We have entered an era where millennials are doing things that make us scratch our heads and wonder what exactly they are trying to accomplish. It started with them abruptly resigning from their jobs, a phenomenon dubbed The Great Resignation. Then, in what is known as quiet quitting or taking it easy at work, they refused to perform beyond their minimum expectations. 

A growing number of Millennials are transitioning to gig labor as a way to escape the "ennui" of the 9 to 5 nonsense, which they deem monotonous. According to the most recent labor statistics, Millennials and Gen Z are increasingly working for numerous companies at once, contradicting the stereotype of loyal and dedicated workers. 

So what exactly is happening, and is there an underlying connection between great resignation, quiet quitting, and moonlighting? 

The Great Resignation

Early in 2021, when people first started quitting their jobs in droves, most experts thought that the "Great Resignation" was a direct result of the pandemic's uncertainty and chaos.

The situation right now is strange. Despite a lifting of Covid restrictions and a subsiding pandemic in many countries, resignation letters are still flooding in. Even though there are widespread predictions of a slowdown, workers are actually quitting their jobs in large numbers. Many who have not left yet plan to do so soon as well.

Nevertheless, even a severe financial catastrophe, which many believe is imminent, may not be enough to prevent the Great Resignation and retain current employees. In the unlikely event that we experience a recession, we will need to wait and see how things unfold. Companies must adjust to accommodate employees and understand their needs through corporate wellness programs as long as employees know what they seek. 

Quiet Quitting

The majority of people are back to work, though they are doubtless unhappy to be there. As they have become accustomed to remote work, they are reluctant to quit, so they are happy to embrace the concept of quiet quitting. 

Rather than working late, participating in team-building activities, or volunteering for new initiatives, quiet quitting individuals move away from work and avoid the above and beyond. They are stepping away from the hustle and bustle culture.

Psychologists refer to the behavior as 'occupational citizenship behavior.' Quiet quitters keep up with just enough work at work, then leave on time and avoid slack. According to experts, the increase in quiet quitting has correlated with higher job dissatisfaction levels. 

Moreover, a sudden shift has occurred in the way we question the job and, most importantly, being at work. As a result, there is also a rapid change in expectations and job satisfaction. Corporate wellness programs can help companies better understand their employees' needs and why they are not satisfied at work by performing some activities with them. 

Moonlighting

According to another survey, almost 65% of IT workers say they or someone they know moonlights or looks for part-time work while working from home.

Considering how young the workforce is and how big and developing the industry is, it should be no surprise that this is the case. IT companies with large staff have a difficult time creating a sense of loyalty and ownership. 

Young tech workers fully embrace the hustle culture, which often costs more to advance financially than one job does. So while salaries in Bangalore, India's IT hub, are relatively high, living expenses are also high. 

Along with increasing their income, many workers aim to advance their skills or pursue their passions. Furthermore, working from home has made it easier to combine a secondary job with a primary job while reaping both benefits.

The bottom line

Employers should not overlook the importance of moderation in behavior, even when great resignation, quiet quitting, and moonlighting have helped employers to understand the paradigm shift in worker demands. Employees who follow these trends will only betray their jobs if they break corporate policy. However, the corporation will not, under any circumstances, tolerate a decline in productivity.

Therefore, both the workers and the employers must increase their communication channels in a situation like this, where a change in all areas is required, so there is a clear understanding. Additionally, employers should pay their employees fairly, appreciate their efforts, and recognize their abilities in order to retain workers.

^Employers who have grown accustomed to flexible employment arrangements may soon face an unpleasant surprise.

On LinkedIn's behalf, a study by YouGov surveyed nearly 3,000 executives from organizations with at least 1,000 employees and at least £250 million in revenue ($288.5 million).

According to these statistics, remote job postings are declining. In India, for example, the number of remote job postings decreased by five percentage points since April, when they peaked at 20% of all job postings.

While this is still a good deal higher than pre-pandemic averages of 2%, it is still a stark contrast to what workers would like to see.

"Flexibility is an essential component of a successful work environment, enabling employees to find a balance between their professional and personal lives." - Stuart W. Crabb

Workplace flexibility is ranked as one of the most important objectives for workers after remuneration, alongside work-life balance, skills development, and compensation.

Even though the number of jobs requiring remote work has decreased in the United States, these advertisements still garner more than half of all applicants as of September.

Data shows that remote employment accounts for 14.6% of employment possibilities globally but receives 20.2% of application submissions. The number of remote jobs in India is 11.3%, while the number of resumes is 20.3%.

Remote Job Posts vs. Applications, September 2022

Why are businesses cutting back?

LinkedIn polled its users about remote employment options and found that the trend towards remote employment was correlated with the current economic environment.

As part of a survey of executives, they were asked if the Coronavirus outbreak would force their companies to adopt more flexible working practices. In response to this question, more than 68% of executives said yes.

The current economic uncertainty has resulted in corporations in all parts of the world freezing their recruitment efforts. As a result, business leaders are under tremendous pressure to reduce costs and increase efficiency to pursue these goals.

‍Trends in workforce confidence

In the absence of an epidemic leading to a move toward flexible working and corporate wellness programs to help workers, the balance of power is now in the hands of employers.

This report also found that the current economic uncertainty adversely affects other employee benefits. In other words, 70% of CEOs agreed that skill development might need to be emphasized less in the future, and 75% said that employee well-being would likely receive less attention.

The survival of businesses depends on their ability to adapt to changing conditions. Some companies might think they can save money by reducing benefits like flexible scheduling, but they could suffer long-term consequences.

In companies that lag behind in adopting flexible and remote working, employees risk becoming demotivated and leaving for rivals who offer more attractive options. In order to survive, businesses will have to be more adaptable.

Businesses are beginning to offer a broader range of perks as a way to keep and attract workers—many still recovering from the Great Resignation. There have even been some employers who have adopted a four-day workweek.

We at TheWellnessTribe believe that businesses must be able to adapt and be flexible in order to succeed in the future.

In the long run, the winners will be those who recognize this as an opportunity, adapt and iterate, and explore new working methods.