You may have heard the term “great exodus” recently as it has come to describe the mass amount of people who have decided to quit their job. Some people have quit to move on to greener pastures and others have quit to stay at home with their children, retire, or wait out until Covid is less prevalent. The number of employees who have quit their job for another opportunity has shattered records over the past year. So, why are people making such a big change during a time of so much uncertainty?
- Younger adults feel the need to take control of their life and look for a higher paying job. It appears younger workers have had enough of waiting around for promotions that they felt were deserved, and they are tired of feeling dismissed. It has also been reported that many young workers felt as though they did not have a mentor. These issues have been brewing for a while, and the pandemic completely blew the lid off.
- Flexible work arrangements are valued equally to salary and job security. The days of enticing candidates with a little sign-on bonus are over. Candidates want more and they have made it known. Nothing will entice candidates more than flexible work arrangements, including a hybrid work schedule or full remote. Some companies are offering staggered working hours to allow employees to care for their children during the day. This flexibility is a life-changer for many job seekers, especially throughout the pandemic and foreseeable future.
- Fear and uncertainty of Covid-19. Some people have chosen to drop out of the workforce altogether. They have chosen to take on gig work or flexible part-time remote jobs to get by until the pandemic subsides. This may also be the case for many families who need stable childcare, as being at home allows one parent to take care of the kids.
Regardless of the reason, many people have decided to make the huge decision to quit their jobs. Time will tell if people decide to rejoin the workforce. Employers are desperate to hire and retain their employees, but the competition is strong. If you are a job seeker and considering making a switch or re-entrance, there is no better time to start applying than now. Take advantage of the current labor market and set yourself up at a great company with great benefits.