The Great Resignation continues, “quiet quitting” disrupts
The Great Resignation continued unabated this summer. It was spurred on by a shift in the labor market where too many older workers were fired or retired, and too few younger workers entered employment. The demographic fundamentals of our workforce have altered, and we will not see a return to pre-pandemic realities anytime soon.
These changes in demographics and labor have ushered in a new power dynamic at work. Employers are waking up with a hangover from a decades-long binge of cheap and readily available labor at home and abroad that evaporated over the course of the pandemic, and employees are asking for more. Hiring managers and HR professionals seem unsure of what they can do to dull the pain, and they appear to be unwilling to give on flexibility, which is something every worker wants.
The United States is now at record unemployment levels (3.9 percent) and employers are calling out their youngest employees for “quiet quitting,” a pejorative term for workers setting boundaries. This is unhelpful and counterproductive. We’re also seeing the reemergence of collective bargaining and the reemergence of unions. I shared my views on these subjects this Labor Day on NBC Washington.
One solution is hiring, or unretiring, older workers. At The Super Age, we believe that experienced workers are an essential component to any diversity, equity, and inclusion strategy, despite the fact that they are often overlooked or excluded. We also know that age-diverse organizations perform better, are more resilient, and have greater levels of innovation and profitability.
We’re fortunate to have history on our side, and can look to the post-war 1950s for inspiration. It was during this period that nearly one out of two men over 65 was in the formal labor force. It was also during this era that workers saw their fortunes grow.
Employers take note, because the demographic realities of The Super Age cannot be willed to change. If anything, things become more challenging as birthrates continue to drop year on year. At the very least, compensation and benefits will need to improve, but managers will also need to learn how to be decent human beings that respect lives of their employees outside of the workplace, whether that be in-person or virtual.
