Episode 30: The 4 Great R's - Resignation, Reshuffle, Restructure & Regret

Since the pandemic, the workforce has seen some highs and lows. The Great Resignation, The Great Reshuffle, The Great Restructure, and The Great Regret are all terms used to describe the workplace's three-year roller coaster ride. The last few years have been a whirlwind of emotions for employees and businesses, and we are seeing a large number of people emerge from the pandemic even more confused about the state of the economy. Episode 30, host Jessica Fiesta George discusses each of the stages of these pandemic-led phenomenons.

• The "Great Resignation" was the unusually large number of employees who voluntarily left their jobs to pursue other opportunities. People were leaving jobs in search of better working conditions and remote work opportunities.
• The "Great Reshuffle" took place when employees decided to move from job to job in search of the best combination of opportunity and pay. Companies were transferring employees from one job to another in the hopes of retaining them, and they were offering higher wages and better benefits in exchange.
• The "Great Restructure" went hand in hand with the "Great Reshuffle" because organizations were forced to find ways to retain and attract employees. Employers were doing everything they could to stay ahead of their competition, throwing resources and money to ensure they were top of mind for many jobseekers, including increasing base pay, offering sign-on bonuses, accommodating hybrid work options, 4-day work weeks, and more.
• The "Great Regret" both employees and businesses are discovering that the grass isn't always greener on the other side. Employees were drawn to all of the perks only to discover that it wasn't all that it seemed, and they are desperate to return to their previous jobs. Employers spent a lot of money on things they thought would help them attract talent, but they didn't consider the financial impact of increasing pay/benefits, and they're now regretting it.

As a result, many businesses are facing financial difficulties and are laying off employees or slowing hiring. Learn more about Jess Get Hired: https://linktr.ee/jessgethired

This episode is sponsored by Newsly: The all-in one audio super app for iOS and Android. Download and use Newsly for free at www.newsly.me promo code: JESS for a 1-month free premium subscription.