Employees are quitting in record numbers to start their own business

You may have heard about the “Great Resignation” in recent months, in which more and more employees are leaving their jobs in a mass exodus, no longer satisfied with their work. The movement has been brought on by a variety of factors according to a survey released last week by Digital.com. 

The survey cited many concerns that have influenced employees in their decisions to leave their jobs including desire for better pay/benefits (44%), focus on health (42%), finding a job they are passionate about (41%), and the desire to work from home indefinitely (37%). Additionally, one-third (32%) of respondents expressed the desire to start their own businesses and be their own boss. 

the great resignation,

The Great Resignation: Why employees are quitting in record numbers. (Map photo created by rawpixel.com on freepik)

Employees are reluctant to give up their “new normal”

COVID-19 pandemic completely changed our way of life and how we work and how work is valued. As we all adapted to the changes, many grew to enjoy the freedom of working from home

The pandemic showed us a different way of life, one where work could still be accomplished without being chained to a desk in a drab cubicle for eight hours a day. The flexibility of remote work is something many are not eager or willing to give up. Workers are prioritizing themselves more since the pandemic began, focusing on both their physical and mental health. As COVID-19 variants continue to spread, some worry about their health with the return to in-person work. Others are putting their mental health first, finding more joy in working from home. For these individuals, returning to the confinement of the office is a deal-breaker. From these concerns and desires, more and more employees have embraced The Great Resignation, finally putting themselves first and prioritizing their needs. 

In a Bloomberg article, one employee shared her story, in which a six-minute meeting drove her to quit her job. Portia Twidt, 33, said that this meeting was the last straw, “I had just had it,” she shared. 

The six-minute in-person meeting was one that could easily have been a remote video call. Instead, Twidt got dressed, left her two children at daycare, and drove to work just for a brief chat. 

In recent months, this scene has become more and more frequent as bosses attempt to return to the pre-pandemic “normal” and reign their workers back into the office. However, many employees are just not willing to go back to the inconvenient ways of years past. Remote work has allowed many to achieve a greater sense of work-life balance, spend more time with their families, and just feel better in general with the option of working from the comfort of their home, a park, or anywhere in the world. The Great Resignation has highlighted just how important these values are to employees who are now opting to quit their jobs rather than endure unsatisfactory conditions. 

remote work, working from home

Many are not willing to give up the comfort and convenience of remote work and their “new normal.” (Photo by Helena Lopes on Unsplash)

The Bloomberg article highlighted that a big part of the push to return to the office is due to the generational gap between bosses and employees. “There’s also the notion that some bosses, particularly those of a generation less familiar to remote work, are eager to regain tight control of their minions,” the article states. 

Twidt added, “They feel like we’re not working if they can’t see us. It’s a boomer power-play.”

Gen Z and millennials, being more tech-savvy and adaptable, are no longer interested in the old ways of working. In an article by CNBC, Bankrate senior economic analyst Mark Hamrick said, “Gen Z and millennials are the most mobile participants in the workforce for a number of reasons. They aren’t making as much money as their older, more senior counterparts, so they’re more eager to find higher-paid jobs, and they tend to be more technologically savvy, so they’re in a better position to take advantage of remote work opportunities.” 

“I want to be my own boss” 

Not only are younger employees interested in working from home indefinitely and increasing their pay and benefits, many are also turning toward entrepreneurship. 

According to the survey conducted by Digital.com, one-third of respondents revealed they are interested in starting their own business with 62% of those stating they want to “be their own boss.” Additionally, 60% state they are interested in starting their own business to “pursue an idea they are passionate about.” 

The Great Resignation is inspiring more and more people to start their own businesses. Photo by rawpixel.com – on freepik

The pandemic served as the perfect time for many aspiring entrepreneurs to work on making their dreams a reality. The survey found that 60% of aspiring business owners used their free time during the pandemic to educate themselves on starting a business. Others were able to use the stimulus money they received to help fund their ventures. 

Currently, the three main areas in which people are starting businesses is computer and information technology, retail, and personal care services. The key for many, is following their passion and doing something they love. 

industries new businesses

Infographics: Digital.com

Startup consultant and small business expert Dennis Consorte, said on Digital.com, “Many people believe that business ownership means setting your own hours and answering to no one. The truth is that for many business owners, a half-day is twelve hours, every single customer is your boss, and you have to hustle to stay afloat. However, by pursuing a passion, work won’t feel like work, but will instead give you purpose, which is far more valuable than the dollars earned.”

Consorte also highlighted the importance of having an online presence as a new business in 2021. The world has become increasingly more digital in the past year, so even “brick-and-mortar” shops need to consider their online presence as a crucial aspect of their business marketing. 

“New small business owners need to develop some kind of online presence. Social media is a good start, and a website will give you a lot more control over your database and marketing options” Consorte advised. 

You might be interested: Cloffice: The latest work-from-home trend to transform your workspace

It’s unlikely that we will ever return to the pre-pandemic “normal.” The Great Resignation has shown that people are not willing to go back to the old ways. Our new normal is now one that is digital, remote, and independent. Employees have learned to value their time and labor. Others are venturing out on their own to follow their dreams. The pandemic helped put it all into focus and re-prioritize what is important: freedom, health, and financial stability.

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