The impact of the global pandemic on the national economy has been profound. Serious efforts by the government to keep the economy and many households afloat worked wonders. As mass vaccination efforts got shots in the arms of most people, lockdown restrictions were pulled back to various degrees, allowing economic activity to resume on its own.
Economic growth has been strong in many sectors, and the number of job openings has been hitting records. However, many employees have been actually quitting their jobs even in time of great demand for labor. Some sectors, such as food and beverage, have been understandable. But, in many industries, company leaders have been greatly misunderstanding what’s behind The Great Resignation.
Some reports suggest that over 10 million people quit their jobs in the spring alone, and that more than half of active employees are actively looking for different work. It’s not just people looking for different employment in their current career but actually people looking to move into entirely different careers altogether.
Given how tight the labor market is, employers and leaders are highly anxious to hang on to every person they can. Replacing them is not going to be easy in a time when so many jobs aren’t filled as it is. On top of that, training and onboarding them takes money and time, if they even stick around. Retention rates are a high priority right now, because they are plummeting.
Many leaders who were reluctant to grant employees the ability to maintain things like remote work and flexible schedules are opening up to such notions, but is it enough? Do they actually have things right about all of this?
It’s not just about remote work and dress code, however. The global pandemic has made many people realize just how close to burnout they were already at before this started. Some were already there. Many were also working jobs that demanded too much of them and provided little or even no emotional support whatsoever.
Mental health is being prioritized by millions more than ever, not just because of the pandemic but also so they can lead more fulfilling lives after all of this. There might be millions of job openings, but people aren’t just looking for paychecks. They want meaningful work, too.