As we wind down the end of quarter four, many are realizing just how deeply the Great Resignation, in conjunction with supply chain issues, has affected their consumer experiences. If you’ve noticed differences or shortages, you aren’t alone. The Bureau of Labor and Statistics reports that staff has quit at a staggering rate of 6.8%, causing ripples throughout the customer experience. Wait times have increased, food shortages have become more apparent, and customers are left wondering what’s changed.
This has resulted in increased attention to streamlining the food production process and requires companies to think creatively to address their own personal shortages and outages throughout their chain system. In this article, we discuss what the Great Resignation is, the effects that have occurred as a result, and offer recommendations for creative solutions your business can consider to reduce the risk of supply disruption in your industry.
What Is the Great Resignation?
The Great Resignation is likely something that you’ve seen in different headlines and news stories. This is the general name that was given to the period of April 2021 to October 2021, where a majority of the workforce was either reconsidering their current employment status or leaving their jobs altogether. This movement was so large that it garnered the attention of the Bureau of Labor and Statistics, as they reported that a record 20.2 million left their jobs for new positions, or started businesses and freelance initiatives of their own.
While the ripple effect of the movement was carried through small businesses and corporate entities alike, the messaging was encouraged and amplified by the use of social media accounts and initiatives. Companies that felt the impact of the movement soon realized that they needed to evolve their procedures to meet the demands of the dynamic post-pandemic era.
What Effects Occurred as a Result of the Great Resignation?
Effects of the Great Resignation began to show over the course of the summer, ranging from small-scale to large-scale ripples. Many began to feel the supply chain strain as dockworkers, foremen, and other critical individuals quit their jobs to seek more rewarding opportunities,
Beyond this, an uncertain haze had settled on employees of certain industries, struggling to carry the weight of their team’s absence. However, in the middle of these transitions, many companies saw new areas of improvement where they could create tangible change for their team members.
Some notable benefits that resulted from the Great Resignation included:
● Employee benefit reform
● Enhanced employee benefits
● Higher employee pay raises
● Additional employee training
● Regular employee check-ins
The changes didn’t stop there. Many businesses chose to put operations on hiatus and collaborate with their team to shift their entire focus and operational structure to fit the newfound demands of the changing time.
Tips for Implementing Organizational Change
While this type of change is necessary to succeed and prepare for the next large-scale global event, this wave of change has left many feeling uncertain about where to start. With so much conflicting and new information available, many businesses contributing to the supply chain are looking for clear guidance. Below, we summarize some critical steps that you can take to help your business find success in these dynamic times:
Enhance your stock tracking process
Over-purchasing and inconsistencies with your stock tracking can lead to significant supply chain issues around the globe. If you haven’t defined and created a stock tracking system that allows you to have full visibility and instant searchability, you may consider taking this step first as you work to make your business pandemic-resistant.
For those in the food and beverage supply industry, Inecta has created proprietary software that can help you do this easily ⸺ crafted utilizing a Microsoft framework that ensures you get the performance that you need with every use. Our system is cloud-based and allows all team members to enjoy easy tracking and search capabilities.
Conduct a supply chain audit
Your supply chain that provides materials for your business is likely multifaceted and complex. Because of this, an audit can be helpful to conduct alongside your team to ensure that everyone is clear about what process is in place to procure raw materials. A lack of understanding can undermine the efficiency of your chain.
An audit also allows you to identify possible areas of weakness and offers the opportunity for collaboration to address them successfully. This can be a critical step to help ensure your future stability and success.
Diversify your supply sources
While it can be easy to get your supply through a singular channel, this can prove to be a trap in situations of saturation or supply chain breakdown. In order to protect your livelihood and the clients that you serve, you may wish to strategize and revise your current supply chain source structure.
Sourcing should come from a variety of different resources that are either domestic, international or a mix of both. This helps to ensure that you have the versatility to pivot accordingly in the next large-scale event. Working with your team to vet and onboard suppliers is vital to the health and safety of your business.
Inecta Is Here To Support Your Supply Chain Needs
If you serve the food and beverage industry, Inecta is here to support you by providing bespoke cloud-based ERP solutions that are reliable, easy to use, and consistent when you need them the most. With our services, you can enjoy a streamlined user experience, comprehensive reporting, and tracking, as well as an easy implementation process so you can keep the time where it matters most - in your business. For more information, visit our website today.