The Great Resignation: the cultural fabric of the contemporary market:

Authors: Partha Sarathi Pattanayak Director Sustainable Outreach and Universal Leadership (SOUL) Limited and Madhusmita Pattanayak , Associate Sustainable Outreach and Universal Leadership (SOUL) Limited

What time is it again? The hours are flying by, and I still have a huge list of things to complete.?"I love deadlines. I enjoy the whooshing sound they create as they pass." - Douglas Adams

But now the #greatresignation has had a wide range of knowledge-related consequences at the individual, organizational, and national levels.

What is great resignation?

The term "Great Resignation" refers to a phenomenon in the job market in which a large number of people leave their current jobs. A combination of factors, including the COVID-19 pandemic, remote work opportunities, and a shift in worker priorities, has been attributed to the trend. Many employees are rethinking their work-life balance and putting their personal well-being and job satisfaction ahead of traditional measures of success like salary and job security. Others are seeking new opportunities that provide greater flexibility, a better work-life balance, and a sense of purpose or fulfilment. This trend has significant implications for employers, who may find it difficult to retain top talent and attract new employees. It is also likely to change the way businesses structure their workforces and provide benefits and perks to employees.

The job market scenario before COVID:

Prior to the COVID-19 pandemic, many employees worked in a traditional office setting, commuting to a physical workplace and working from 9 to 5 or longer. In-person meetings and collaboration were common, and face-to-face communication and team-building activities were frequently emphasized. Even prior to the pandemic, however, there was a growing trend towards more flexible work arrangements, such as telecommuting, remote work, and flexible hours. This trend was fuelled by technological advancements that enabled people to work from anywhere, as well as changing attitudes towards work-life balance and a desire for greater autonomy and control over one's work.

The aftermath of COVID:

Working during COVID has drastically transformed people's social, cognitive, and behavioral?processes, and the reasons for quitting during the Great Resignation were remarkably different from those during the pre-COVID era. Many people enjoyed working from home without long, stressful journeys so much that they refused to return to the required office presence after the company reopened. During the lockdown, people had the opportunity to rethink their connection with work, clarify life priorities and long-term professional ambitions, and recognize?that employment should be more than just a salary. Some quitters remained loyal to their trade and pursued other job chances in the same industry. Others, on the other hand, chose to stay out of the labor force, resulting in a labor shortage - having a gap in work experience is understandable during and even after the pandemic. Furthermore, 46% are thinking about making a big professional change into a different industry, and some have even opted to follow a vocation or transform their interest into a source of income[1].

The #greatresignation is being driven by a number of factors, including: The COVID-19 pandemic, Burnout and stress, Changing priorities, More job opportunities, Generational shifts, Low job satisfaction, Increased entrepreneurship, etc. Overall, it is a complex and multifaceted trend influenced by a number of social, economic, and cultural factors. It will almost certainly have long-term consequences for the job market and the way we think about work and career success.

Individually, the future may see an expansion of the category of the?knowledge worker and a growing requirement for personal knowledge management methods and information technology as the acceptance of freelancing accelerates. The organizational?effects like knowledge loss, reduced business process efficiency, damaged intra-organizational knowledge flows, lower relational capital, lost informal friendship networks, difficulty attracting the best human capital, undermined knowledge transfer processes, and knowledge leakage to competition are somehow related to the market scenario right now. Countries may also see a decline in the national human capital.

But it is affecting the organization and we look at some of the things that may be broken in our system and discuss how to fix them.

• If it were a job, you would compensate them significantly more for their expertise, talents, and knowledge. However, I believe that too many of my colleagues believe that people are coming to work for them. It is all too easy to fall into that trap; we battle to gain funds and employment, and when we do, we publicize the position and compensate the individual we hire.
• The Great Resignation is primarily caused by ethical, cultural, relational, and personal factors.
• When an employee leaves in the middle of something, the implication of resignation reflects on the organization. The entire process was left in a bind.

As a result, the question here is whether we can expect proper growth in terms of quality in such traumatic situations in companies?

[1] The Work Trend Index, 2021