What’s great about the Great Resignation
You’ve undoubtedly heard the term “Great Resignation” concerning the current job market. It is undeniable that the Covid-19 pandemic has completely rewritten the rules of engagement regarding employment and job-seeking. While the Great Resignation exposes some long-held bad practices among management, it also provides all of us with a new perspective on work, life, and the integration of the two.
Much of the media coverage focuses on how the phenomenon is negatively affecting employers. We hear stories of companies that cannot recruit and retain talent and are having difficulty keeping up with customer and market expectations. Employers, who have traditionally held the cards even in hot job markets of the past, are now having a sort of comeuppance. Candidates are unwilling to settle and are being particular when it comes to their job search. There has been a great awakening, and people are beginning to realize that it’s not about Corporate America. It’s about themselves.
The culture of Corporate America has long required that employees cede control of their time to their jobs. Workers who resisted this or flat-out eschewed it would often be perceived as mediocre or lacking in ambition. When Corporate America had no choice but to allow employees to work at home without constant physical supervision, the notion that the more hours “worked” equated to better results was proven false. We can thank primarily young workers—young Millennials and Gen Z—for leading what is going to be a workplace revolution.
The pandemic and the ensuing Great Resignation are leading us to the most significant transformation in office culture since the availability of the Internet and the widespread use of email. Companies that do not wake up to the new reality will be left in the dust. Many companies’ return-to-office policies are going to backfire. One client works for a software company mandating all employees return for a minimum of 3 days per week, beginning the second week in November. There is no flexibility in this at all. This company will lose people who will go to competitor software companies that do not care where they are physically located as long as the results are delivered.
Employees are also no longer limited by the economics of their locales. People who’ve taken or stayed in jobs with unsatisfactory pay because of location now have a plethora of fully remote roles to consider. While the Great Resignation is a good thing for employees, it is also a positive for employers. Companies are not beholden to the local pool of talent when sourcing candidates and employers that offer workers flexibility will have better results all around. Some businesses are trying an ambitious new strategy: making workers happy. These employers are going beyond the foosball table and catered lunches and are tackling issues such as burnout, exhaustion, and other job-related stresses. This is real change that will drive measurable results. Employers that give employees control over their jobs, work to fix systemic problems, pay competitive wages, and help employees find value in their work are the ones that will emerge from this as victors.