05 May Great Resignation? Great Reassessment? Or Great Reshuffling?
The Great Resignation is arguably one of the most devastating events in the talent management landscape. But some would not consider “Great Resignation” as the most accurate term to define this high-profile business phenomenon.
Gina Nebesar, co-founder and CPO at Ovia Health, uses a different term. She uses the “Great Reassessment.” She claims that this term comes from the misconception that workers don’t want to work at all when in reality, it’s that workers are now just reassessing what they’re specifically looking for in a job.
With recent findings from surveys and extensive studies, Nebesar’s term offers a better depiction of what’s currently developing in talent management in today’s time.
Therefore, if a company fails to see this as an opportunity to reevaluate its culture, benefits, workplace set-up, and more, they risk remaining in a position where talent gaps aren’t filled and existing employees will have to carry the weight from unfulfilled tasks and responsibilities. This will most likely affect their morale resulting in low levels of talent retention.
Another terminology used is the “Great Reshuffle” Similar to the Great Reassessment, the Great Reshuffle was born out of the phenomenon where workers began to resign in massive volumes in search of more fulfilling job positions that are better aligned with their values and life choices.
LinkedIn CEO, Ryan Roslansky, gives a simpler definition of what the Great Reshuffle is. He states that it is an unprecedented time in history when all of us are rethinking not just the manner that we work, but also the purpose of why we work.
Possessing one of the largest job market and company data in the world, Roslansky has gained the ability to study trends among volumes of information from the prominent firms down to the small start-ups. So any observation or statement from the business executive offers nothing but credibility.
He sees that companies are now revisiting the way their organizations work. It’s great that companies are re-evaluating their processes and values because workers in modern times – as mentioned – are now reassessing what they will be demanding from the company that they will be working for.
In fact, around 54% of LinkedIn profiles were discovered to have changed jobs. This is huge at a global scale
So what are the demands of today’s talent pool that global mobility and HR professionals need to make sure that their companies can satisfy?
The most evident demand is flexibility. The common notion around flexibility is that workers look forward to working from anywhere they want, but the freedom to work from anywhere is just the tip of the iceberg when it comes to flexibility. Employees don’t just demand flexibility in where they work but the flexibility that is tailored to their specific circumstances.
McKinsey proposes that there are three elements of modern flexibility namely, where work can be done, when work can be done, and how work can be done.
Where work can be done
Now, many companies offer this type of flexibility to their employees. Organizations recognize that workers want a sense of control over where they work and so they adjust their working policies accordingly to meet their demands.
Although several companies want to push for onsite work, employees and job seekers just can’t get around the idea of working onsite when tasks can be literally done from anywhere.
When work can be done
Workers now love to have control over when they’re able to do their work. No one can blame them. Quarantines have taught workers that the freedom to set their working schedules helps them plan out their day right, giving ample time to cater to their personal lives.
It was discovered that 3-in-4 employees reported that this freedom was a key factor for them to decide whether to accept their current jobs. Furthermore, employees are now also raising concerns about late notices on overtime and schedule changes. Abrupt memos are no longer the accepted norm in the future.
This can be quite difficult for companies since they’d have to trust that their workers will deliver quality results at the right time without a fixed schedule set in place. That’s why it is still important to monitor workers’ performance based on their output.
How work can be done
Gone are the days when team leaders get to dictate to members how things should be done. Self-autonomy has been a highlighted factor in today’s job market demands. People just want to do things their way.
From a company’s standpoint, this can be frightening. It feels as if the level of influence it has over its worker is dwindling, but that’s just not the case. Companies ought to empower employees by allowing them to pace their workloads. If they do see subpar output, then it’s the perfect time to intervene and get to the bottom of why a specific employee isn’t producing the desired output that a company expects from an employee.
Global mobility and HR managers will play a vital role in crafting personalized flexibility for their existing and future talent. They must have a say in making business decisions since they are the front liners dealing with people who are subjected to the uncertainties of today’s events.