Since Professor Anthony Klotz of Texas A&M University coined this phrase during a Blomberg interview, papers and articles have been analysing the data, reasons, what companies should do and the rest. Simply put, it was a prediction that many people will leave their jobs after the COVID pandemic ends and life returns to “normal.”
In some views, the pandemic accelerated the big think that people (specially professionals) were having about the relevance and worth of their jobs. The commute, long hours, stress, effect on health was all being discussed more than ever, even before the pandemic. The pandemic became a catalyst for people to think about prioritising their life issues.
Though the Great Resignation was apparent in the USA, it is being felt all across the globe. When the pandemic started, the job market had its own uncertainty and there were mass layoffs, especially in the hospitality, travel and retail sectors. The ones left with jobs were in survival mode and were even told “be grateful you have a job”. Now as we move towards recovery, workers in a more secure position where they are not totally dependent on the salary cheque, are seriously rethinking their options. The others who cannot have the luxury of leaving jobs, are also evaluating options of other job opportunities which will help them manage the stress better. So, change is happening all around.
This move is different than a simple resignation, where you either move out of workforce or go and join a competitor, this is an empowered move. One where people are taking control of their work and personal life and making a big decision. The top reasons for Great Resignation are – inadequate childcare, health concerns and burnout – each of which focusses on the personal aspects of life, rather than the job that you do. Not surprisingly that the highest leavers are the mid-career workforce.
Companies are still understanding the ripple effects of this resignation and the mind-shift that they see in their workforce. More planning and focus on retaining talent are on the discussion table. Hybrid working is becoming the norm and flexible working options are being provided to employees. Remote jobs are on the rise, geographical boundaries are becoming less relevant. Selecting the right talent and socialising and nurturing it is becoming the priority of all managers.
The pandemic had some learnings – we do not need to travel all the time for work, video meetings are effective most of the times, people need not be present in offices for them to be productive and technology has become a great connector and enabler for carrying out tasks. Also dawned the importance of health, and many were made aware of their mortality which got them to focus and prioritise health and wellbeing, both physical and mental.
Rather than resignation, it would be apt to call this the Great Realignment where people are moving towards work and companies that they want to work with rather than must work for. Time will tell whether this is a good course correction or not.
Good luck.