More than 20 million people quit their jobs in the 2nd half of 2021 and they aren’t going back to work.
Some call it the Great Resignation, others call it the Big Quit.
Interestingly, more women than men are leaving the workforce.
The women who haven’t returned to work despite so many open jobs are largely women with young children who have opted to either stay home with their kids or pursue a business venture of their own, according to research by LinkedIn reported on 60 Minutes on a segment on January 9.
LinkedIn also reports that 1 in 7 jobs are now fully remote and candidates are more likely to apply for those roles, signaling a dramatic shift in work roles.
The 60 Minutes/LinkedIn segment also reported that the retail, hospitality and health sectors have been greatly impacted by the Big Quit, and are having a hard time filling open roles leading to business closures and the inability to keep up with demand.
Others, like me, embraced their entrepreneurial spirit and started their own businesses instead of taking another job.
Another emerging trend is that some Baby Boomers retired early.
And some are just burned out and need a break from corporate America.
One thing that is clear and long lasting – employees now want autonomy and flexibility today over their work schedules (as well as great pay and benefits) then ever before and they have the ability to choose where they want to work.
This is a candidates’ market and law firms need to continue to pivot and adapt to this new world in order to recruit and retain talent in this new changing workplace.
Join Leopard Solutions and me for a free webinar on Thursday where we will explore some of these trends. I’ll be moderating!
Our panelists are Laura Leopard (CEO and Founder of Leopard Solutions), Michael Short (Principal at Lawvision) and Bruce MacEwen (President of Adam Smith, Esq.) who will discuss:
- Trends in lateral hiring among the top 200 law firms in 2021
- Law firm growth and declines over the past year
- Predictions for what 2022 may bring for the legal market and in talent management
- The short- and long-term effects of the Great Resignation on the legal industry