Should we count on others joining The Great Resignation to free up the jobs market?
An ‘army of retired teachers’ is being enlisted back to school to deal with staff shortages in the Omicron crisis.
The ‘great resignation’ is sweeping the Western world with surveys suggesting 40% of the global workforce are considering changing work.
With the migration tap turned off there’s a drastic need for workers in all sectors to keep this country moving.
So what does it all mean for the older worker or more recently retired Australian who wants to stay in the jobs market?
And will all the hype about the ‘ Big Quit’ and its consequences change plans about your working future?
In NSW, the Sunday newspaper front page said “experienced teachers will be lured out of retirement” to staff schools.
Professional networking platform LinkedIn commissioned research that said 58% of workers were looking to switch jobs and rethink their career paths in 2022.
It’s hard to avoid references to the Great Resignation, which has manifested itself more in the USA as workers re-evaluate their post-Covid lives. Some 35 million quit work.
But how far will this free up job markets for those who have felt the sting of age discrimination or have the skills now in short supply?
It’s a tempting prospect, and as perception counts for so much in the world, those interested should consider these changes a plus in their quest for work.
But there are some interesting trends to factor into your decisions. The largest category in the US resignation is those over 50 either looking for better jobs, starting a business or opting for early retirement.
As in Australia, many of these Americans have saved up big in the lockdowns and benefited from house price appreciation. It’s also said stagnant wages and job insecurity in the past decade have dissuaded finding new jobs, and we are seeing a big catch up.
Again in the US, and it is happening here too, there’s the rise of the mid-life or second-life entrepreneur, proving that start-up tech businesses are not the monopoly of the young.
The other side of the argument is that what we are really seeing is a surge in retirement and early retirement, although not always in the traditional “ feet up and play golf model.”
COVID has undoubtedly shaken up the world of work, and the repercussions are far from over.
I’ve heard of a professional older woman who’s retrained as a truck driver because she wanted a change, and there was a shortage of truckies to keep the country going.
It might not be as dramatic as that, but what stories do you have about how talk of the Great Resignation will or may not affect your plans?
Any information contained in this communication is general advice, it does not take into account your individual circumstances, objectives, financial situation or needs.
