The global economy is larger than ever but, just having a job is no longer the most important thing. The massive dip in employment rates after the first lockdowns of 2020 is now bigger than ever. Here is everything you need to know about the Great Resignation of 2021.
What is the Great Resignation of 2021?
If you are unaware of a Great Resignation, it is a growing movement that is urging people to quit their jobs, en mass. According to a study by Monster, over 95 percent of employees are thinking about changing their jobs. Additionally, this number does not include the 4 million people who already quit their jobs in April. This is also bad news for firms that are struggling to stay afloat or for attracting new workers. Hence, employees are now preparing for workers to say “I quit”.
According to @Katieyowyow, a TikTok user and recruiter with more than 300,000 followers on the platform, every one in four employees are thinking about leaving their job this fall. They “intend to spend the summer months using their vacation days and enjoying the benefits of full-time employment before they jump ship and turn in their notice in autumn,” she explained.
What is the reason behind the mass ‘I quit’ movement?
There are several reasons behind the great resignation. However, the main reason is that several people have transitioned to working remotely or from home and are enjoying the quality of life it offers. People are reluctant to get back to the monotony of a 9 to 5 desk job. On the other hand, several people used the downtime from pandemic to upskill. Hence, they are now looking to incorporate their interests into their work. Some people are interested in roles that give them more time while others just don’t want work that eats away their pleasure. According to experts, great resignation is just a pattern of employees resigning to change their career path.
“Resignations peaked in April 2021 and have remained abnormally high for the last several months. With a record-breaking 10.9 million open jobs at the end of July,” said Ian Cook. Cook is the author of a Harward Business Review that digs deep into the issue. After all the market is changing from an employer’s market to an employee’s market. New graduates and career path changers are also getting the upper hand. After all, the shift in the market trends is also bringing in autonomy.