January 2022
Fully 16% of American adults have used an online gig platform to earn money; among Americans aged 18 to 29 that number rises dramatically to 30%. Despite being the most likely to turn to gig work, this generation of young adults is still searching for job stability – they are the least likely to think of gig workers as independent contractors and nearly half believe that gig workers should be classified as employees. (Pew Research)
The “Great Resignation” is making its mark on social media with “Quit-Toks,” video clips in which employees tell stories of how they quit their jobs or what caused them to finally leave a company. While some “Quit-Tokers” are less than diplomatic when describing their departures, most users say their decision was prompted by the desire to avoid burnout, find happiness, and focus on their mental health. (The Washington Post)
After nearly two years of remote work, employee burnout has emerged as one of the next great corporate IT and security threats. Employees who are burned out are more likely to have poor password creation and management techniques (59% vs 43%), use unapproved software and apps (48% vs 30%), and generally believe that company security policies “aren’t worth the hassle” (20% vs 7%). (1Password)
Companies are budgeting more money to pay raises in the hopes of keeping top talent in-house, with professional compensation at the end of 2021 increasing at the fastest rate in nearly 20 years. For many white-collar workers, requests that would have formerly been bumped down the line or turned down completely have resulted in promotions and more pay. (The Wall Street Journal)
The share of Canadian employees who say they multi-task “often” or “very often” is (unsurprisingly) much higher among remote workers (32% vs 52%). This multi-tasking, while often seen as stressful and inefficient, did not negatively impact many respondents: Most report feeling empowered by the ability to squeeze personal tasks into their work days (e.g., doing laundry) and free up time after-hours. (Toronto Star)
A recent op-ed posits that Millennials and Gen Z are, in fact, the same generation. It’s true: While their ages dictate different levels of professional experience, “Gen Z” (sometimes called “late-wave” Millennials) have not made any significant cultural breaks with their older siblings (“early-wave Millennials”) and their approach to the workplace and their careers is fundamentally the same. (The Ringer)
The United States is currently just one of many nations whose labor markets are being rocked by a significant shift in the traditional employer-employee relationship. Both the west’s “Great Resignation” and China’s “Lie Flat” are largely driven by the Millennial generation: Confident, educated, and high-achieving, but beset by professional burnout on a global scale. (Bloomberg)
Add high housing costs to the list of myriad possible drivers of the “Great Resignation,” with 41% of employed Americans saying they would accept a lower-paying job in order to relocate to a more affordable area. Younger employees are by far the most mobile: Millennials are the only generation who are actually more likely to choose relocation over remaining at their current jobs. (Coldwell Banker Real Estate LLC)