THE TIGHT LABOR MARKET
Since so many employees are choosing to leave their jobs, most companies have many open positions right now, and are hiring as quickly as they can.
This tight labor market has created the opportunity for people to quit a job they don’t love, without the fear of not being able to find another one.
A lot of companies are also offering more competitive wages due to the tight labor market, so many employees are leaving their current jobs for higher paying opportunities.
Many companies have discovered that their employees are highly productive when working remotely. This has opened the door for organizations to hire more full time remote employees.
This is an attractive option for people hoping to find a new job, because they are no longer restricted by the opportunities that are within commuting distance.
With remote positions, you are able to work from almost anywhere with a wifi connection, which allows you to apply to jobs all across the country, instead of just in your own city, and you don’t have to relocate.
COVID MIDLIFE CRISIS
When the pandemic started, it caused a lot of people to assess where they were in their lives, and ask themselves if they were truly happy. Some discovered they were simply unhappy with their job, and they just needed a change.
Many people took this time as an opportunity to pursue their dreams, and what they’re passionate about, instead of staying in a job that just provides them a paycheck but is not fulfilling.
Companies like Uber, Doordash, and Instacart have created a whole new way of working. These apps allow people to work when and where they want.
The gig economy is revolutionary, and that lifestyle is attractive to a lot of people.
The idea that you can work to make money around your schedule, and you can work as many or as little hours as you desire, is a great option for people who would rather not be tied down to a 9-5 job.
Digital platforms like eBay, Amazon, and Etsy, have changed the way people buy and sell things.
Almost anyone can sell items on these websites. Some people use this as a side hustle to make a little extra money, but others run full fledged businesses by selling goods and services online.
Many people desire to be their own boss, and these platforms make that possible.
Years ago, when you asked a kid what they wanted to be when they grow up, chances are you would hear answers like a firefighter, a teacher, or a ballerina.
But today, kids want to grow up and be YouTubers. The opportunity to create content online, and make a living doing that is exciting to a lot of people, and not just for kids.
SHARK TANK HAS BECOME THE NEW AMERICAN DREAM
While creating a product or service and starting a company is hard work no matter what, it’s become easier to do so in recent years.
There are so many digital tools and resources that entrepreneurs can tap into to help them get their businesses’ off the ground. That has helped many people achieve the dream of starting their own company.
Additionally, the gig economy and positive labor market have decreased the risk for employees interested in leaving a job to start their own venture because they have many options to work part time jobs with flexible hours to support themselves while getting their business up and running.
WHAT CAN YOU DO ABOUT IT?
It can be a major problem for businesses if a large portion of their employees leave. There are multiple ways of solving that problem, some of which involve replacing employees who leave, and others may not.