The great resignation is here!

Has the pandemic caused you to reconsider your job path or seriously consider the importance of employment in your life? If that's the case, you're not alone.

COVID-19 has sparked the Great Resignation in the United States, with millions of people, from frontline employees to high executives, willingly quitting their positions.

According to Microsoft's recent research, more than 40% of the worldwide workforce is considering quitting their current employers this year.

Companies are ready for a seismic shift in the workforce as a result of the huge flight, and the trend is expected to spread to Australia.

So, what's causing all of this turmoil? What impact will it have on our professional choices, both major and small?

Humans, not just workers

According to Mr McEwan, pandemics transform society at fundamental levels, and this one is shifting the power balance from employers to employees.

He explained, "It has rewritten the psychological contract between companies and employees."

Consider a psychological contract to be the agreement you establish with your employer regarding the benefits you will receive in exchange for your labour, time, and effort.

It has always been focused on corporations giving a positive employee experience: a good income, a comfortable office, and the number of benefits they can provide.

"Employees today do not want to be labelled as workers. They want to be viewed as complex individuals who have lived rich, full lives "Mr. McEwan explained.

"They're not only interested in the work experience they can have, but also in what an employer can do to enrich their life experience."

Anna Burgess Yang joined the Great Resignation earlier this year, switching careers from financial technology to content marketing.

She is based in Chicago and says the pandemic has made her reconsider how much she is willing to contribute to her job.

For employees, flexibility, as well as how their employer makes them feel, are important factors.

Ms Burgess Yang's husband, a software engineer, also joined the Big Quit after learning that he would no longer be able to work remotely after five years.

With his company, there was no space for discussion.

Working remotely is important to the pair because it allows them to "more equally share the work of caring for our children," and they weren't willing to give it up.

"So when his boss said, 'You have to come back in,' we were pretty much like, 'No,'" recalled Ms Burgess Yang.

"As a software developer, you'll be in high demand. As a result, he was able to quickly discover something that would allow him to continue working remotely."

Downsizing your career

Fundamental shifts in how individuals think about work's role in their lives are also fuelling the Great Resignation.

Many people are opting to de-emphasize ambition in order to focus on other elements of their lives.

They are embracing "career downsizing," which is seeking for a job that requires less hours or has less responsibility and stress.

Reconfigure work for today's world

While we haven't seen the Great Resignation in Australia yet, Mr McEwan believes the "underlying indicators" are present.

"In terms of underlying business confidence, we are currently substantially ahead of the rest of the globe. Australia has shifted from a negative to a very optimistic outlook on underlying economic circumstances "He went on to explain.

"We also observed a comeback in job market confidence, putting us on par with the rest of the world."

People may not receive bonuses that are as good as they hoped, may miss out on promotions they believe they deserve, or may not be adequately rewarded in performance assessments for their recent hard work as we move into next year, he said.

"I believe that when March 2022 arrives, Australia will witness the Great Resignation. It will be a talent movement for which I believe we are unprepared "Mr. McEwan explained.

"Businesses will have to begin... selling work to employees."

Employers should view this as a once-in-a-generation chance to "reconfigure employment so that it's truly suited for this new environment that we find ourselves in," according to his recommendations.

"The way we work, particularly in offices, is a relic of the twentieth century, if not the nineteenth," Mr McEwan added.

If you're considering joining the Great Resignation, we recommend starting small. Consider it a series of small steps towards the desired transformation rather than a giant leap in a new direction. You might be able to make changes to your existing job or responsibilities to better fit the lifestyle you desire. If you do decide to leave, make sure you're in the best possible position. Learn everything you can, network with professionals in the business, and refresh your abilities as needed. Big adjustments can feel impossible because we feel obligated to make them right away. They'll be a lot easier to achieve if we do it slowly and gradually. In the midst of the pandemic's uncertainty, there's a possibility to alter your job and find something that makes you happy.

Source: ABC News