Study finds 'great reset' happening among American workers
Overall, 48% of American workers said that the pandemic has made them rethink the type of job and career they want in the future.
The pandemic has prompted a massive re-assessment of work in America, with approximately half of respondents in a recent survey either rethinking their career or saying they would retrain for a different job if they had the chance.
The survey by Prudential and Morning Consult indicates a “great reset” is going on as the nation recovers from the COVID-19 pandemic. “As vaccination programs continue to roll out and American workers gear up to return to ‘normal,’ it’s clear that they believe that where, when, and how we work will never be the same as it was before the pandemic,” the researchers said in a statement released with the survey results.
Related: COVID-19 causing life and career setbacks for Gen Z
The new report explores the reason for the change in attitudes, as well as expectations that workers said they have about their jobs going forward. Financial security; opportunities and training; and work-life balance are top issues that workers are concerned about, according to the survey.
Overall, 48% of American workers said that the pandemic has made them rethink the type of job and career they want in the future, and 53% of American workers said they would retrain for a career in a different field or industry if they had the opportunity. The survey found that nearly 1 in 4 workers (24%) reported that they are planning to look for a new job once the pandemic is over.
“The road ahead will see the market for talent heat up, and it will become increasingly competitive for employers to attract and retain top talent. Employers looking to be a magnet for top talent in the post-pandemic economy must understand workers’ expectations of work and what they need from their jobs,” said Prudential Vice Chair Rob Falzon.
A shock to the system prompts re-evaluation
The survey found what many other researchers have noted: as they recover from the pandemic, many Americans do not feel financially secure and fear changes to their job situation. Nearly half of those surveyed (49%) said they may not be able to manage an unexpected financial event – and 22% of respondents described themselves as “financially stressed” or “insecure.”
In addition, younger workers said the pace of change in their area of work also has them concerned: 47% of Gen-Z workers, and 52% of Millennials, were concerned about the rapid pace of change, compared to 40% of Gen-Xers and 25% of Boomers.
When asked to list the top issues that led them to re-evaluate their career path, 50% said compensation, followed by work/life balance (38%), limited growth opportunities (34%), being tired of working on the same projects (24%), and not feeling challenged professionally (23%).
The work/life balance question is an issue for many workers who are also caregivers—they seem to feel overwhelmed by their different responsibilities. The report said that nearly half of caregivers (45%) said they have considered leaving the workforce due to personal demands, which is more than double that of non-caregivers (19%). In addition, 41% of caregivers reported having less time during the pandemic to focus on their career and professional development, compared to 20% of non-caregivers. These findings fit with other reports that found women in particular reduced their hours or dropped out of the workforce completely as they responded to school closings and the need to switch to remote-learning for children.
Employees look to employers
The report found that workers are observing their employers and the choices they make as they think about their career moves. The survey found that 43% of workers said the way in which their employer handles the resumption of work over the next 6 months will directly affect whether they remain at the company; and 18% of workers said they are considering leaving their current job over dissatisfaction with the way their company has managed the pandemic.
At the same time, workers see their employers as a possible resource to expanding opportunities: when asked who was most responsible for helping them develop needed skills, aside from themselves, workers most often ranked employers number one (33%) and their managers number two (24%). Respondents also said the top ways employers can support job training was by having flexible schedules (78%), followed by employee-offered training (71%), and on-demand courses (71%).
The workers surveyed also listed the government as a resource for supporting career training and development. The report said that 82% of respondents said they support efforts by policymakers to encourage businesses to offer job and skills training to their employees, and 71% of workers said Congress should pursue policies that provide career training and development.
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