Certainly, we can’t fix what we fail to understand- we have to make concerted efforts to better understand why the repercussions of the pandemic surfaced and how to tackle them. Or Simply put, why is there the fear of getting laid off? Over the past 24 months, I have seen a decent amount of attention around the organization’s growing attrition rate and their potentially un-retainable workforce as every mouth is talking about the Great Resignation – as a result of this mass exodus, many employees have willingly taken a back seat when it comes to their jobs. before their employer would actually lay them off. I somehow believe that every downturn is followed by a new era-defining upturn, and guess what? 2022 proved to be just that.
The pandemic surfaced, but what went wrong with the organizations and with the workforce? While this is definitely something that we are seeing transpire, my perspective on people being told to leave is a bit different.
I would rather prefer labelling this as the ‘Great Redefinition’ rather than calling it a wave of ‘Great Resignation’.
Especially for our organizations- Cloud Analogy, Forcebolt and now LearNowX- we discovered something unforeseen, and it was definitely, the urgency to get SKILLED to sustain in the job market. Let me spill some facts that may be grim, but are true.
As the world is stumbling towards the Covid-19 recovery, experts warn of a surge of voluntary employee departures, similar to the “Great wave of Resignation.” For instance, one study estimates that 55% of people in the workforce in August 2021 intend to look for a new job in the next 12 months.
According to the latest Jobs Openings And Labor Turnover report from the U.S. Bureau of Labor Statistics, the trend picked up momentum again in November—a record 4.53 million Americans quit their jobs. While the world was juggling amid tackling the unprecedented resignation of employees, the employee attrition rate in Cloud Analogy was less than 4%, whereas it was 25% across leading tech organizations.
To counteract the incoming wave of employee turnover, Cloud Analogy— more than ever — started focusing on cultivating employee engagement. Cloud Analogy has always been prepared to take care of its employees in all ways possible.
So, we started off with an experiment, called “mending the broken thread”.
We invited students to join our free seminars on skill development and “What Recruiters Want”. At every college we went to, more than 300 students joined, and as we continued with the seminar, there was a sense of fear of “uncertain unemployment” showing up on their faces.
No denying the fact, just like me, other entrepreneurs also understand what it takes for new-age aspirants to grab a job. It’s not the fancy college they went to, not the newly upgraded watch or phone (hard but true, sigh…) sometimes, not even their marks, what it takes for students to succeed in their skillset and their ability to perform in the longer term as the market changes.
Colleges today focus more on narrowing down the syllabus and finishing it as soon as possible. Especially in the age of the digital realm, when colleges have successfully made their way to the 14 inches mobile screens, organizations are concerned- more than ever- about the workforce. As a result, they tend to hire people only with hands-on experience, even when hiring for a fresher (as most of you have seen on your LinkedIn).
It’s a vicious circle, where one needs experience for getting a job and vice versa, where we see a lot of aspirants failing to escape from this.
A healthy dose of fear is important; it helps you grow, but when the same fear becomes your weakness, everything starts scrambling.
So, We decided to find a way.
With our marketing and technical team’s help at Cloud Analogy, we decided to embrace inclusivity.
After months of market research, the result was LearNowX, a tech-enabled learning platform that helps you get skilled in exactly that subject that can get you your dream job.
LearNowx is a corporate training and skill development platform that transforms High potential aspirants into Industry ready professionals through highly engaged Hands-on training and industry use cases.
LearNowx provides a wide array of work experience programs for students/college professionals for them to build a genuine and successful career and thrive in their desired tech domain.
The platform provides two ways of assistance to both students and organisations, where Students can get upskilled in their field of choice and get hired by leading industry-oriented organizations, and organisations have industry-ready students with loads of potential for hiring.
Till now, LearNowX has benefitted more than 400 students to get their dream job; well, even if it’s not about the job, they gained skills and knowledge that will stay with them throughout their journey. and knowledge that will stay with them throughout their journey. If the past 24 months have taught me anything, it’s definitely the investments aspirants crave to make in their desired careers. Gone are the days when employees used to accommodate their lives around work. Instead, we’re now finding ways where work fits into their lives.
Now that the young aspirant is better able to figure out what they want, they work directionally. Due to this, when they get hired (equipped with the right skills), employees are now able to tap into their most efficient and productive selves.