AMSTERDAM (BLOOMBERG) - The Great Resignation shows no sign of easing and a dwindling supply of workers may be here to stay, according to Randstad, a global provider of employment services.
Fewer people in the job market, underpinned by a long-term demographic trend, is allowing talented workers to have more options and they are going where their needs are met, said Mr Sander van 't Noordende, who took over as chief executive officer of the Dutch company last Tuesday (March 29).
"That is sort of a change today: Employees are more prepared to attach consequences to their unhappiness or not getting what they want," Mr van 't Noordende said in a phone interview as Randstad revealed its latest Workmonitor report. "They're prepared to quit their job if they're not happy."
The Great Resignation has been a boon to employees searching for better working conditions and higher pay. Economies bouncing back from the pandemic and work-from-home options have made it easier for workers to quit unappealing positions and look for alternatives, driving up wages.
One-third of the participants in Randstad's survey said they have left a job because it did not fit their personal lives. More than half of millennials and Gen-Z respondents said they would quit a job if it prevented them from enjoying life. That compares with just over a third of those polled who identify as baby boomers.
Although 83 per cent and 71 per cent of those polled say flexible hours and workplace were important respectively, most said they feel like they do not have a choice of where to work, and two in five cannot control their hours, according to the report.
"Employers really have to raise their game in terms of personalising the work experience for every individual employee," Mr van 't Noordende said.
With a decline in Covid-19 cases, companies are increasingly calling their employees back to the office, at least for part of the week. Still, apart from some financial services institutions, Mr van 't Noordende said he has not heard of many companies asking all employees to fully return to the office.
Most senior-level executives "understand that they can trust their people" in terms of flexible work arrangements, he said. "The role of the office is becoming more of a collaboration and meeting place than a place where the work gets done."