CXO Matters

What’s After “The Great Resignation?”

What’s After “The Great Resignation?”
Image Courtesy: Unsplash
Written by Suraj Jaiswal

Companies that were practicing layoffs and downsizing at the inception of COVID never knew that a time of insecurity would befall the company itself instead of employees. Today’s employees aren’t shown the door anymore. They quit by themselves. 

It was recently reported, “4 million Americans quit their jobs every month for the last six months.” Reflecting the job quits, the job market saw a massive rise in vacancies, which totaled nearly 11 million in December, almost 5 million above the total unemployment level. 

The world saw the trend of great resignation happening in nearly every country. Jobs, which were once viewed as a rare, lucrative opportunity, have now become a mere commodity. People who were highly concerned about what they were doing and where they were employed have come to see their jobs from a whole new perspective. Today’s workers are’t just looking for any job that pays, but something which is more in line with their interests. And if none of the interests are satiated, they are also not afraid to do something on their own. The great resignation has led companies and recruiters to rethink their existing job descriptions and offers. As we move past the phase of great resignation, companies are seeking to understand what’s next. What turn will the workplace take after a period of unimaginable job quits and innumerable job openings? Will it be… 

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The Great Wake

A LinkedIn survey recently shared that 74% of respondents in the survey claimed the pandemic was a wake-up call for them. It led them to rethink their current job roles and responsibilities. 

And this wake-up call wasn’t just for employees, but for organizations too. Today’s managers wouldn’t flag you to HR if you showed up late to work or your kid caused an interruption during an ongoing meeting. Before, children were sushed around working parents. But today’s managers get delighted to see your child making a surprise zoom appearance in their undies. 

The Great Upgrade 

Some are making the most of the great resignation. 

“The week before Thanksgiving it started getting really busy and didn’t stop. It just got worse and worse. Thanks to worker shortages and shipping delays, the calls from angry customers increased, she said. “I was getting so drained and stressed from work. I was getting paid like s*** , rapidly feeling overworked.” It was at that moment Lydia Schmidt quit and start something on her own. Today she is an entrepreneur who offers virtual assistant service to business owners in the outdoor industry.  

The Great Raise

Upping salaries may not be just another perk, but a highly promising and profitable sequel to the great resignation. 

Companies in various industries have reported profits quarter to quarter. This has simply happened because workers who weren’t happy have walked away only to create vacancies that have been filled by even more remarkable employees. A hot job market and increasing vacancies could only spark the trend of employers pushing roles for a much fatter paycheck. 

Irrespective of what the future holds, the shakeup hasn’t been a curse, if not a boon altogether. 

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