The crystal ball seems to be a little foggy lately. Is Tom Brady retired? Is Bitcoin a Good Buy? Will the Oscars ever get more exciting? Depending on the day, the answers could be yes and no.
In the last two years we have experienced unpredictable trends that have amazed us What’s next?
The last Great Resignation reports lead me to our work nearly a decade ago where we found by interviewing staff and students that most applied for 70-80 jobs before finding themselves in a company that… fine, but not great. It wasn’t a lack of skills or education, but the labor market was so tight that people had to take what they could get. This frightening reality made us wonder would it ever change?
It’s a completely different climate today: falling birth rates, slowing immigration, record pensions, a skyrocketing gig economy, and the workforce as we know it is hungry for talent. In America alone there are 11 million unfilled jobs and only 6.5 million people to fill them. Suddenly we’re in the middle of a talent crisis. Employees are having an unprecedented impact, and the Great Resignation as we know it is only just beginning.
What’s next? Let’s map it.
Wave 1: Change through violence
Time frame: 2020-present
When the pandemic first hit, employers had to make significant changes. The office was no longer secure, so millions of employees learned (some better than others) how to work in a remote world.
Working online introduced a cocktail of complexities; For one thing, many bosses weren’t particularly helpful or adept at managing remote teams. This new style of work prompted people to adjust their personal lives; Many moved, others looked for other jobs, and some explored new ways of life.
These shifts spawned the first title wave of the Great Resignation, triggered by jump starters 69 million Americans Changing jobs in 2021. This mass exodus has significantly changed work environments. For example an estimated 2 million Women across the United States have quit work (many to become full-time moms) amid the pandemic. About 28.6 million baby boomers (born between 1946 and 1964) retired in the third quarter of last year. The loss of both of these demographics will completely change our future work environment.
But it’s not all bad news; We were also driven to rethink our ways to do and outlook work, from asynchronous workspaces, increased flexibility and extensive work benefits. Consequently, leadership development entered into full swing; People found happier work situations and more freedom.
Wave 2: Change through choice
Time Frame: Present – June 2022
With the office appearing safe for a return, employers across the country are recalling their employees. To be clear, there are no outside forces reclaiming us – leadership is.
Not surprisingly, there is a mixture of reactions. In the coming months, more people will quit because they simply don’t want to return to work. Your new home in the country is much more comfortable, you save yourself the long commute and hey, the bathroom at home smells a lot better, doesn’t it? Oh, and did I mention gas prices?
Interestingly, the employees have the upper hand. Why? Companies are desperate for talent; In this way, employees can put pressure on their bosses to allow flexibility. Duolingo CEO, Luis von Ahn, expresses concern about “hard line.” As a result, many companies are developing flexible systems and negotiable schedules for employees, including Wells Fargo, Ford, The Social Security Administration, and Microsoft.
Wave 3: Choose favorites
Time frame: June 2022 – December 2022
The third wave is happening gradually. According to the U.S. Census Bureau, about 26.4 million people in the US moved in 2021. We’ll see A-players put their foot on the gas to stay away. Employers will have no choice but to let them work remotely if they want to keep them. But what happens to the rest of the office when the top dogs are allowed to work remotely? In short: hostility, contempt and envy. Eventually the frustration boils over and people find flexible jobs.
Another (less likely) option is that Remote A-Players may feel left out of office conversations and cafeteria chats, missing out on opportunity, connection, belonging, and even productivity. There is a strong possibility that many will switch to companies that only work remotely to combat the work
Wave 4: Kick the can down the field (BONUS)
Time frame: December 2022 – June 2023
In reality, many companies still rely on carrots and sticks instead of investing in solid employee cultures want to join. Instead, they try to attract top talent by waving bonuses and extra money.
That’s great for attracting talent – but not keeping it.
Those who forget to improve the culture and workplace experience will experience high turnover rates over the next 8-12 months from hiring people who are not a good fit for them. To curb this, there are two main options: Either companies invest in long-term leadership solutions or wait and see what happens if they don’t. My crystal ball doesn’t paint a very pretty picture for those who don’t.
What happens next?
The restructuring of the workforce is not only overdue but necessary for the workplace of the future. Picture this: more than 100 million people who are changing jobs, working in an atmosphere that illuminates them, colleagues they want to be close to, and an environment that encourages them to do their best work. This Great Resignation (Reconfiguration) will create better, happier teams, parents and spouses with more energy and fulfillment and better work coast to coast.
https://www.fastcompany.com/90737565/why-the-great-resignation-is-far-from-over?partner=feedburner&utm_source=feedburner&utm_medium=feed&utm_campaign=feedburner+fastcompany&utm_content=feedburner Why the Great Resignation is far from over