The professor who invented the ‘big resign’ expects lasting changes in the workforce

The big quit shows no signs of abating despite growing layoff rates.

In May, more than 4.27 million Americans quit their joba slight drop from the record 4.5 million who did so in November 2021.

As the threat of a recession has impacted hiring processes in recent months, management professor Anthony Klotz – who coined the term Great Recession – predicts that workers’ demands to get out of this era will always part of the workplace culture in the future.

“At the heart of these changes is increased flexibility,” said Klotz, who works at UCL School of Management in London.

“Companies large and small are giving workers more flexibility in their schedules and how they do their jobs, so employees can better balance their personal and professional lives, and can be more engaged in both. areas.

These changes in workplace policies, including those that improve the mental and financial health of workers, might not have happened for 30 years without the ongoing pandemic, according to Klotz.

Due to the changes in the pandemic era, workers are less and less likely to return to pre-pandemic labor standards. In fact, LinkedIn’s 2022 Global Talent Trends Report showed that 63% of job seekers cite work-life balance as their top priority when looking for a new role.

Along with work-life balance, those who sought new jobs also gained better pay, greater flexibility in the workplace, and expanded career advancement opportunities.

However, if (and when) an economic downturn occurs, Klotz believes happy employees are more likely to stay in their current jobs in the face of uncertainty.

“Perhaps as impactful [if not more so]in terms of the reduction in attrition that we’ve seen over the past 15 months will be the changes that many companies have made to the way their employees work,” Klotz said.

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Michael A. Bynum