The Great Jobs Switch Of 2021

Wherever you look, the business landscape is changing. This has not gone unnoticed by the workforce, with far more employees planning to jump ship once the dust has settled over the pandemic.

- Jennifer Lee

In the United States, the Bureau of Labor Statistics reported that four million people quit their jobs in April 2021 – the highest number on record. And if recent surveys are anything to go by, this phenomenon is not limited to just the US.

Microsoft’s Work Trend Index, which surveyed over 30,000 people across 31 countries, found that over 40 percent of the global workforce is considering leaving their employer this year. Remote job postings have increased by five times on LinkedIn, while recruiter job postings on LinkedIn have increased almost 7 times in June 2021 compared to June 2020.

FLEXIBILITY FIRST

As the pandemic wanes, companies are looking to hire quickly, leading to a scramble for talent. At the same time, employees are now looking for companies that can offer them flexibility in terms of the workplace.

According to the EY 2021 Work Reimagined Employee Survey, only 15 percent of employees from Southeast Asia prefer to work from office full-time. The majority would prefer to work anywhere (32 percent), work remotely full time (29 percent), or in a hybrid work arrangement i.e., mix of in-office and remote working (23 percent).

The survey found that in the absence of flexible working, more than half (60 percent) of SEA respondents will consider leaving their job. Tan Lay Keng, EY Asean People Advisory Services Leader said, “The COVID-19 pandemic has caused a major shift in where we work when we work, and how we work. Employers that promote hybrid work arrangements and provide the flexibility for employees to work anywhere and anytime are ahead of the curve. These employers are likely to have better employee attraction, retention, and satisfaction in the long run, which could positively impact the business.