It’s no longer just the “Great resignation” but rather the “Great Reset”
The focus has shifted from where we work to how work fits into our lives. Employees now play by a different rulebook and are motivated by different factors. This shift in the employee hierarchy of needs has been coming for many years and this was sped up by the recent global pandemic.
These changes have been labelled as the “Great Reset” which has been a culmination of changes all now prevalent and impacting the job market. Employers and leaders are going tore-evaluate the way they recruit and their value proposition to new prospects. Has your model become obsolete? A valid question to ask and answer.
Let’s look at the 5 Great R’s:
1. THE GREAT RESIGNATION
The great resignation has been ongoing since 2009, contrary to belief that this was caused by the pandemic. The ratio is expected to reach 120% of pre-pandemic levels.
2. THE GREAT RETIREMENT
The baby boomer generation was anticipated entering retirement age soon however the global pandemic sped this up as many suddenly had the golden opportunity to go on early retirement. Analysts expect labour shortages as a result for at least the next 10 years.
3. THE GREAT RESHUFFLE
This is where people are reskilling and switching jobs. Many change careers completely. In 2021 this left the industry in desperate shortage of skills. The silver lining is that this has added to job satisfaction as more people are doing what they like as opposed to what they must do.
4. THE GREAT REFUSAL
Economical and mental health challenges have placed pressure on the workforce and as such they are now having to search for higher paying or healthier work environments to survive and maintain their health. As such many bad paying jobs or employers with a bad human resource and culture track record are being declined by workers. Workers are in the driver seat and able to weigh up what carries the most value for them or see’s to their needs
5. THE GREAT RELOCATION
Remote work has changed the work landscape. People are now able to choose where they want to live before they choose their jobs, They can now center their lives around their community and not their work.
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