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The Great Resignation: What Is It and Does It Affect You?

01 March 2022

The Great Resignation, also known as ‘The Big Quit’ refers to a wave of workers voluntarily leaving their jobs during the height of the COVID-19 pandemic.

As we leave lockdown and COVID numbers are decreasing, the number of voluntary resignations continue to soar as workers throughout the UK, US and Europe continue to leave their office jobs in droves in favour of remote or part-time work.

So how are governments and organisations responding to the Great Resignation and what does it mean for those who remain in traditional office work? Here is the latest on the ‘Big

Quit’ and how it affects you.

Will The Great Resignation End in 2022?

The Great Resignation has been the concern of bosses across the western world since April 2020. Failing to fill the gaps left behind by previous employees, employers are really feeling the squeeze when it comes to recruitment.

While the Great Resignation does continue, it is showing signs of slowing down, and it seems that bigger organisations are suffering worse from staffing shortages than smaller, independent companies.

Most firms have responded to the crisis by offering more flexible working. Research has demonstrated that more organisations in the UK now offer flexible working options for staff, compared to the previous year.

However, staffing crises continue. According to a Bloomberg report, 9 in 10 managers admit that finding and hiring the right staff is more challenging than before.

How Employers Can Benefit

Despite the increase in resignations and difficulties of hiring, the Great Resignation does offer some silver linings for hiring managers.

Time To Reassess

The Great Resignation has given managers a chance to reassess what truly matters to their company and opportunities to find new, creative ways to restructure the business.

Having a scarcity of manpower has forced managers to streamline workflows, which has eliminated unnecessary or outdated work practices that were costing the company valuable time resources.

Pain-Free Restructuring

Before the Big Walk-Out, everyone dreaded the company restructure. When an organisation evolves, and many work practices and policies no longer fit, it is inevitable that job roles either move across departments or are eliminated entirely.

No one wants to be on the receiving end of redundancy notice, just as much as managers hate having to deliver them.

However, if your organisation has been left half-empty by the Great Resignation, this is the best time to implement a restructure without the casualties.

How Employees Can Benefit

Whether you have resigned from your job or you are sitting in an empty office. Being an employee during these uncertain times comes with its fair share of worries.

However, the Big Quit has provided a plethora of opportunities for employees at all levels.

Better Opportunities

If you have recently quit your job in favour of the great unknown, then this is the perfect time to step out of the rat race and look at what you really want from your life and your career.

As employers struggle to fill vacancies, the job pool is wider than ever - and more flexible too. Maybe use the spare time to reconnect with friends and family, up-skill with a new course, or apply for that dream job at another firm.

Work Towards That Promotion

With offices emptying out, new opportunities have suddenly strung up within the workplace. Employers are seeing the true value of their employees, and many places are either offering opportunities for workers to move up the ladder or are being more supportive of employees enrolling on external courses.

The Great Resignation or The Great Reshuffle?

According to a Microsoft study, even more workers are planning to quit their jobs in 2022 in favour of hybrid working. It is now an employee’s market as the advertisements for job vacancies are piling up.

The jobs market is beginning to recover after the 2020-2021 slump, so now is the time for employers and job seekers to take full advantage and work together to implement a work model that works for everyone.

Now referred to as ‘The Great Churn’ 2022 is a time for reflection, a time to think about what we can and should do to make the workplace for productive for managers and more sustainable for employees.

As more vacancies are becoming available with even better benefits than before, it is still unclear as to why recruiters are failing to find staff to fill in the gaps. It is possible that workers are taking time out to reassess what they want their careers to look like or are dropping out of the workforce entirely and opting for early retirement or sabbaticals.

The loss of life endured during the COVID-19 pandemic has made millions rethink their priorities and many are seeking jobs that offer a better work-life balance. People are looking for fairer compensation, flexibility, and longer-term arrangements that align with their values.

According to the BBC, It’s not that workers are leaving the workforce, they shuffling around the job market. It is now acceptable for workers to have a number of smaller jobs or two part time jobs than going for a traditional 9-5.

It appears that the priority now is to find work that can fit around personal lives instead of lives that must bend around work.