2020 brought us COVID. 2021 showed the world how weak supply chains are. 2022 is bringing the Great Resignation!
Hold on tight! If you thought that the job market was interesting in 2021 just wait for 2022. Media and the news has portrayed this year as one with a fragile job market due to government subsidies for unemployed workers. What no one is talking about is how many professional employees are currently underemployed. Whether it’s having to take a hit to compensation or unhappy with their current employer due to culture, workers will be making changes in 2022. Why not now? What’s significant about 2022?
Timing is everything. After the roller coaster which was 2020 and the lingering effects lasting through 2021, employees with good paying jobs ($50K-$250K) have been hesitant to make a change. Individuals in this bracket are less likely to make a change during uncertain times. The flood gates are already starting to creep open for these professionals as the end of 2021 nears. As stability begins to set in these future job candidates will be seeking new opportunities. 2022 will bring stability which will build corporate confidence, which brings about the execution of corporate growth strategies. Most companies operate with a fiscal calendar matching the Gregorian calendar. This means that come January 1st 2022 corporate budgets for additional heads will be available.
If your company is not already talking with team members to understand their state of mind with respect to their position in the company then you should. Employees want to feel financially secure and be in a culture in which they do not feel alienated. So basically, pay your employees what they’re worth and don’t be jerks and you stand a better chance of retaining your talent!