The Calm Before the Storm
The relative quietness in job searching around the holidays can feel uneasy, especially when you’ve already decided that you are ready for a new working experience as soon as humanly possible. While you’re riding out the next few weeks, know that there’s good reason for optimism, especially in 2022.
I’m predicting that the Great Resignation/Great Reshuffle is going to not only continue, but actually accelerate as we head into 2022. This year, according to the U.S. Bureau of Labor Statistics, there were multiple months where the number of employees choosing to leave their jobs set records, with the highest being September, where 3% of all employees chose to quit. There are many reasons that this is likely to continue.
First, there have been many reports that some people who are planning to change their jobs in the next few months are sticking with their current employer in order to secure their annual bonus. Some people are also waiting to see if they are promoted or receive a salary worthy of staying at their current job by year’s end. But because of an epidemic of poor management in the US, I predict that it will be very difficult for employers to retain disenchanted employees, especially because these employees know they are likely to be better compensated elsewhere. Wages are increasing across the country. From October 2020-October 2021, salaries increased an average of almost 5%.
Second, as I’ve written about extensively, many employees have become accustomed to, and have come to prefer, working from home. Many employers are allowing workers to choose whether, how, and if they return. But still others have stubbornly announced (and then revised) expected return dates to the office. Many employers have revised their return to office dates from after July 4th 2020, to after Labor Day 2020, to after New Year’s 2021, to after Labor Day 2021, and are now committed to after New Year 2022. While some companies (like Google) have again delayed their return dates in light of Omicron, some employers are forging ahead. They’re out of touch with their employees, over half of whom would rather quit than return to the office.
Third, statistically, hiring is slow during the holiday season. December regularly sees about a 25% fewer hires than a typical month before bouncing back in January. This year, as I’ve heard from clients and employers alike, companies are holding off searching in earnest until the new year not only because of the typical seasonal reasons, but because they know that in 2021, many well-qualified employees are waiting to make moves until the new year.
Of course this doesn’t mean that if you are currently seeking a change that you should slow your efforts in the final weeks of the year. In fact, it’s time to spend some time laying the groundwork for success. While there are fewer postings, there are still some new ones, and there are fewer people applying for those positions this month. It’s also a great time to be networking and learning about potential career paths and employers so that you are thought of immediately when job openings are announced in the new year. I write this primarily to share that knowledge is power. Understanding the dips and surges in the marketplace helps demystify the process and decrease the feeling of frustration that is natural when you’ve put yourself out there and still feel like you’re not getting any traction. Just know that a lull in progression is normal, especially during this season, so it’s important to stay the course.
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