A Great Shift Is Underway
According to The New York Times, “There are five million fewer people on U.S. payrolls than in February 2020 and 2.7 million people have been out of work for six months or more, the standard threshold for long-term unemployment. Yet, job openings are at a record high, and many employers report having a hard time filling positions.” In October, The New York Times also reported that in August alone, 4.3 million people quit their jobs in a shift that many are calling “The Great Resignation.” The employee experience is at the core of this shift, as those leaving the workplace report burnout, poor work/life balance, job dissatisfaction, low wages, not enough paid time off, and an increased focus on personal wellbeing as key reasons for quitting their jobs. The abundance of jobs, as compared to an available workforce, gives those potential employees at all income levels more leverage to make a positive career change.