The year 2021 was a time that brought about many challenges for businesses of all sizes and industries. As the world began recovering from the COVID-19 outbreak, a phenomenon known as “The Great Resignation” started making headlines. Companies experienced record-high resignation rates, particularly in the tech and healthcare sectors.
To make matters worse, business owners had great difficulty filling the empty positions left behind by those who quit their jobs, leading to a significant labor shortage that affected companies, consumers, and the economy as a whole. Thankfully, this 2022, it seems that we’re now heading toward a “Great Resignation” recovery period.
Now that a new year is upon us, it’s time to ask this question: What happens after “The Great Resignation” in 2022? In this article, we’ll take a look at the different possibilities U.S. businesses can expect for this year and beyond, according to the predictions of expert analysts. Then, we’ll tackle how your company can prepare for any of these phenomena!
A Look Beyond ‘The Great Resignation’: What American B2Bs Can Expect From 2022 Onwards
The new year is the perfect time for a fresh, new start. Now that we’re moving away from “The Great Resignation,” let’s look forward and see what’s on the business horizon this 2022. Here are a few possibilities U.S. B2Bs can expect this year:
The Great Onboarding
Since many workers quit their jobs in 2021, it’s reasonable to expect many people to start searching for new work opportunities this 2022. And that’s why American businesses should begin preparing for a possible “Great Onboarding.”
According to Qualtrics XM Institute research, 52% of the American workforce (or about 72.4 million employees) will likely be looking for a job within the next six months. This number is a 14% increase from 2019.
Beyond “The Great Resignation,” workers will be seeking better compensation, flexibility, and safety in their ideal work environment. So, companies who wish to stay competitive should take these into account while also investing in creating a seamless onboarding experience for their potential employees.
The Great Reshuffle
Even though “The Great Resignation” in 2022 may continue further, some analysts say that companies should see the positive sides of the phenomenon rather than focus solely on the negative. Instead of seeing it as “The Great Resignation” where labor is in short supply, look at it as “The Great Reshuffle,” where businesses can find new quality employees as long as they are willing to make changes and adapt to the shifting labor market.
“The Great Reshuffle” offers the most exciting new opportunities that American businesses have seen in a while. Employers and employees can have a strong relationship built on shared values and a joint mission in this new trend. Analysts predict that trust and support will be the core of a company’s success in attracting and retaining workers.
The Great Relocation
During the pandemic, remote work became necessary for many Americans to avoid exposure to the virus. However, as the world starts to move forward from COVID-19, working from home has become a preferred option for many U.S. workers. This attitude is what is driving “The Great Relocation.”
In one survey, 53% of respondents say they would work an extra 10 hours a week in exchange for full-time remote work. Following “The Great Resignation” in 2022, employees have the upper hand when it comes to negotiating the terms of their employment, and many are choosing to work from home.
Because of this new, more flexible work arrangement, many people are relocating to places away from their office locations. In fact, 41% of Americans say they would accept a lower salary as long as they can move somewhere more affordable. To remain competitive, businesses must adapt to this post-pandemic trend and provide possible hybrid work models to attract and retain quality talent.
The Great Rehiring
Once “The Great Resignation” in 2022 ends, the labor market will start making way for “The Great Rehiring.” Some analysts suggest that this trend may have already begun, with one report stating that companies are making 50% more hires per month now compared to the beginning of 2021.
According to one survey, hiring is now a top priority for at least 84% of CEOs. However, during this period of rehiring, employers must learn to adapt to the changing workplace trends to entice top talents into their workforce. The top benefits that job seekers currently want in their ideal jobs are:
- Flexible Schedules (63%)
- Hybrid or Remote Work (57%)
- In-Office Perks (12%)
The Great Retention
Although “The Great Resignation” in 2022 and previous years was an unexpected phenomenon, primarily driven by the ripple effects of an unprecedented global pandemic, businesses can learn from what occurred during this phase. And here’s one lesson to take away from this whole situation: Attracting quality workers is not enough to succeed; companies must also find ways to retain existing top employees.
So, how can American businesses go beyond “The Great Resignation” and shift toward “The Great Retention”? The key is to listen to what employees want and become more proactive in improving their work culture and processes. In addition to the greater desire for remote work, many employees lean toward companies that communicate their purpose and passion.
The Great Attraction
The pandemic has irrevocably changed what employees expect from their employers and workplaces. If your company wants to move away from “The Great Resignation” this 2022, it’s time to start re-evaluating the office and work culture to make way for “The Great Attraction.” According to McKinsey’s research, improving communication between employees and employers is key to making your workplace more successful in hiring and keeping workers.
The Great Reevaluation
Some analysts suggest that, instead of viewing “The Great Resignation” of 2022 as a period of struggle, businesses should see it as the perfect opportunity for reevaluation. Since the pandemic caused many workers to reconsider their career choices, companies can also take this time to reevaluate their current practices and make changes that will improve their employee retention.
One essential change businesses can make to enhance employee satisfaction is helping workers achieve greater work-life integration. According to one recent survey, 93% of employees want more flexibility in their work schedule, while 76% want flexibility in their work location. This desire for greater flexibility was caused by overwhelming work-related burnout and stress that many people experienced during the pandemic.
The Great Recovery
The good news is that analysts are seeing signs that the “Great Resignation” recovery period is coming soon. According to the U.S. Bureau of Labor Statistics, the unemployment rate in October 2021 fell to 4.8%, compared to 14.7% during the beginning of the pandemic.
This data tells us that the labor shortage is being addressed, and more businesses are filling job positions this year. Let’s welcome “The Great Recovery” and look forward to more positive outcomes this 2022!
Be Prepared for Whatever Comes After ‘The Great Resignation’ This 2022!
No matter what happens beyond “The Great Resignation,” it’s essential for your business to stay informed and prepared for whatever challenges come your way. And the best way to enjoy operational versatility and flexibility is by partnering with a BPO provider that offers scalable outsourcing solutions – like SuperStaff!
At SuperStaff, we have made it our mission to equip companies of all sizes with the outsourcing services they need to remain competitive amid an ever-changing business landscape. Our professional and experienced team keeps up with shifting market trends and utilizes the latest technology to keep your business running smoothly even during uncertain times.
If you’re worried about what comes after “The Great Recovery,” SuperStaff can be your partner in developing an operational strategy that allows you to grow your business but is flexible enough to accommodate changes in the market. Connect with us, and learn more about what our offshore outsourcing solutions can do for you!
