Not Everyone is Buying The Great Resignation

Are things not what they seem? According to a recent MarketWatch article by Emma Ockerman, Minneapolis Federal Reserve President Neel Kashkari “really doesn’t buy the Great Resignation,” a term describing Americans who quit because of the pandemic. More article highlights follow.

Greener Grass

Kashkari explained his views in a talk at the University of Minnesota’s Carlson School of Management. According to the article, “more people are leaving certain careers to seize better opportunities in others, Kashkari said during a talk Friday at the University of Minnesota’s Carlson School of Management. Workers employed in long-haul trucking might be entertaining local driving jobs that keep them closer to their families, for example, while child-care workers could be considering less stressful, higher-paying jobs in retail.” But, Kashkari adds, “There’s a churn away … from the toughest jobs to more attractive jobs…That’s something we’re all going to have to adjust to, because we need long-haul truck drivers; as much as Silicon Valley says they’re all going to be out of a job soon, it’s going to take longer than they think. And we need child-care workers. So we’re going to all have to make adjustments, and that probably means adjustments in wages.” 

SOS (Same Old Story)

Regarding the Great Resignation, Kashkari continues that businesses “always say” there’s a worker shortage, “because they don’t want to have to pay up higher wages.” He’s not alone in this assertion. According to the article, “Indeed, for the nearly 57 million Americans who left their jobs between January 2021 and February 2022, nearly 89 million people were hired, according to government data. Some experts have said that the so-called “Great Resignation” is more of a “Great Renegotiation” or “Great Reshuffle.”

Harder Than it Looks.

Improvements in IT recruiting and retention won’t be enough to meet labor demands in the Great Reshuffle either. The article concludes, “But labor shortages in some of the country’s toughest industries could have widespread ramifications. Consider nursing and residential care facilities, which have lost hundreds of thousands of workers since the onset of the pandemic, according to government data. Last year, during a four-week period ending in mid-October, nearly a third of American nursing homes were reporting a shortage of nurses or aides, according to an AARP analysis, which can lead to worse outcomes for residents. Many nursing homes have also limited new admissions, according to Kaiser Health News.”

Whether from the Great Resignation or the Great Reshuffle, recruiting has become a challenge across industries. When you need cutting-edge solutions to your hiring and retention challenges, you need Business Centric Technology.

If you are interested in learning more about getting the best IT talent in the Dallas metroplex, BCT specializes in recruiting IT talent in Dallas, Ft. Worth, and North Texas. So if you are looking for a rewarding career, contact us today.