The longer the labor market remains tight, the more concessions employers will be forced to make. That’s the general census from employment data analysts. What started in the United States as the Great Resignation in early 2020 has spread across the globe and reached other job markets in various countries.
While the conditions of the global pandemic have waxed and waned throughout these past 2+ years, it can’t be the only reason that so many employees across the globe have decided to quit their jobs in search of something else. Why has the Great Resignation resonated with workers around the world?
A recent CNBC video report, produced by Silvia Amaro, has given us a snapshot of some of the most prevalent reasons the Great Resignation spread out of the U.S into other labor markets.
What Do Employees Want Now?
It turns out the global pandemic and lockdowns that followed provided some clarity for employees worldwide; they realized more than ever what they wanted/needed to be happy in their positions. How do we know this? As the report notes, 4.5 million people in the U.S quit their jobs in November 2021, the days in which the pandemic was under control enough for people to return to the offices and jobs they had left. The report noted how the Organization for Economic Cooperation and Development (OECD), a global agency, tracked employees’ reasons for resigning from their positions or never returning after lifted lockdowns. The Global Resignation can be understood as a result of a “global epiphany” by the labor force. The pandemic was a catalyst for people to consider their work satisfaction carefully.
The four reasons most employees are joining the Global Resignation that began in late 2021:
- A Backlog of Resignations – Many employees were planning on quitting their jobs and searching for new positions before the pandemic began but did not want to risk being unemployed as the pandemic progressed. But, now, as conditions are more stabilized and the job market is hot, these employees finally feel financially more secure when quitting.
- Role Burnout – The pandemic forced many people to reconsider what makes them happy in life, to realize it’s better to move on than be stuck in a role they’re not happy with.
- A Need for Greater Flexibility – The labor force that transferred from the office to work from home, there’s a strong desire to keep that lifestyle. Work/life balance and flexibility are top of mind to employees today, especially after proving it can work during lockdowns.
- A Need for Purpose and Belonging – Following in the sentiment of role burnout, a need for purpose, belonging, and potential growth are top of mind for employees holding out to reenter the workplace.
Employers Can Connect Better
With a tight labor market, employers will have to make more concessions and work harder to attract and retain talent. Jobiak has been working years to help businesses create greater visibility to open positions and structure job data to present best as possible to prospects. It will be critical that employers keep benefits and role perks up front and visible to cast an effective recruiting effort.
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