The Great Resignation

The Great Resignation

Coined by Anthony Klotz, ‘The Great Resignation’ is upon us, creating many shifts and changes in the recruitment industry. However, it is interesting to look into the reasons as to why these changes are happening and more importantly, why now?

What’s going on?
The pandemic has affected every individual in some way, shape or form, and the job market is no different. According to Reed, six in ten Londoners are actively looking for a new job or open to new opportunities. Is this post-pandemic era an opportunity or a threat? Well, some may argue that with resignations comes new hires, providing new opportunities. Others perceive this as instability; people leaving puts companies at risk of losing key people and acts as a threat.

Why now?
It’s been reported that since April of 2021, 4 million people have resigned from current positions and entered the job market seeking new opportunities. Lots has changed within the workplace since COVID-19 first hit us, with organisations having to adapt to working from home. From this ‘hybrid working’ has emerged, giving people the chance to be flexible; something that’s never really happened before. With this being an option, many people do not want to return to their full-time unsociable hour roles with the long commute, and much prefer the comfort of their home. On the flip side, age has been a driving factor against hybrid working. Younger people crave the social aspect of working that they have been deprived of and so leaving positions or seeking jobs that insist on returning to the office. Whereas those on the slightly more experienced side have had enough of the office life and would much rather work remotely.

Additionally, after the number of lockdowns we’ve endured, people have had just about enough time to reflect on both personal and professional lives and hence what the next step of their career could look like. Some may want to progress, some may want to take a step back but nonetheless, they want to leave their current position.

What does this mean?
A study provided by Microsoft, shows that 40% of people want to change jobs this year whether it be for one or all of the reasons mentioned. Naturally, this has affected the recruitment industry in different ways. Organisations are now looking at these shifts and changes and re-thinking ways they can engage either current or potential employees.

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