Dr. Bernhard Hein’s Post

Great Resignation 2.0?! The term “Great Resignation” and “Quiet Quitting” became catch phrases in the peak of hiring in 2021/2022. It was a candidate-driven market then. Now, it is an employer-driven market and the “Great Resignation” is making a comeback?! Led by Millenials, Gen X and Gen Z employees, 28% of employees plan to change jobs in 2024, up from 19% in 2022 (47% increase!) Is it wise for candidates to consider changing jobs with the macroeconomic pressures and millions of employees impacted by layoffs in 2024? What’s driving this? Inflation? Candidates seeking higher income paying jobs to offset costs? Studies show that from 2023 to 2024, there was an average 2.9% merit increase awarded across all employees who stayed with their employer yet an average 10% increase in salary for those who resigned and sought opportunity elsewhere. Will this surge of resignations apply pressure to employers on retention programs (ex. retention bonuses)? So many questions where answers remain unknown. Time will tell. TalentoHC #BuildYourBestTeamYet

🌟 The Great Resignation may be over, but we're now facing the challenges of the Great Talent Stagnation. Employers are concerned about the lack of qualified applicants, while workers are eager to acquire more skills. Per the latest Career Optimism Index study, there's a significant gap between how companies perceive their workforce and how workers view themselves. The study highlights the need for clearer and more flexible opportunities for internal advancement to harness the immense potential of existing talent. #TalentStagnation #WorkforceDevelopment 🚀 https://lnkd.in/eM5DP8_B

We all remember the 'The Great Resignation'. But have you heard about 'The Big Stay'? Well, it seems just a couple of years since the job hopping of the post-pandemic workplace, employees are increasingly prioritising stability and choosing to remain in their current roles. Read more from Generation CEO Mona Mourshed for The Independent on the new workplace trend dominating the headlines and why, against this backdrop, there is a real need for employers to consider how they can develop the skills of their existing staff. Let us know if you've started to see these trends change in your workplace in the comments 👇 #GreatResignation #BigStay #workplacetrends

📈 The Great Resignation has transitioned into what is now being called the Great Talent Stagnation. According to the University of Phoenix Career Institute's latest Career Optimism Index, there's a major gap between employer expectations and the reality employees face. While over half of U.S. workers surveyed feel replaceable and lack opportunities to advance, nearly half of employers report struggling to find qualified candidates. This discrepancy highlights a clear need for businesses to invest in internal growth and skill development, not only to enhance productivity but also to save potentially $1.35 trillion in turnover costs. Let’s bridge the gap by valuing and developing the talent within. #TalentManagement #CareerDevelopment #BusinessStrategy https://lnkd.in/e8XhrQQR

People quit ther jobs. That's just a fact of life... Sometimes it's avoidable, sometimes it's inevitable - but either way, understanding the reasons behind attrition can help you understand it. And avoid losing your best talent. Read why benchmarks can give you those answers: https://lnkd.in/e3_n5Wgn #benchmarks

Is the “Great Resignation” of 2021 and 2022 set to make a comeback in 2024? “Take this job and shove it I ain't workin' here no more…” Remember the “great resignation” period just a few years ago when, at its height, some 4.5 million workers were quitting their job each and every month? Could there be another great resignation poised to strike the job market again here in 2024? New forecasts by Microsoft and LinkedIn hint at just such a return. In “Nearly 50% of People Are Considering Leaving Their Jobs in 2024—More Than During the ‘Great Resignation’” written by Morgan Smith and just published on CNBC, you’ll learn several reasons why so many people are taking a hard look at their current job and choosing to look for a new one. Again. Here’s a quick excerpt from the article: “Nearly half (46%) of professionals say they’re considering quitting in the year ahead — higher than the 40% who said the same ahead of 2021′s great resignation, according to new research from Microsoft and LinkedIn, which surveyed more than 30,000 people in 31 countries between February and March 2024.” Take a moment to delve into this intriguing exploration of the emerging trend towards increased job mobility. Understanding these dynamics can better equip both companies and individuals to manage through what looks like a challenging and changing job market ahead. “No one can discover you until you do. Exploit your talents, skills, and strengths, and make the world sit up and take notice." - Rob Liano #employment #careers #changingjobs #jobsearch2024

So I have seen this article posted by a few people this week. I am wondering how accurate it is with the way the job market and economy is right now. I am sure there are some that will leave their job by the end of the year in the article it says 28% but you know click bait for articles 3 in 10 and 2.0 may get the article a little more attention.@usatoday What are your thoughts? Comment Below #thegreatresignation #iquit #newjob

💼 Call it what you want: The Great Reshuffle or The Great Resignation 2.0. Either way, get ready for a period of high turnover... 👀  Some studies show that 85% of employees plan to change jobs in 2024 (https://forceb.co/3UOvR8j). According to data from our own survey (to be released soon!), we found that 45% of those polled are planning to switch employers in the next 12 months. Are you one of them? Let us know in the comments section below if you've made a career move this year. More on this popular trend here: https://forceb.co/3UOvR8j #TheGreatReshuffle #TheGreatResignation #hiring #JobMarket

The "Great Resignation" Is So Over - U.S. Data Remember when it seemed like everyone was quitting their jobs during the "Great Resignation"? Well, those days are firmly behind us, according to the latest Job Openings and Labor Turnover Survey (JOLTS) data from the U.S. Bureau of Labor Statistics. As you can see from the chart, the quits rate (resignations initiated by employees as a percentage of total employment) has dropped significantly from the peak levels of early 2022. In fact, at 2.1% in January 2024, it's back around pre-pandemic norms. Of course, some churn is always healthy for the labor market. But the slowdown in quitting could signal employees are more hesitant to leave their current roles amid economic uncertainties. Employers hoping to hire or retain talent may need to emphasize job security and opportunities for growth. Source: U.S. Bureau of Labor Statistics Job Openings and Labor Turnover Survey news release https://lnkd.in/dSXp62P

📢 The ‘Great Resignation’ is over but The ‘Big Stay’ is here … In an article in The Times yesterday - ‘After the great resignation, workers decide to stay put’ - the paper discusses findings from a recent survey of 2,000 companies carried out by The Chartered Institute of Personnel and Development (CIPD). Supported by various figures, The Times flags that the so called ‘Great Resignation’ is well and truly over! 😮 It's been replaced by the ‘Big Stay’, with more people opting for job stability and 💲💲 financial security, worried about rocking the boat 🚢 and possibly being last-in-first-out amid the UK’s uncertain economic outlook. As a UK recruiter, we have definitely seen the impact of this … Regularly explaining to clients why the market is not replete with amazing CVs, and telling candidates why there are not so many great roles out there. However, on a more positive note, The Times also quotes from the CIPD, which believes that the hiring market is slowly returning to pre-pandemic levels, even if only 30% of companies expect to increase staff numbers this Summer, and many are still reporting hard-to-fill vacancies. Hopefully the CIPD is correct, and we will see a gradual increase in the number of jobs in the market, but what is clear is that with fewer resignations and vacancies, the balance of power is moving back in the direction of employers. From our perspective, what are the messages here? ✅ For Candidates – Be confident and polish up your CV, making sure your achievements, your story and your pitch is clear and compelling. The market will pick up as the economy recovers! ✅ For Clients – Look after your existing people. Invest in developing them and providing development opportunities. ✅ For Recruiters – Build those robust relationships with clients and candidates, and demonstrate that you know your stuff, and can offer the added-value that both are looking for. www.tarshandpartners.co.uk Experts in marketing, brand, digital and commercial recruitment 📧 info@tarshpartnership.co.uk 📞 +44 20 3897 6676 Adam Tarsh | Janine Darley | Alex Hooper