The Power of Quitting

Welcome to The Shift, a weekly newsletter where I provide thought-provoking ideas to help you think differently about your career and money.

That Powerful Feeling

95 million people quit their jobs in the past two years¹ .  

Do you know how many people that is? That would be like every single person in Australia quitting their jobs 4 times over two years!

Most say they did it for better pay. Others admit a lack of advancement opportunity was a top reason² .

What if the quitters got more than pay raises and promotions by job hopping?

What if they got a taste of power? Power in the form of career ownership.  

• They decided to quit.

• They decided which opportunities to pursue.

• They even had negotiating power – on things like remote / hybrid work, work-life balance, and pay.

That’s not a feeling too many worker’s knew pre-2022.

The question now is, was that feeling of power a fleeting feeling? Has it been stuffed back into its bottle to be tossed into the ocean and forgotten about?

Back to Normal - Does It Matter?

Now that it’s 2024, we’re told the go-go days of 2022 and the Great Resignation are past us. We are returning to “normal.”

Economists say that means the job market is more balanced, i.e. supply and demand have retreated to a more even level. Which is true in the aggregate. On a sector basis, the balance varies widely.

I’d say whether we are back to normal or not is up for debate… I won’t bore you with the data on this today. (If you think me writing a newsletter on this would be worth reading, let me know).

Regardless, the job switchers and their admirers find themselves at this juncture with a taste of career ownership on their tongues.

In a way this experience might feel like a wake-up call, or a realization, that perhaps over time we’ve slacked on managing our own careers all these years?

I’m not so sure that’s a feeling that you shake. At least not quickly.

Especially because we are reaching this realization, at the same time that new types of jobs are being invented and new ways to work are multiplying.

Maybe together this means thinking a little more actively and creatively about our futures becomes the new normal?

What do you think? Just a thought for you to ponder over the weekend…

Hopefully I didn’t make your head hurt too much. Truthfully, mine kinda aches.

Quick Question…

Many of you know me for my stock market commentary on CNBC or Twitter (@justLBell).

I’ve been toying with and idea… (vote by clicking a choice below)

P.S. While I prep for my TEDx talk on May 4th (yikes!), my pal David Chini is going to guest blog here next week. You’ll love his hot take on buying vs. developing talent - and how you can spot the difference before you take a new job.

P.P.S. I’d be forever grateful if you’d share this with 1 other person who might enjoy it. 🙏

Let’s make The Shift!

Lindsey

Sources:

1. Bureau of Labor Statistics.

2. Statista.