The Great Resignation
From the cargo ships parked off our coasts to the restaurants who are limiting the days they are open, we’re all feeling the impact of “The Great Resignation.” Texas A&M Professor Anthony Klotz was the first one to coin the phrase, referring to the voluntary mass exodus from the workforce.
According to the U.S. Department of Labor, during the months of April, May and June 2021, a total of 11.5 million quit their job. A survey of 30,000 workers conducted by Microsoft found 41 percent were considering quitting, and that number jumps to 54% when looking at Gen Z alone. A recent Gallup poll found that 48% of employees are actively seeking new opportunities.
Why? According to LinkedIn, 74% of those surveyed indicated that time spend at home—either during the shut-downs or while working remotely—caused them to rethink their current work situation. As companies downsized, remaining employees picked up the slack and months of stress and burnout are encouraging them to seek brighter opportunities. Others are fed up with their employers’ pay decreases, holds on promotions and frozen merit increases. While some couples put family first and decided they could survive on a one-income household, others used their time off to formulate their entrepreneurial dreams. Finally, a number of workers put their health first, choosing to stay home while the pandemic rages on.
As the first of our SALON TODAY 200 applications pour in, there’s a running theme in owners’ essays. The power has shifted from the client to the team member. Owners who previously focused their thoughts on creating the best guest experience are now finding that creating the best work environment is their number one priority.
You’ll see this theme throughout this Winter 2021 edition, which is rich with ideas and strategies for navigating a new environment focused on your team members. From the new policies that Gene Juarez Salons and Spas is putting in place to create a more equitable and rewarding workplace (see p. 20) to the owners who are rehiring former employees to strengthen their culture (see page 22), and to the number of tactics of recruiting, retaining and training employees and preventing burnout in Seasons of Strategy (see page 32).
Sometimes that churn of change opens you up to new opportunities. While our own team at SALON TODAY, MODERN SALON and NAILS lost a valuable member over the summer, we recently hired Nicole Davis, a savvy, energetic editor with years of experience in business-to-business media in the lighting and décor category. Within her first few weeks, Nicole was introduced to the industry at our Data-Driven Salon Summit, she offered up many exciting ideas in our team strategic planning session, she managed the photo shoot with Mary and Scott Randolph for this very cover, and she penned a number of idea-rich articles for its pages. We’re excited to see how she’ll help us grow over the next year and beyond.
Wishing you a healthy, busy and profitable 2022!