The demand for work flexibility is true. Many community members prefer to quit their jobs rather than return to full-time work ( work from office / WFO). This movement began to occur in the United States (US).
The Job Openings and Labor Turnover Survey (JOLTS) report revealed, Uncle Sam's country set a new record with 4.3 million people choosing to stop working in August 2021.
The unemployment rate in August 2021 also marked the highest quit rate since 2000, when the report was first released.
Citing CNN , Wednesday (10/13/2021), the number of workers who quit increased by about 242,000 people compared to July. This is because many workers are demanding higher salaries, better working conditions, and more flexible work arrangements.
The number of people out of work is increasing in the areas of accommodation and food service, wholesale trade, and state and local education.
"If you're not happy with your job or want a raise, in today's environment it's pretty easy to find a new job. We're seeing people choosing that," said PNC Chief Economist Gus Faucher.
Because many employees quit, the company finally scrambled to find new candidates. Job vacancies remained at 10.4 million at the end of August 2021. However, reports said the number was slightly reduced compared to the end of July 2021, or down by around 659,000 people.
Meanwhile in July, the number of job openings reached 11.1 million, the highest record since the report began in 2000.
Chief Economist at RSM, Joe Brusuelas, said this moment could be a golden age for workers. Many workers realize that they have high bargaining power.
Bargaining power comes from a willingness to quit a job they don't like and look for a new job. This shift is not just centered on simple economics, but a broader reassessment around quality of life and purpose.
"Workers are now convinced that they have bargaining power and can get a fair wage. They are aware that they have an influence on the shape of working conditions," Brusuelas said.
In the long term, said Brusuelas, this kind of workforce transformation will be a positive thing. This allows more people to find satisfaction in their careers.
On the other hand, it is possible for workers to earn a living wage and contribute to the wider economy, also reducing the worrying gap between rich and poor.
Previously reported, more than 40 percent of employees in the US will look for a new job alias quit if asked to return to work from the office full time.
It's no surprise, then, that a company like Goldman Sachs has just announced a massive 30 percent pay increase to recruit new employees as it seeks to put employees back into full-time employment.
You must be logged in to post a comment.