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How Strong Leaders Can Help Your Company Navigate the Great Reshuffle
The Great Reshuffle, also known as the Great Resignation, is the ongoing trend present over the last two years in which people have voluntarily quit their jobs to pursue what they believe to be better opportunities – whether they be financial, lifestyle-related, or career development motivated. New factors for job seekers that came out of the pandemic, like the opportunity to work remotely, or concerns around job stability because of economic uncertainty, are driving the Great Reshuffle. This phenomenon has resulted in unique challenges for organizations regarding hiring and retaining top talent. Let’s look at the current employment landscape.
The Great Reshuffle is showing no signs of slowing. According to an ADP survey, as many as 70% of global employees have contemplated a major career move this year. People are leaving their jobs for roles that offer better work-life balance, pay, management, or a greater sense of purpose, while employers scramble to replace those who have left.
People have more options around where and when they work. New hybrid and remote work options now put a large part of the workforce in a position of power. Many job seekers are no longer limited by their geographic location or proximity to an office. For this reason, organizations are seeing increased pressure on human capital and now have to compete globally to attract and retain talent.
Employees want opportunities for advancement. The lack of career growth and development opportunities was one of the top reasons employees gave for leaving their roles in 2021. It’s critical for organizations to prioritize ongoing learning and career development opportunities for their employees in order to keep them satisfied in their roles and prevent them from looking for a new one elsewhere.
There’s widespread economic uncertainty. The Washington Post reported earlier this year that, “Big Tech is bracing for an economic recession and an uncertain future,” citing news of layoffs, slowing venture capital investments, and hiring freezes in Silicon Valley. This economic uncertainty means it will likely be more difficult to acquire top talent and skilled leaders who can help companies meet the challenges that may arise.
