In this blog, I discuss why so many people are quitting their jobs to pursue a different career path. This massive shift of people resigning is being referred to as 'The Great Resignation'. Studies report that anywhere from 25% up to over 50% of people are either considering leaving their job or have already left their place of employment before the pandemic. It's important to understand what exactly is fueling this rapid shift of the workforce and how it impacts the future of the entire marketplace. Examining the root cause of why so many people are taking their power back shows where the future workforce is likely heading. 

Sneak Peek:

• The Great Resignation
• Why People Are Quitting Their Job
• Earning Potential & Career Growth
  

It's no secret that workers are craving more flexibility, control, and rights over their working environment. Large corporations are adapting to retain and attract new talent. However, even though we are exiting a period where unemployment hit record highs, people are still reluctant to keep their current jobs and are looking for that next step.

Millions of workers are quitting their jobs and it's happening at an unprecedented rate. To understand the great resignation and everything that's going on we need to first take a step back to about a year and a half ago when the unemployment rate skyrocketed and was at the highest point since the Great Depression period. The world was shutting down into lockdowns. Many companies had to either lay off a large percentage of their workforce or furlough them. During this time a lot of people also experienced pay cuts.

All of these factors played a contributing role and took a huge effect on the entire globe and life as we knew it. From all the financial support that got injected into the global economy to keep everyone afloat, there was a ripple effect that occurred. However, this has started to shift and companies are actually having a hard time hiring people now. So there have been a lot of new efforts in the last few months to try to get more people on board by increasing minimum wages, offering multi-thousand dollar signing bonuses, and even waiving THC from drug tests. This is all a sign that even though the unemployment rate was at the highest point it's been in decades, now people are reluctant to get back to working their old job or they have already resigned.

Many people are quitting their job due to multiple different reasons. The first reason is the lack of flexibility in a regular job. Workers are craving more flexibility. They want to be able to work from home. They also want to be able to avoid those lengthy commutes in and out of the office multiple days a week. More and more people are getting comfortable working remotely from home. That is why working from home and working remotely is here to stay.

Even CNBC did a feature on why so many people are seeking to have more flexibility in their career and the ability to work from home. In another CNBC YouTube Video, a Google Representative stated: “When we were in the space of not connecting where we ended up as a company is offering as much flexibility as we could to enable Google employees to optimize for themselves while also giving teams what they needed. A default option that we think most employees are going to take advantage of which is coming into the office three days a week and working from another location two days a week. This lets you do all the things we came to love about working from home while also getting that moment of connection and the ability to do innovative work in person in the office.” So even large corporations like Google and Facebook are having to adapt to the new workforce changes. They are letting loose of control and allowing their employees to have more flexibility which is great for the workforce and employee rights.

This means they're giving their employees two days a week to work remotely and to have more flexibility in their days. This is something that has been a byproduct of the rapid shift to working from home and all of the studies that came out. CNBC also mentioned people were comfortable working remotely and working from home. They got their desks set up and they figured out a schedule so their kids and their pets weren't in the background all the time. Once they get that sorted out everything is pointing to more productivity when you're able to have that flexibility and when you're able to control your daily schedule. When you're able to work from home or work from wherever you want to as you're traveling that ultimately leads to more productivity. It's not just having more flexibility that ultimately means that you're going to be more productive. However, this is what workers are going for and companies and corporations are working towards. The way the whole world is working is rapidly shifting to meet that demand to retain talent because these businesses and these companies can't have their entire workforce leave or they won't have anyone to get things done. 

People are looking for more control over their career and their day-to-day working schedule. Since the pandemic, it has shown that we can be productive when we work from home. This is because we have tools such as Zoom. We can get contracts signed. We can do about 90% of the things that you can do in an office you can do remotely and then that extra 10% can still be done in the office place. However, companies such as Google and Microsoft and these massive corporations have a lot of incentive to still get their employees into the office. This is why people are even considering quitting great career roles because even though they're offering more flexibility. However, they're not giving away all the control. This means they're not saying you can just work remotely forever, they're saying there needs to be some sort of compromise and a lot of people don't want that. That's the first reason so many people are quitting the great resignation is they're looking for even more flexibility than companies are now offering.

The second reason so many people are quitting their job is because of their earning potential and because of their career growth potential. This all goes down to what people want to do in life and a lot of times unfortunately it takes something kind of traumatic to happen for you to look at your life and to analyze where you're going and if you’re going on the right path.

As the last year and a half has shown so much uncertainty it made so many people just dig deep inside and look into the mirror and ask themselves what they want to do with their life. Are they going on the career path that they want to do or are they doing something that they're just doing to get by? Or something that they thought their parents or someone outside of them put on them. So people are reanalyzing that and not only are they asking themselves what they want to ultimately do in their career but they're also looking at making more money and being able to earn multiple flows of income.

A large majority of the people that are leaving and quitting are because they see themselves in a dead-end job. They're never going to make anything out of it. They see that this dead-end job might be able to pay the bills right now but they're looking at where they should be setting their foundations up. That's the second reason people are quitting their job is to see more growth opportunities and earning potential. Whether that's making more money, or creating the career you want for your future. It all comes down to setting yourself up on the best path for your personal journey. Only you can know what is truly the best option for you.

The third reason people are leaving their jobs is that they are discovering a new way to work and that is making money online whether that's as a freelancer, a consultant, or starting your own business. There are millions of people creating businesses and learning how to get out of the nine-to-five grind. They are learning how to escape the hourly trap and to take their control back. They are seeing that they can start freelancing and offer value for the services they provide instead of getting paid for their time. I personally found the best way to do that is to become your boss to get your power back and take control back over your life. This is what so many people have been doing, but it takes a certain type of individual to be successful.

That is why I firmly believe freelancing is the future. Here is a statement from Upwork's CEO about this topic:

"Even talented individuals are leaving full-time positions at a lot of companies. They're not all moving to their next full-time position at another company. A lot of them are choosing to set themselves up as freelancers. In 2020 more than 20 million Americans freelanced for the first time and 60 percent of those that were surveyed  said that there was no amount of money that they could be paid to go back into a traditional full-time job because the benefits of freelancing were working so well for them, including the flexibility to work when where and for whom they wanted to work, to set the terms of their employment, and set their rates and focus on the types of work that they enjoyed most. This has been a growing and popular area of the workforce including for younger generations of workers such as Gen Z. More than half of them are already freelancing today. so the best companies have started to figure out that tapping into freelancers on platforms such as Upwork has been a very proactive part of their workforce strategy."

On the other side of the token, the businesses hiring talent are also fueling this shift towards freelancing. Companies are realizing that they need to be able to access talent for all the same reasons people are quitting their job. Now, companies get to hire talent from all over the world, to not be geographically limited to one area and be able to access that talent that they need.  So just like with anything in life you need to be ahead of the curve and be able to see where things are going and if you can position yourself as a high-paid freelancer or an expert consultant, you are likely to have success based on the direction the workforce is headed.

In Conclusion

To recap, this is a great moment for companies and talent alike seeking flexibility and those who are seeking new ways of working together. Alongside, there has been a major shift in companies where they are now bringing freelancers into the core of their operations in new ways. The workforce is changing. Freelancing is the future of work, not just on the freelance side but also on the client side and on the corporation side. Watch the full video to discover the three reasons why people are quitting their jobs and how you can use that information to profit.

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