T H E S C O O P THE GREAT RESHUFFLE!

Whyfreelancingisthenewnormal

Explainer: What is the Great Reshuffle and how is it affecting the jobs market?

What is the Great Reshuffle?

As initial lockdowns lifted and life became more “normal”, a large number of people chose to leave their jobs. This has caused record numbers of open positions and staff shortages in some industries. Nearly 3% of the US workforce quit their jobs in October 2021, with some of the highest resignation rates in hospitality and healthcare. But it is becoming clearer that rather than resigning from work altogether, many employees are actually leaving in search of something more fulfilling and better suited to their values and life choices.

As per The Great Reshuffle, many have set up their own businesses, while others have sought betterpaid, more flexible employment, or changed career altogether.

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“People are finding jobs that give them the right pay, benefits and work arrangements in the longer term,” Anthony Klotz, an associate professor of management at Texas A&M University, US, and the person who coined the term “Great Resignation”, told the BBC. “There’s now a greater ability for people to fit work into their lives, instead of having lives that squeeze into their work.”

Along with pay and benefits, flexibility is increasingly becoming a differentiating factor “Leaders must be focused on cultivating thriving cultures of internal mobility, prioritizing continuous learning and delivering robust benefits to support their workers,” says Prudential Vice-Chair Rob Falzon.