Joining the Great Resignation
The years 2020 and 2021 saw an exodus in a number of industries, with people quitting their jobs en masse, frequently referred to as “the great resignation.” There are a number of theories about what prompted the movement and why it is continuing, as well as some suppositions about where these displaced workers are planning to go. Today, Behind The Leaf presents some things you need to know about “the great resignation.”
Why Are People Quitting?
The last few years proved difficult for everyone due to the COVID-19 pandemic. According to National Public Radio, many people were downsized, lost jobs, or were ordered to work at home in reduced capacities. Still other individuals were forced into work, particularly in service and healthcare professions, some out of necessity, and some by mandate of their employers.
While many people have returned to work or are finding new jobs, others are deciding to pursue different pathways, or simply be available to their children on a full-time basis as distance education continues to be in a state of turmoil.
Where Are People Going?
Enhancements to U.S. unemployment systems early in the pandemic served as a lifeline for many, though it is theorized some low-earning individuals made more in unemployment benefits than in their jobs and saw no incentive to return to work. Many people retained their jobs in an online capacity. Still others decided to re-train, going back to school to receive a different degree as a way to find a new line of work. This was a win-win choice for some people who were able to take virtual courses while also working part-time as freelancers so they could continue to earn while they learned.
In some households, families have a degree of financial freedom, and the pandemic prompted them to rethink their work-life balance and look for ways to spend more time on activities they enjoy or find fulfilling. Still others are finding that the gig economy creates an environment of more financial and personal freedoms when it comes to deciding when, where, and how they work.
Thinking About Quitting?
If you're thinking about joining the great resignation and leaving your job, there are a number of important issues to think about before putting in your notice. The first is your financial stability and your debt obligations. For some people, it's simply not practical to leave work or even take a leave of absence. You'll want to ensure that you have another source of income, a spouse, partner, or family member who can pick up the financial slack, or otherwise downsize in such a way that you can support yourself in other ways.
In addition to finances, think about issues such as health insurance, retirement plans, and the financial needs of other family members. If you’re a person who equates your identity with your work, you should also be mindful of how you might feel mentally and emotionally if you leave that professional environment.
It’s also helpful to network before quitting to see what opportunities may be out there for you. Networking with former classmates is made easy with the help of an online directory. A quick search can provide you with all the contact information you need to reach out and reconnect with these people from your past. Whether it’s for finding a job, growing your business connections or simply catching up, having access to an online directory can make building relationships with former classmates much easier.
After You Quit
Many people find that when they leave a job, particularly a high-stress position, they need a bit of downtime to reset, recharge, and refocus. Chances are, you'll need to find some kind of income stream in the near future. If you've ever thought about starting your own business, now might be a good time. Give careful consideration to your skill sets and talents, whether you're drawing on your professional and educational expertise, monetizing a hobby, or even starting a business in a brand new, high-potential industry.
A great many people have altered their perceptions about work and life in the past several years, reevaluating what's important, and this may be something you’re actively considering. If you have in-demand skills, the opportunity to afford working part-time so you can go back to school and be with your kids or have a longing to start a business, it’s time to take the leap! There’s no time like the present.
To support diverse women pursuing small business opportunities, visit Behind The Leaf today!
Written by Derek Goodman; email derek@inbizability.com
Image via Pexels.
