The Truth About 'The Great Resignation' - How Money Works

-----

You have no doubt seen news headlines and other videos about “The Great Resignation” accompanied by equally alarmists statistics like 40% of people are about to quit their job and April alone saw over 4 million people hand in their resignation.

Now this news could be incredibly frightening or liberating to you depending on whether you are a stressed out business owner or soulless corporate automaton respectively, but before you read too much into it (or worse yet base major career decisions off of it) you should know the full story.

So is this a serious event in the landscape of employer employee relationships? Well those of you who watch the channel regularly will know I hate dragging out an answer… so no, not really, not to vast majority of you watching anyway.

Sorry to be the party pooper, but there are a few big issues that most outlets are omitting in their coverage of this story, either unknowingly or intentionally to make this all sound more spectacular than it really is.

#TheGreatResignation #HowMoneyWorks

[MichalLSK]

I'm also quitting my job this month after 4 years as I haven't gotten even a 1% raise during that time. I sent resume and was offered 35% more, so screw loyalty.

[brpadington]

The reason people quit is because companies don't care to offer raises. Why stick around for a 3% raise when you can go to a new company that will give you 10-20%.

[larrywoodruff]

They ain't quitting, they're simply changing to a better job to improve their lives, good for them!

[apc]

I love everything about this channel, but the best part is: "I hate dragging out an answer". Thanks for that!

[GetHNEY]

Working from home is the only thing that makes my job tolerable. When they call us back to the office, I will seek employment with another company that allows work from home.

[lazystart]

I left one job for another in the last year and actually took a pretty heavy pay cut, but gained a much better quality of life with better time off, a day shift schedule, and a wide open promotion track because of a retirement spree. It's not always about the money.

[JohnS-ildr]

This is why Amazon fosters an environment that forces an employee to quit in 3 years. Bozo figured out that the average employee "becomes lazy" after 3 years and applauds turnover. All metrics

[bruceliu]

there is also a chunk of baby boomers that were close enough to retirement to say "it isn't worth dieing".

[j.adamwegs]

I actually know alot of mechanics and other tradesmen that are leaving major companies to work for themselves as the benefits offered by pretty much all of the corporations are pathetic. Why make $20/hr and get health insurance that makes healthcare more expensive somehow, when you could charge $60/hr to undercut your former employer and maintain your benefits yourself?

[alexanderlyon]

For me, @6:25 a super valuable point in this video was showing the steps of how a little piece of questionable data from a fairly leading question gets eventually oversimplified into an alarmist headline that people treat as hard evidence. That brief sequence in the video is an excellent illustration of the way likely most studies are reported in the media.

[daytonmargramarnsom]

I stayed unemployed for as long as possible during the pandemic. Not only do I live with an elderly person with compromise immunity, but why would I go back to working in a kitchen for $13/hr when I could make more money than I’ve ever made working just by sitting at home and letting the unemployment come in? It’s not because I’m lazy, it’s because I’m not an idiot. I enrolled in school online and have used the unemployment money to save up and better my situation so that I could get an education and I wouldn’t have to go back to those awful jobs.

Now that unemployment is up, I’m working the gig economy full time. I don’t actually like it as much as working around other people, but it pays better than any other job I’ve ever had (besides being unemployed). The retail and restaurant industry can get stuffed. This is what happens when you treat your employees like disposable dirt. They get fed up, and leave as soon as they have the slightest bit of leverage. I will never go back.

[stikfigz]

That whole "can't quit to go work at a competator" thing thr Americans do is insane to me. If I'm quitting a job I don't give a fuck where they think I can go work afterwords

[ReviloYaj]

Quit my job in retail a month before the lockdown since I saw what was coming. Went to a coding boot camp and am now a fully remote software engineer making 3x my old salary working half the hours, and am able to live where ever I want. Couldn't be happier

[nelsondisalvatore]

No but 100% of people say "fuck it. Fire me" at least one time when they wake up at 5am to go to work

[Jor]

Left my job earlier this year. Left for a similar job with similar pay, however the social environment is WAY better. Best move of my life

[aceweldon]

"Not unless your a horrible manager at a horrible company."

I wonder how many people rolled their eyes and thought of their boss like I did.

[FinancialShinanigan]

Answer is usually "No but maybe so let's talk about it."

[eduardo]

I'm always amazed on how many job openings right now during this time, like almost everywhere you could quickly pick up a part time job with little to no effort. Then the boss would expect you to work full time by taking advantage of your availability to the point you get sick of them and quitting.

[MrArthoz]

I resigned too around July 2020...from being an employee to unemployed holiday and now an employer...


The pandemic does not only destroy lives...but in a positive sense it made some of us accelerate our plans and made critical decision sooner.

[Datsugahwallsplitta]

I quit my job with nothing lined up when our CEO wanted everyone back in the office. Accepted an offer three weeks later for 25k more, 100% remote, and more PTO. Obviously, not everyone can take a risk like that, but if you have in-demand skills and experience in your field it's worth testing the market. Sprinkle in a STEM or business degree and you'll be good in this market as long as you can sell yourself.