Summit Ghimire is the founder of Outpace, a search engine optimization company† His clients range from startups to Fortune 500 companies.
The big layoff. The Great Renegotiation. The great revival. The big reset. The great realization. Label it however you like; there’s no denying that 2021 was one of the most significant workforce upheavals in generations.
Workers in all industries from all sectors of the US economy reached their personal limits and found the point where the balance between their personal lives and work identity needed to be recalibrated. Millions of individuals have made the decision to resign en masse, and this was not just a call to action for companies. It was a generational shift for American society, a moment that broke the zeitgeist.
The lessons learned from effective adaptation to the evolving workforce identity will have a significant impact on business effectiveness in the coming years.
Companies must adapt to the new reality of the workforce to grow.
Several key reasons employees have consistently cited in The Great Resignation highlight factors that can be paradigm-shifting concepts for companies. However, the companies that successfully integrate these newly realized labor realities will find long-term stability that those stuck in outdated modalities will lack.
Employee Report that low wages, lack of opportunities to get ahead and feeling disrespected at work were important factors in their desire to find change. Likewise, crucial aspects are:
• Childcare issues
• Lack of flexibility to choose their hours
• Not enough benefits (such as health insurance and paid leave)
In their new job? Employees found better pay, more career opportunities and a recalibrated integration between work and life, focused on balance and flexibility.
In a paradigm-shattering worldin which more than four million employees have resigned every month during the second half of 2021, business leaders will have no choice but to re-evaluate their operating practices to improve pay, benefits and flexibility.
Ineffective change dampens positive recalibration by employers.
While many companies are rushing to implement practical improvements such as raising wages and adding cash bonuses in the battle to attract job applicants, these changes may not be enough. Applying a fresh coat of paint to an old car or house will not improve the outdated engine under the hood. Slapdash sweeteners do not alter the structural integrity of the building that does not conform to industry codes.
The proportion of the workforce seeking change in their environment reflects not only a need for higher wages (including current pay and potential reward), but also a desire for a healthier life. Employees try to escape burnout and find more meaning in their jobs and healthier work cultures. A significant portion of the workforce in turmoil seeks to change their industry or maximize the benefits of their investments in education, reflecting a broader desire for greater integration of life and work and a better overall quality of life .
Employees know that a better wage does not automatically mean a better job.
Above all, in addition to the persistent desire for better pay, The Great Resignation is an opportunity for employers in a broader sense. It is an opportunity for them to refocus business philosophies to better appreciate and integrate the importance of integrating their lives and work for their employees.
With more than two years of the Covid-19 pandemic in the rearview mirror, workers face an uncertain future of varying potential, the potential for global war triggered by the conflict in Ukraine, dangerous inflation and the ongoing climate change crisis. A positive work environment counterbalances the certainty of better pay on the pendulum of integration between life and work.
Adaptive employers recognize the importance of life-work integration.
Many of the staff are trying to draw a line in the sand, a difficult task in such chaotic and unpredictable times. Companies can strive to meet their employees in the middle, by adapting operational practices specific to their industries and improving the employment aspect of a successful integration of life and work.
This reflects not only a commitment to improving bottom line, a cornerstone for any business seeking long-term survival, but a commitment to being an employer aware of the integral role of a positive work environment and job satisfaction. . It is not enough to improve retention by increasing the fee. Companies must respond with authenticity to transparency, fairness and fairness, and provide opportunities for satisfying work in a healthy culture.
Workers responded in unique ways to the lingering realities of the pandemic and the global trauma we have all experienced. They took a collective step back and took the time to recalibrate the values they assigned to different elements of life. They then took this re-evaluation and applied it to their current job, thus beginning the evolution of The Great Resignation.
How the next chapter unfolds will be determined by how nimble employers adapt to the increased importance of integrating their lives and work for the workforce, whether they make the necessary lasting change or paint a different color.