Work Place Disruption – What’s New

Blink:

As vaccination rates rise and COVID-19 hopefully begins to taper off, companies are currently being challenged to reopen their offices. How is it going? Time for an update.

Read On:

For starters, a significant byproduct of the pandemic was 47 million Americans hastily quit their jobs. This sudden shift of jobs was labeled the “Great Resignation.” A nationwide Harris Poll survey conducted at the end of March with USA Today revealed a high level of dissatisfaction among workers and employers.  By the numbers:

  • One in five workers in the past two years who quit their jobs and switched during the “Great Resignation” regret their move and are already looking for a new job – 30% were surprised about what their new jobs entailed, 24% indicated they missed the culture of their previous job while another 24% admitted they failed to weigh the pros and cons before making a shift.
  • Only 26% like their jobs enough to stay.
  • Some employers in numerous human resource surveys have acknowledged they were too quick to hire, thus find the right fit for each job resulting in burnout for new employees failing to adapt and fulfill their new job responsibilities. Note: A Gallup survey indicated that only 12% of employees felt they were prepared for the onboarding process of their new job.

Secondly, a major issue now surfacing in the workplace is the inflated costs associated with the daily routine of R.T.O. (return to office). At the beginning of April, consumer prices were 8.5 percent higher than they were the previous year – overall the fastest 12-month inflation rate since 1981. Two areas workers are feeling the pinch were rising gasoline prices for commuters and “lunchflation” – increased food prices (sandwiches and salads) further compounded by the increased cost of iced lattes or the average morning cup of coffee.

Finally, the future of flexible workplace models is still in flux. McKinsey & Company conducted a survey and fortified hybrid work is popular among a majority of respondents – more than four out of five preferred retaining hybrid work going forward, plus two out of three employees who preferred hybrid work would seek other opportunities if asked to return to fully on-site. Employers still need to work out the dynamics of their hybrid work place models to offer the flexibility of enhancing work-life balance while providing a sense of inclusion – the rising demand employees covet for a sense of belonging and being appreciated.

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