Companies around the world are experiencing a phenomenon dubbed “the great resignation.” It’s a trend that kicked off during the pandemic — a time when record numbers of employees (executives included) started reevaluating their situations, priorities, and lives, and ultimately, began leaving their jobs.
What’s behind the mass exodus? The factors are diverse and many, including burnout from facing the brunt of the pandemic; untold stress; shut-downs in certain sectors (e.g., retail, hospitality, food service, cruise ships, and airlines); rise of remote work environments; and ongoing health and safety concerns due to return-to-work mandates.
During this unprecedented time in history, experienced executives have two obvious options— leaving their current roles and staying put. Here are the benefits of each, plus a third consideration that may be the best option yet.
Benefits of Leaving: Capitalize on the Moment of the Great Resignation
As employers struggle to find people with the skills needed to get the job done, the job market is hotter than ever—and great talent is in high demand. If you’re a skilled employee or experienced leader, you’ve got incredible leverage and control. You may choose to “strike while the iron is hot” and seek out new opportunities while they’re available. You might be ready for an exciting new job, or thrilling career change. And it may be a great chance to lock in more flexibility, more opportunities to grow, better work-life balance, higher salaries, and better benefits. But you need to consider the potential downsides.
Benefits of Staying: Loyalty, Seniority, and Quick Advancement
Quitting may seem attractive right now, but there are also certain risks. The dream job could turn out to be a nightmare, your savings may dwindle, or you could find yourself wishing you never left.
On the flip side, you shouldn’t ignore the benefits of staying put. Staying with your current employer can be your quickest way to move up the ladder. You’ll gain seniority as others leave, and your loyalty could be rewarded through exciting projects and leadership opportunities.
Wondering “what could be” is fun to dream about; but what if “where you are” already offers all of that and more, if you simply re-commit and apply yourself? Instead of searching job boards, what if you invested that extra time on your next big idea or thought leadership in your current job?
Introducing a Third Great Resignation Option: An Interim Executive Career
There are many opportunities to leave and try something new, but also strong reasons to stay committed where you are.
When you consider your long-term goals, it might be time to explore another career path altogether: becoming an interim executive. In addition to being your own boss, it offers more:
If you’re an experienced leader who’s exploring career options, it’s a great time to consider an interim role.
Registration takes 15 minutes and gives you access to monthly executive forums and a fast pass to the front of the line when one of our clients needs the type of expertise you provide. Interim, Fractional, or Direct Placement opportunities are only a click away.