisation sacked his colleagues during the pandemic.”
However, Anish Philip, Chief People Officer, CSS Corp, believes that trends like this are short-lived, and an empathetic HR approach can help organizations thrive in circumstances such as these. He adds, “The business reasons and economic considerations backing up this trend are beyond HR leaders’ control. Revenge resignation seems to have emerged as a ripple effect of the mass layoffs that we witnessed in the last couple of years.”