The Great Resignation: A Discussion with Colgate Alumni and Faculty - Shared screen with speaker view
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RICHARD VAN DEVENTER
from my perspective, the big drivers for resignations are more opportunity to work from home and also professional labor shortages are driving meaningfully higher comp.
First, per St; Louis Fed,here was an excess of over 2.4 million people retiring from expected and the long term trend line. So part of it is lots of boomers leaving the workforce "early" for various reasons. Second, I agree that its more of a great reshuffling to better jobs - higher wages, more certainty in scheduling, etc.
With this labor shortage are more companies willing to consider 65 years old employees who are not ready to retire for another 5 or 7 years?
Our expertise is around building safe / trusted communities at organizations through shared interests and it’s an interesting new way to onboard employees too. If you can introduce a new employee right away into several interests groups and an onboarding groups it goes a long way.
Another Colorado resident here - what we have seen is we could previously recruit based on the quality of life in Colorado. Now, we are competing against companies all over the country - with remote, everyone can offer that quality of life.
I'm a consultant for nonprofits, many of those folks HAVE to be in the office to help their clients, so the rate of burn out is increasing.
RICHARD VAN DEVENTER
Professional I.T. folks are demanding hybrid work environments. We have to be flexible in order to keep and retain qualified people.
I left my job as an adjunct because teaching on line felt super disconnected for me.
More flexibility leads to more creative, innovative and meaningful work. Totally agree with Kanitha.
Interested to hear how Colgate is preparing students to be professionals that may never go into an office - how to network remotely, etc.
What I've seen is that women, people of color & folks of low-income status have been worst hit -- they either HAD to work, or lost their jobs (and couldn't afford to), and at the same time were the most vulnerable, due to social determinants of health.
I've found that junior/new to the workforce employees are struggling in the absence of in-person work. They're less familiar with office dynamics, when to ask questions, how to work with superiors, etc. It's harder to learn without environmental cues.
@Elspeth - excellent point! 70% of communication is non-verbal. Hard to pick up on cues when you can only see people from the chest up!
New hires are losing the ability to “shadow” their fellow employees and managers when new to an organization
@Brett - yeah, I hadn't thought of that. Good point.
John makes a really great point. I manage a global team who will never be in the office at the same time and these changes have been tremendously impactful to staying connected virtually.
Thank you! This was great.