Employees seem singularly unhappy about their jobs, but they are sticking around for now.
I don’t think anyone knows what came first. The Great Resignation of 2021 or the mainland’s so-called «lying flat» movement.
But the truth is both started during or shortly after the pandemic, and they express roughly the same thing – deep-seated frustration about jobs and the lack of any satisfying work, opportunity, or reasonable compensation.
Closer Resemblance
But in the West, there is a new variation out there, the Great Detachment, and it bears a closer resemblance to the mainland version of passively opting out of anything to do with consumption and employment.
A survey published by international analytics and advisory firm Gallup on Wednesday has some alarming findings related to this new permutation, and bank executives should pay close heed, even if the trend still seems largely confined to US shores.
Record Low
Slightly more than half of all employees in the world’s largest economy are looking for new jobs, while their overall job satisfaction, at 18 percent, is at a record low.
Despite that, they aren’t quitting, which Gallup says is going to be a unique management challenge for business leaders, particularly those who are trying to implement transformational changes, something banks have been doing practically ad nauseam since the financial crisis.
Historically Elevated
«Negative employee emotions peaked at the start of the COVID-19 pandemic. But they have not returned to normal. Employee stress, worry, anger and sadness are all at historically elevated levels,» Gallup indicated.
The solution? According to them, it rests on business leaders leveling up the employee experience. That goes for the senior bankers out there just as much as it does executives in other sectors.
