Millenials

Is the “Great Resignation” Here to Stay?

Photo by Ben White on Unsplash

I think the “Great Resignation” is just a huge pendulum about to swing back the other way just as hard. All in all, it’s a giant job swap, not the revolution that people are thinking it is.

Yes, people are leaving their jobs in droves, but how will the market react?

You only need to look at how economics behave on any given day in any market.

Housing: The prices of homes go up, more people rent. Vice versa.

Currency: The value of the dollar goes down, more people buy gold and cryptocurrency. Vice versa.

The market self-regulates by creating financial incentives to drive people the other way, back and forth throughout all of history. How could we think the job market is any different?

What is the “Great Resignation” causing?

When the supply of workers goes down, the employer’s demand for talent goes up. Employers will offer more compensation and benefits to incentivize new workers. “Great Resignation” has really just served to give current professionals a huge pay bump. Employers are offering record-high compensation, causing external job movements to run rampant. Dozens of people left our company this year, but did they leave the workforce? No. They all…