This is one of the most fascinating paradigm shift that took place in the business world in a long time.
COVID-19 changed a lot of things. It came on quickly and generated a lot of turmoil for businesses. Major disruption was thrust upon employees, who are told "we are all in this together". In the end, it turned out to be a bunch of crap.
As soon as things started to clear, all the talk of the "new normal" disappeared. Instead, companies started to discuss how important it was to get employees back into the office.
The problem is that something interesting happened along the way. Employees started to question what was important to them. No longer did they feel obligated to be loyal to companies that laid people off at the drop of a hat and, those who weren't let go, were forced to figure out how to set up a work from home environment.
Now, to top it off, insecure middle managers are pushing to have employees called back to the office.
People simply are not standing for it anymore.
Take This Job And Shove It
The one-sided relationship is starting to shift. Employees woke up to the fact that their loyalty is misplaced.
There was an article in the Wall Street Journal, and here is an excerpt:
The Covid-19 pandemic damaged economies across the world, some more than others. While we all retreated into our homes and adapted to working from there, many of us wondered whether this was the future of work. Expensive real estate and offices sat empty as companies and organisations continued to grow – all run from home offices. Now, as vaccinations become more widespread, many companies are slowly bringing employees back to the office. Of course, this is being met with derision by many, who fear for their safety and mental wellbeing. But, as The Wall Street Journal reports, many in the United States have simply decided to never go back to the office, quitting their nine-to-five jobs in order to pursue their dreams. In South Africa, the reality couldn’t be any more different. Millions of people lost their jobs as the country went into lockdown, paralysing the tourism, liquor and tobacco industry. Now as the economy opens up again, there seems to be some hope of economic growth. However, those who are lucky enough to have a job are keeping them, with new opportunities remaining scarce. That being said, stories of South Africans quitting their jobs during the pandemic – due to stress and mental health priorities – are becoming less uncommon. – Jarryd Neves
Basically people are not taking it anymore. Companies felt that by giving little, they could ask the world. Instead, people found that they has more satisfaction staying at home and utilizing technology as opposed to commuting into the office for two hours per day.
The idea of 2.5% annual raise (if lucky), company picnic, 401K, and premium coffee were not enough to offset the relatively low wages for hours worked, corporate politics, and the cesspool that the office environment.
Technology is creating a new world, presently people with new opportunities. Isn't it ironic that technology companies are some of the biggest culprits of fighting this new trend?
In spite of the attention this is receiving, companies are pushing workers back to the office. And there is a surprising response: people are quitting.
The ole "take this job and shove it" is coming into play. Record numbers of people are quitting which is putting companies in a tough position. It is very expensive to hire and train, yet that is what they are having to do. We can expect this trend to continue as people are quitting even without replacement work.
Leaving The Plantation
It seems like the slaves are rebelling.
For the past few decades, the power of corporations grew while employees found themselves with less leverage. Since we exited a manufacturing based economy, the situation completely flipped.
While few would assign this term, we do saw a form of financial slavery evolved. Many were stuck because of their financial circumstances. Companies paid just enough in wages so people would not quit while workers put forth the amount of effort required to keep the job. It formed a truly adversarial relationship in spite of the rhetoric that was spun.
According to surveys, there are a record number of job openings. This correlates to what we are seeing with people quitting. Since they are exiting the positions they previously occupied, companies are having to fill these roles. The challenge is that people are not willing to take then easily.
Hence, companies are having to push up wages and provide other incentives to entice people to accept the positions. Sadly, for them, this will not work.
Once the slaves leave the plantation as a unit, there is no turning back.
The reality is the work environment is changing completely. Employees are finding they have a lot more power as compared to before. The fact that millions are waking up to this fact means that other options are appearing. As this progresses, the evolution of a "digital workforce" will emerge. This people will not work for just one company but do so for many.
Why this is destined to happen is simply for the fact that productivity is going to increase. This is what is astonishing about the lunacy of bringing workers back to the office. In 2020, productivity exploded for companies that were able to transition while profits soared. At the end of the day, a company should care that the assigned tasks are done, whether it is done between 8-5 or at 11 PM at night. Plus, if one can get it done quickly, that is what matters.
Yet this is not how it is viewed. Hence the insecurity of middle managers (and many C-Level executives) is going to cause companies to lose a large percentage of their workforce. The most valuable will leave first since they have the most value on the open market.
This is going to mean that finding replacements is even harder. Ultimately this will cause these corporations to fall further behind.
Now employees are evening things out and quitting is the equalizer.
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