The headlines continue to scream The Great Resignation and Quiet Quitting. Scores of people have decided to leave their jobs, are thinking about leaving their jobs, or are actively seeking new opportunities while working at their current employer. Yet, the headlines are noticeably short sighted in their coverage regarding these trends that are redefining the business world. Semantics matter and focusing on the simple act of cutting a business relationship minimizes the redefinition of value between employees and employers.
What a difference it would make if the headlines read The Great Realignment and focused on how value is being redefined during this time. Employees are increasingly aware of what value they seek in an employer and have better defined the value they can bring. Many employees have determined the flexibility and intangible benefits of working remotely are of significant value to their work life balance. Employees are no longer interested in free meals or driving themselves into the ground just to climb the corporate ladder. They are interested in striking a harmonic balance with their employers where they feel they can deliver optimal value with collaborative teams and feel valued, heard, and appropriately compensated by their employers.
With this shift, many employers are struggling to adjust to the wave of shifting value dynamics, the ability to attract previously unreachable talent through remote work, and the need to redefine not only working styles, but also their culture to remain competitive. These changes can seem overwhelming and when the ability to hire is not keeping pace with the rate of resignation, companies are pushing their existing employees to do more with less. For those companies who fail to find the balance of value with their employees quickly, the problem escalates as morale sinks, results decline, and the potential for layoffs increases as the company struggles to meet their numbers.
Though The Great Realignment may not be as newsworthy as the depressing The Great Resignation or Quiet Quitting, the undercurrents of the realignment of value between employees and employers was growing even before the pandemic. The definition of value is constantly evolving, and long-term success will come to those organizations who listen to their employees and continually align the balance between the value they gain from employees with the value their employees get from working for them.
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