Is The “Great Resignation” Ushering In a New Era of Business?

There’s no doubt about it: the COVID-19 pandemic has changed the world in a multitude of ways. We probably haven’t even seen the extent of those changes just yet. And while we may be a bit fatigued by pandemic trends, it’s so important to be aware of how the world is changing and shifting in various aspects. 

Take for instance the things that are currently trending when it comes to our jobs and careers. Digital.com sent out a survey recently and discovered some highly interesting findings on job trends right now.

Resignations Galore

Have you heard anyone using the phrase “The Great Resignation” lately? If so, it’s for pretty good reason, considering the staggering number of people who have quit their jobs. Some estimates indicate that roughly 4 million people quit or resigned from their job in July 2021. 

Why are People Quitting?

So why are people quitting their jobs in droves? According to Digital.com’s survey, there are a number of reasons. Perhaps not surprisingly, seeking better pay was the top reason people submitted for leaving their current position. 

Coming in at a close second was that survey respondents wanted to focus on their health. This in and of itself is interesting. Could the focus on health be a newfound awareness due to the pandemic? Or perhaps more focus on overall wellbeing could be a factor here. 

Survey respondents also noted that they wanted to find work that was a better fit for their passions. Some, too, wanted to find a job that allowed them to work remotely or that included more training and education. And, of course, another reason given for quitting was coworkers or supervisors.

Starting a Business

The survey also found that just under a third of the respondents indicated they left their job because they want to start their own business. 

Further findings showed that among those wanting to become entrepreneurs, some of their reasons for this paralleled the overall motivations for people to quit their jobs. Those diving into opening a business said that a focus on their health was a factor along with higher income, working remotely, and working on something that better fit their own passions.

Pandemic Down Time

Another portion of the survey dealt with the why behind starting up a business and quitting a job. The pandemic brought some extra downtime for these brand-new entrepreneurs, apparently. Sixty percent of them noted that they used this time during lockdowns to learn more about being in business. 

These respondents also discovered that having a job doesn’t mean it’s secure. Nearly 60 percent of those surveyed said the COVID-19 pandemic highlighted the vulnerability of their position. 

And all that stimulus money seems to have factored into the decision of so many people to become entrepreneurs. About 43 percent indicated that stimulus money played a role in deciding to open a business.

Tools for Business Owners

As anyone who has ever tried to start a business knows, it is quite the rollercoaster ride. It has its ups and downs and everything in between. And, it’s important for entrepreneurs to have the resources and tools in place to help themselves succeed. 

Blockchain technology is among those tools that can help business owners of all kinds. It shows promise in a variety of areas, including helping entrepreneurs with their accounting. 

Staying safe online is a critical priority for nearly everyone these days, especially business owners who do anything online or using technology. It seems we hear about companies leaking data or being hacked quite often, and blockchain is something that can provide a safer way to keep track of data online. 

Employee to Employer

No matter the reasons, it’s thrilling to see so many former employees taking the leap into owning a business and even becoming an employer. As the saying goes, why not make lemonade out of lemons? 

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