The Great Resignation - Should We Be Worried?
You would have seen the talk – if reports from the US are to be believed a career trend is heading our way and will hit shores in March of 2022. The Great Resignation.
So, are 40% of the workforce really about to leave their jobs?
Perhaps not. But if you think about that anticipated date of March 2022 – we can make some calculated assumptions around that date (although you know what they say about assumptions making an ass out you and me! So touch wood just in case!) that workforces will mostly have returned to a predominant office-based work format. International borders will be open, and vaccination rates high.
But if employers believe that at that point work will return to pre-2020 – they need to think again.
We have been forced to embrace ambiguity and realise that more than ever we have very little control over what happens. Industries that were previously thought to be impossible to introduce high levels of work flexibility have done just that. In fact, the financial growth of some industries has been exponential during this time.
And while that has been happening? Employees have been doing their own growth.
Critical thinking, adaptability, solutions-focused, flexibility – these are skills everyone has had to develop over the last two years. It’s no coincidence that these are the enterprise skills that employers are seeking – the ones that are heating up that “war on talent”. These are skills that don’t necessarily come naturally to everyone but can be developed and strengthened just like a muscle. And it's these skills that people want in their teams.
The pandemic has forced us all to review career and its position in our lives – its changing career in fundamental ways – and without daily in-person connection, employees are reflecting on what they get in exchange for their effort, time and labour.
And now? Employers need to sell themselves to employees – not the other way around. The talent shortage is here. Right now. And whilst this shift of power balance between companies and candidates has always existed during recessions or times of economic growth – this time the extenuating factors are multifaceted.
We explore what this shift of career could look like for both employers and employees below:
Employers should think about:
How to retain a degree of flexibility (how large dependant on the business model of course) – this will remain a huge driver for employees as we move forward
What your candidate attraction strategy is and if it's good enough – salary and prestige just don’t cut it anymore. Why should an employee join you? And what feedback do you have about what is not so great about working for you? (and what are you doing about it?)
Speaking of feedback – if you haven’t created an environment where people feel safe to give you their honest feedback then I wouldn’t assume you are getting a full picture the first time you ask. (insert leading question of "You enjoy it here right?")
How will you provide development opportunities – if you don’t create a roadmap for this, someone else will give your employees the opportunities they seek
Making recruitment & interview strategy an absolute priority and bringing consistency and momentum to the process to create engagement from candidates. Does every Hiring Manager have a similar definition of high performance in your business? I can almost guarantee the answer is no. Do you proactively communicate your enthusiasm for candidates and what the next steps are and when they will be? Do you give candidates a great experience of your brand when they interview with you?
Don’t feel pressured to make rash decisions but if you meet a great candidate – make your move! Chances are in this market – they aren’t just talking to you!
Employees should think about:
Before you join the movement – think about the aspects of your role that you would change and engage your employer in a discussion about how that could change.
Figure out your own degree of compromise. If your employer could meet you halfway – what does that look like and would that fulfil you?
Take time to undertake exercises like “Odyssey Plans” that help you ideate what your 5-year life plan looks like and what you would need to do to make that happen
Don’t be afraid to ask prospective employers the tough questions – now is the time to get a comprehensive understanding of what life would look like there
Don’t let assumptions stand in the way of a GREAT opportunity – nothing ventured nothing gained of course
Consider the longevity or viability of what you are requesting in the context of your occupation
Take the time to explore your values, ethics, morals, and drivers and how they are met in your current employer
You don’t ask – you don’t get – if in doubt make the request and see what happens!
Have the last 18 months forced you to evaluate your career strategy? You aren’t alone! This is our opportunity to reshape and redefine what the future of career looks like.
The good news? It's never too late to change strategies if you employ people or you are looking for meaning in your career as an employee. Or potential biz owners we love those!
Reach out for a chat if reading this has sparked interest - it's by no means conclusive but it's a start.
Ange x
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