Current headlines read like a menu for the coming managerial appocolypse: “The Great Resignation: Why Millions are Quitting Their Jobs“, “The Great Resignation Continues“, or even “Great Resignation, Literally Worse Than Hitler.” But as we’ve all come to know, and hopefully expect, headlines are meant to attract attention. And in each of these stories, not only have they buried the lede, but they have missed the point. The so called “Great Resignation” isn’t a calamity, it’s an opportunit and instead of worrying, you should be celebrating.
Like most students matriculated at any one of the numerous International College of Businessry and Managering campuses across the globe, nearly every attendee at the plethora of ICBM seminars, and the readers of our extensive series of management books, you probably wonder how this could be an opportunity. Two words: opportunity cost. By focusing on the cost, you will see the opportunity.
If you learned only one thing that Fred E. Frederickson tried to teach in the elucidating ICBM post “Conflict of Interest“, it’s that to resolve the Conflict you need to first consider the Interest. The same managerial paradigm shift must occur here as well.
The term “Opportunity Cost” is tossed about without much understanding or care as to the true meaning. Correctly defined as “the loss of value or benefit that would be incurred (the cost) by engaging in that activity, relative to engaging in an alternative activity offering a higher return in value or benefit.” In other words, the cost of doing one thing rather than another. Simple enough. But how does that apply to the Great Resignation? Also simple.
In this case it costs money to keep employees employeed, but it also costs money to layoff an employee. Many consultants will advise you to pay money to stop paying money (and you can be sure they’ll charge you money for the privilege). We’re here to offer another solution. The Great Resignation is your opportunity get rid of people for free!
Hate doing performance reviews? Let the Great Resignation handle it for you by reducing your head count.
Over budget? Let the Great Resignation handle it for you by reducing your head count.
Bored on a Thursday and need a quick managerial pick me up? Let the Great Resignation handle it for you by reducing your head count.
So that’s the what, but what about the how? Specifically, how do you leverage the Great Resignation? ICBM is here with some phrases that might help make your resignations even greater:
- Someone with your skill set has so many opportunities out there.
- I shouldn’t say this but new hires are getting so much more than current employees.
- Remember, you don’t have to work here.