‘The Great Resignation’ may be the trend of the moment in the HR conversation, but it’s proving to be far more than just a catchy phrase. The numbers speak for themselves: 9.2 million job vacancies. 850,000 new jobs added. Nearly 4 million resignations. And that’s all within a single month.
At first glance, what we’re seeing might be summed up as a labor shortage. It’s only when we look beneath the surface that it becomes clear that this mass employee exodus is likely the manifestation of something much bigger: What The Washington Post first coined as ‘the Great Reassessment’ in a piece earlier this year in May. The Great Resignation is being fueled by employees who are stepping back and taking stock of the role work plays in their lives. In the aftermath of a series of crises, people are looking for purpose, considering their career options, examining their relationship with their employer, and reevaluating how, and where, they want to spend their time.
For leaders, this moment represents a critical fork in the road. Some businesses may rely on legacy strategies and systems to ride out the storm, while others will make the bold choice to change their perspective and embrace new ways of working. We know better than most that these kinds of mindset shifts can be incredibly challenging, so we’ve spoken with our own VP of Insights and Impact, Jeff Schwartz, who founded Deloitte’s Future of Work practice and published a book earlier this year, WORK DISRUPTED, on the importance of adapting 21st century mindsets and models for the challenges of 21st century work and careers. His top takeaways for thriving during the Great Resignation include: