So far in 2021 there is a historic record in job resignations, driven by a movement that seeks to revolutionize the way people work.
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COVID-19 forced the closure of one chapter, or several. The things we did before the pandemic are not necessarily the same things we will want to do afterwards. The seriousness of the health crisis made us all consider existential questions: how we want to live and work, and what decisions we are going to make to improve our quality of life, became the priority.
Work – and the way we work – is one of the issues that has changed the most over the last year and a half:
- Health restrictions imposed a massive transition to remote work, and this brought with it an autonomy and freedom that no one wants – or is willing – to lose.
- Breaking with the traditional work / office association left mental space for people to dare to explore new areas of interest, or to face long-term desires.
- Because technology puts everything at the same level of possibility, digital nomads choose to work from where they like best, and even change jobs to do what they always dreamed of .
- Working in the cloud offers opportunities that we did not see before because we were caught between the traffic and the computer of our permanent job.
All of this has given rise to a growing trend: quitting work. The phenomenon was dubbed “The Great Renunciation” by Anthony Klotz , Professor of Management at Texas A&M University. The statistics support it: The Microsoft Work Trend Index just revealed that 40% of people plan to change jobs during 2021, and a Monster survey adds that 95% of US employees are considering an occupation change.
Towards hybrid and flexible schemes
According to Klotz’s studies, the current resignation rate is the highest since the Bureau of Labor Statistics (BLS) began measuring this rate in 2000. In his hypothesis, Klotz argues that many employees stuck to their job. I work in the face of the uncertainty that the pandemic brought, but that as time went by, those same many began to question how they wanted to continue.
The key to attracting – and keeping – talent in a market where the employee gains power is to offer flexibility . Because, when the office ceased to be the space you go to every day, the default work arrangements lost importance and, instead, the particular needs of each of the people who work became evident. In the post-COVID scene:
- Employees declare greater commitment to their work when they are offered the possibility to operate remotely.
- Those with children recognize the value of being able to have their schedules and appreciate the time they gain by reducing daily commutes.
- For the youngest, remote work is almost the only option, because it allows them to articulate their occupation with friends and travel. It’s the way Millennials prefer, who by 2025 will make up 75% of the global workforce .
The phenomenon of “The Great Renunciation” gives us the guideline that we are in transition towards a humanistic model that takes into account the needs of individuals. And that ignoring them negatively affects the work environment, which encourages more resignations.
Right now, companies are debating which model to follow. While some aspire to return to pre-pandemic work schemes, others adopt hybrid models that combine virtuality and presence, and there are also those who prefer to take the opportunity to move to a 100% remote scheme.
Those who will win in this new reality will be those who have not only survived the crisis, but have also redesigned their way of operating, hiring and collaborating. For this, it is essential to leverage technology and take advantage of solutions that allow it to be done in a more efficient and transparent way.
At TransparentBusiness , we know that work is something you do and not a place you’ve been going for almost a decade. Our operations are 100% remote – we have never had physical offices – thanks to our software solution, which makes it possible for any company of any size to manage their virtual teams from a distance.
We can also attest that our digital talent marketplaces multiply employment opportunities for thousands of people: SheWorks! and Yandiki are the bridge that connects professionals with cloud options, and allows companies to access and hire the best talent anywhere in the world.
“The Great Renunciation” is an opportunity to propose a more creative, freer and happier way of working, designed from people. What this phenomenon signals is the end of the era of trapped and anonymous employees. This revolution demands flexibility and balance to live a better life.