Are you among the millions of U.S. workers who have resigned over the last year in pursuit of something better? If so, what are your reasons for joining the Great Resignation? Economists and employment experts have been offering all sorts of opinions since the mass exodus from traditional employment first began. Whether or not they truly understand is a matter of debate.
Surprisingly, a small number of experts are not on board with the Great Resignation idea. They see it more as a realignment fueled by an emerging desire among employees to take more control over their careers and daily work lives. Whether you choose to call it the Great Resignation or Great Realignment, researchers somewhere would probably love to hear what motivates you.
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Fair Compensation
An article about the Great Resignation leaving employees behind published by Dallas-based BenefitMall acknowledges the fact that employees are starting to question their compensation. They are essentially wondering if their jobs are worth what they are being paid. And if not, that might be enough motivation to send some employees packing.
The compensation issue bears taking a closer look at. Money has always been an issue in terms of employee retention, but perhaps it is not as important as we have long believed. Think about it. Salaries in many industries are standardized. Is an employee going to make so much more at a different company as to warrant leaving their current employer?
Greater Flexibility
While money is important, it is not everything. In fact, studies show that a large percentage of American workers would be willing to take a pay cut in exchange for greater flexibility. Employees would rather self-determine where and when they work, and they are willing to give up some of their compensation to have that freedom.
Did you leave your employer because you wanted to continue working remotely? Are you looking for a new job that offers more flexibility in your daily schedule? Flexibility appears to be a big thing now. Employers need to embrace it.
Many Other Reasons
Fair compensation and greater flexibility barely scratch the surface of why the Greet Resignation is occurring. There are many other issues in play. Here are just a few:
- Too Much Stress – Excessive stress is causing some employees to rethink their jobs. They would rather leave and start over than continue working in a high-stress environment.
- Lack of Appreciation – Employees more readily acknowledge they feel a lack of appreciation from their employers. A worker who feels unappreciated is also likely to feel undervalued. Why continue with the same employer under such circumstances?
- Retirement Is Better – No doubt that some Great Resignation participants are simply choosing to retire a bit earlier than they had planned. If they are within a few years anyway, retirement may seem like a better option than going back to work.
- The Lure of Entrepreneurship – Some Great Resignation participants have simply decided they have had enough of punching someone else’s clock. They have decided to take the entrepreneurial plunge and start their own businesses.
While salary and benefits do play a role in retaining employees, they may not play as big a role as we assume. Think about your own situation. If you quit your job, why? An honest assessment may reveal that what you really want is more control. You want more self-determination for your career.
The Great Resignation will at some point be relegated to the annals of history. Between now and then though, will we learn the most important lessons it teaches? Hopefully, yes. Otherwise, that history will eventually repeat itself.