The great resignation: A symptom of changing attitudes to work

THE transformation to digital is radically altering how businesses run and how jobs tasks will be done. New skills will be needed, and new roles have emerged. Research by AlphaBeta showed that in the six Asia Pacific (Apac) economies surveyed, the total number of workers applying digital skills at work will grow from 149 million workers today to 819 million workers in 2025.

Within that, countries like Singapore will need 1.2 million more digital workers by 2025 to maintain their competitive edge. The need to close the digital skills gap cuts across the region, with each country facing unique challenges and requiring a different policy approach to address the specific painpoints.

The most pressing challenge for any leader in APAC today is digital transformation and empowering employees in a hybrid workplace. And for most, the ‘Great Resignation’ is rearing its head.

Many are viewing today’s talent crunch as a secondary crisis to come out of the pandemic. How can we take this crisis and turn it into an opportunity? First, we must dive deep and understand our workforce.

The changing expectations of today’s workforce

First, it’s important for leaders to understand and embrace that today, the definition of a ‘good job’ is changing. What was a good job for my generation, usually one that offered steady compensation and stability and long-term prospects, is no longer considered a good job by those entering the workforce today.

Today employees want financial compensation, but that’s not nearly enough. Instead, they are looking for a sense of purpose and alignment with their organisation’s values. Technological change, the continued impact of COVID-19, changing demographics in the workforce and social needs are all driving this shift.

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A 2022 whitepaper by the World Economic Forum in partnership with Mercer defined good work as: “A healthy, equitable, resilient and human-centric work, respecting fundamental rights, across in-person, hybrid and virtual work, for all workers”. In the whitepaper, only one of the five objectives towards building an equitable and sustainable future of work was linked to financial compensation.

Delivering a great employee experience and capturing opportunities from these shifts in employee expectations requires a holistic and expansive review of people management strategy.

With this context, we can realise that what industry gurus have termed as the ‘Great Reshuffle’ or the ‘Great Resignation’ is, in fact, just a symptom.

This rapid reorganisation of talent is a symptom of an underlying shift in attitudes towards work across generations. Individuals are rethinking the role of work in their lives and conclude that their job doesn’t define who they are, nor should it.

Managing the symptoms by resetting organisational culture

There is never a silver bullet to tackle a crisis or a problem, but it is important to be hopeful and remember there are hidden opportunities in every crisis. This includes the ‘Great Resignation’ and the challenges can be managed.

As attitudes change and the future of work evolves, businesses need to be agile in rethinking their approach to talent or risk losing their competitive edge.

After decades of work by Red Hat in building thriving open teams and my own experience in Asia, here are some key takeaways that can help business leaders in Asia navigate the future of work.

First, the kampong spirit is everything. The old adage ‘If you want to go fast go alone, if you want to go far go together’ rings even more true today in this new world of work. The Kampong spirit is all about a sense of community and solidarity, which enables people to come together to help each other and create a better life. In a business context, adopting a Kampong approach can help ensure that the needs of all employees and customers are being met.

Second, every cloud has a silver lining. In today’s reshuffle, employers have the golden opportunity to reset their organisational blueprint and re-energise their organisational culture for the new normal. To do this, businesses need to approach this next stage in their talent management journey with intention and a focus on relationships and community.

Finally, agility is essential. The coming decade will be challenging, and we are living in a volatile and uncertain world. Against this backdrop, agility will be key and building resilience within teams will be its own challenge. Managers and business leaders need to build and nurture these skills. This could be through additional training programs, job rotations, stretch projects and more.

The writer is senior vice president and general manager of Asia Pacific, Japan, and Greater China (APJC), Red Hat