The "Great Resignation" is an opportunity, not a threat. The Great Resignation is a term used to describe the phenomenon of more people quitting their jobs since 2021 mainly caused by COVID-19 and the perspective change on the way we define career. As some experts say, it is an opportunity for organizations to reevaluate their work culture and improve their employment experience. Others say that, however, it is a challenge for businesses to retain and attract skilled workers. It all depends on what we are looking for in a job and how we define our careers.
There is no such thing as a permanent job. A permanent job is a type of employment that does not have a predetermined end date and usually offers benefits like health care and paid vacations until someone retires or leaves voluntarily. In an academic setting, tenure track is a position that comes with an opportunity to eventually obtain the right to permanent employment. Tenure-track jobs are often considered more stable and secure than temporary or contract jobs.
People may have different preferences and priorities when it comes to choosing their jobs. Some may value a higher income, while others may value more stability and security. There is no definitive answer to this question, but we can explore some factors that may influence our decision, such as our personal goals, merits, financial needs, career aspirations, risk tolerance and work-life balance. We can read from some opinions and experiences of other folks who have faced a similar dilemma in their career choices.
Each corporation may have its own unique culture and challenges. We can learn from some great examples of how leading corporations around the world cultivate their own cultures. However, one size does not fit all. What works for others may not work for us. Corporate culture is the way people in an organization behave and the attitudes and beliefs that inform such behaviors. It can have a significant impact on the performance, engagement and retention of the workforce. To maintain the culture and stability of the workforce, corporate leaders are working hard, but it is certainly more challenging than ever as our desires are fragmented in the era of the Great Resignation.
Managing workers in the era of the Great Resignation can be challenging, but also rewarding. The best young employees want to work for the companies that support their roles to achieve their full potential. To retain them, it is really important to foster a positive, transparent and equitable work environment. It also really helps to support employees' career advancement and self-directed learning experiences. Compensation packages and benefits are hard to ignore, but it is more important to make people feel that they are welcomed and treated generously and fairly. Emphasis on employees' well-being and community-driven and flexible social context at the workplace does not hurt.
Employees want more than just money from their work. We should treat them like partners and genuine human beings. They want things like a sense of meaning and purpose, a positive company culture, recognition for their hard work and opportunities for learning and development. Technology helps solve both parts of the equation by building connections between people and enabling companies to put their values into action. Offering transparency into positions and empowering employees to pursue them can establish an opportunity culture at any organization.
A corporation is not a social club. There are plenty of reasons for corporations to pursue business growth such as increased revenue, profit and leadership position, significance and broader brand recognition in the industry. Customer-centered business pursuits, clear competency analysis and matching strategies and a focus on more than profit are important factors in generating sustained growth in the era of the Great Resignation. AI could replace or enhance human capacity. No matter what direction we take, one thing that we should not forget is people are what matter the most.
To retain good employees during the Great Resignation, which is a phenomenon of increased job quitting and turnover, a people-first hybrid workplace strategy is what management has to consider. Flexible work arrangements powered by AI technologies and also governed by a constant feedback loop with real human interaction, employee engagement, their well-being, career development and growth would make companies stronger than ever.
Daniel Shin is a venture capitalist and senior luxury fashion executive, overseeing corporate development at MCM, a German luxury brand. He also teaches at Korea University.
QOSHE - Navigating the Great Resignation: Focus on people first strategy - Daniel Shinaccount_circleinfobrightness_mediumcancel
The "Great Resignation" is an opportunity, not a threat. The Great Resignation is a term used to describe the phenomenon of more people quitting their jobs since 2021 mainly caused by COVID-19 and the perspective change on the way we define career. As some experts say, it is an opportunity for organizations to reevaluate their work culture and improve their employment experience. Others say that, however, it is a challenge for businesses to retain and attract skilled workers. It all depends on what we are looking for in a job and how we define our careers.
There is no such thing as a permanent job. A permanent job is a type of employment that does not have a predetermined end date and usually offers benefits like health care and paid vacations until someone retires or leaves voluntarily. In an academic setting, tenure track is a position that comes with an opportunity to eventually obtain the right to permanent employment. Tenure-track jobs are often considered more stable and secure than temporary or contract jobs.
People may have different preferences and priorities when it comes to choosing their jobs. Some may value a higher income,........
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