The Great Resignation: Thoughts to Consider before Making the Move

As I prepare for an upcoming keynote centered on the state of talent access in our current marketplace, I find myself uncovering the controversial concept of the “Great Resignation”.?For those new to hearing this term, The Great Resignation period started in 2021 and is expected to continue for months ahead as we navigate towards some sense of new workplace normalcy.?

Simply put, this “Great Resignation” follows after abrupt business response to the pandemic in March 2020, and a year plus of navigating business expectations, remote work, and the overlying global health crisis.?This expectation of a high-volume resignations is the result of individuals having experienced a challenging time period that has most re-evaluating what is most important in their lives.?

Contrary to other economic downturns, the Covid crisis caused the fastest recession and most ferocious recovery in history. Leaders in companies during this time had to make swift, sweeping decisions, many involving layoffs, furloughs, and pay cuts.?Response to the pandemic by leadership, and the upheaval of the “typical” work demands, while revenue numbers in many businesses continued to grow, has given much reason to pause.?

The reality is investment and growth in many markets, including healthcare and medical devices, has continued to be strong.?Companies are hiring, recruiters are reaching out, and the job market is red hot. Does this make it a perfect time to consider your next move? Possibly. As you consider a move, I offer some customary advice.

Reinvention of the workplace begins with you. If you have enjoyed a strong relationship with your leadership team, sticking around during an exodus may prime you for opportunities as the "new normal" evolves. We have all experienced an unprecedented time, and if your leadership appeared to keep your needs, and the team members around you, as a top priority, that should be strongly considered. Having the history and trust could allow you to surface with more opportunity and growth potential. Alternatively, if this time showed you characteristics of your company that have left you less engaged or committed to the goal at large, it may be a strong sign that you should explore where you can add value to the mission as a whole.

Big investment equals big expectations. In healthcare, we are witness to unparalleled investment outside the historical practices. With tech companies entering the healthcare marketplace, as well as creative investment strategies through non-traditional means, markets are blending while sparking innovation. However, where aggressive investment comes in, anticipate accelerated expectations on return on investment. Leadership enjoying investment from new sources will need to navigate the new demands. As deliverables slip, so will investor patience. Proceed with a clear understanding of what capital is budgeted for and what promises have been made. Most importantly for your individual career, ensure you will have the resources around you necessary to make the valuable contributions you expect to make in several years time.

What Will You Become? In the past, the primary reasons most began a job search were they were running from a bad job or running towards a better one. Although these are clearly pieces of the puzzle, today's market allows us to think more strategically on our career goals. What will this new experience offer that is expected to increase my marketability and skillset over the next several years? If the answers offer clear opportunity for your growth to a new level of marketability, that is a strong directional pull. If your current position does not facilitate your growth in new marketable areas, you owe it to yourself to find an environment that will.

It is important to evaluate why you are considering leaving an organization long before you actually resign. If we evaluate an organization based on leadership, market served, corporate mission, in addition to their product and service, we can conduct diligence that will allow us to make an educated decision. There are matters about an organization that will not change overnight, like engagement from leadership, trust and commitment. If there is misalignment between you and your current company, it may be an opportune time to make a move. Sometimes though, your best action is taking no action, and letting the pieces around you sort out and uncover opportunities. Consider your options and take action wisely.