2021 was a strange year for us all. Covid-19 changed the way we worked, thought and went about our daily lives. This newfound thought process that individuals have meant that they are more aware of their own value thus came about the ‘Great Resignation’. The Great Resignation is an ongoing economic trend in which employees have voluntarily resigned from their jobs. Employees are finally challenging some wrongs that they were too scared to come forward with prior to the pandemic. Businesses have to combat this by showing their appreciation for their employees, and what better way to appreciate them than by paying them a fair and generous wage? This beckons the question, should you be receiving a pay rise? Read on to find out.
Main causes of The Great Resignation
There are many reasons why employees are finally standing up for what is rightfully theirs. As previously mentioned, the pandemic played a huge part in it. With people not allowed to make decisions for themselves, ie lockdown protocols, everyone seemed to have enough and wanted to take back control of things that they could take control of. It comes as no surprise that their employment was one of the first things they looked at, with 63% of individuals feeling underappreciated in the workplace daily. This is a sad and overwhelming statement as no employee should work their hardest and still not feel good enough. Similarly, 1 in 6 employees has medical related issues such as depression or anxiety in the workplace. Both of these stats are extremely depressing and give an insight into why the revelation actually came about.
Industries most affected
Construction is one of the most skilled jobs out there and due to the pandemic, it has meant that aspiring bricklayers/construction workers have not been able to study their trade and go on to have a career in it. This has been devastating for the industry, resulting in a highly competitive market and higher salaries. Last year it was confirmed that the industry has seen pay rises of 7%.
Retail, Hospitality and Customer Service are other sectors that have seen some incredible hikes in terms of pay rises. Since the beginning of 2019, when COVID first came about, the average price of a retail worker has increased by 21%. Employees are now earning on average upwards of 25k. Similarly, the hospitality industry has seen average wages hike up by 14%. This is most likely down to the sole fact that the sector was closed for a large part of the pandemic, meaning that people either got dismissed from their jobs or left them, creating a need for people to take on this role. Finally, a customer service job actually seen the highest percentage increase out of the three, with a pay rise of 26% expected since the start of 2019.
Another industry that has seen a huge pay rise is charity and social care. Salaries for employees working in this field rose by 18%. Senior care staff gained a massive 70% increase in their wage due to the high demand for carers during the pandemic. Care homes were one of the most vulnerable areas during COVID, with owners looking to hire competent and skilled staff to help residents as much as possible. This was a well-deserved pay rise and is something that should have probably occurred years ago.
Recruiters reaping the benefits
Recruiters are ecstatic to hear about this movement as there are so many candidates to hire for one of the many roles where the company will value them indefinitely. The wider talent pools have been nothing short of amazing to see for recruiters all over the world, with the diverse nature of it all, which means that recruiters are able to slot the perfect candidate into their ideal role. Furthermore, pay rises occurring in various industries, make it incredibly easy for recruiters to sell jobs to potential candidates. If you are part of the ‘Great Resignation’ and are unsure about what to do for your next steps, then why not contact us today and find out what we can do for you.