Manage HR Magazine | Monday, January 31, 2022
The term The Great Resignation has seized the moment and is likely to be the new trend for the coming years in the executive job search industry.
Stay ahead of the industry with exclusive feature stories on the top companies, expert insights and the latest news delivered straight to your inbox. Subscribe today.
FREMONT, CA: The Great Resignation is no longer a new concept and employees are now embracing the opportunity to join the movement, quitting their positions in favour of new roles or careers that are better suited to their needs, values, and preferred lifestyle. While lower-level and middle-management personnel have been quitting their employment in higher numbers due to the tight labour market, this was not always the case for CEOs prior to 2021. However, according to a recent Heidrick & Struggles report, there were signs of a surge in CEO turnover in the first half of 2021.
Whether CEOs leave or stay, the epidemic has created a time for senior-level professionals to assess their long-term career goals and aspirations. At the executive level, the Great Resignation is less of a story than the Great Reevaluation. Executives are evaluating their work-life and considering their possibilities for the next big thing in their careers. They want to be excited about work once more. Many CEOs appear to be willing to change companies and regions, as well as pursue various career paths if it means finding work that they enjoy. They are also trying to reinvent what their professional lives could be.
Unexpected incidents or shocks push us off normal routines, push us out of comfort zones, and cause everyone to ponder major questions about what matters in life and what is worthwhile. It's no surprise that the pandemic has caused many people to reconsider their employment. Many people are rethinking what work means to them, whether or not they are respected, and how they might improve their work-life quality. They are looking for more independence, flexibility, significance and happiness, among other things.
The talent pool is likely to remain exceptional and competitive. Demand is strong and will continue to be strong, according to polls by a wide spectrum of executive recruiters. The process of hiring executives has settled into a new regularity. Employers may now communicate with potential workers more easily thanks to video interviews, and the hybrid scenario will become the new normal.
More in News