'The Great Resignation': A Look At Where Workers Are Going
MIAMI (CBSMiami) - It's being called "The Great Resignation," but the ongoing question is where are the workers?
Where did they go? Here's a clue on how to navigate the issue.
"It is the vowels we learned in elementary school, A-E-I-O-U. These five letters stand for the five things that explain what's going on," said entrepreneur and author on branding Bruce Turkel.
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For example, "A" stands for assets. Workers who have money and or property income can live off that while shifting priorities or just live off their portfolios.
"They can use their assets to help them change their lives," said Turkel.
"E" stands for expectations. Workers today have far different hopes for the future.
"They do not expect to have a job, keep a job and retire after 20 years. They want to live life now, not wait 20-30 years for a gold watch," said Turkel.
"I" stands for investment. There are many new ways to make money besides traditional work.
"People have seen enormous growth in cryptocurrency. I don't understand it but that doesn't mean lots of people have made lots of money," said Turkel.
The vowel "O" represents opportunity. All kinds of jobs are out there that are non-traditional and flexible.
"People are driving for Uber, Door Dash, selling crafts on Etsy, selling video of themselves and partners on Only Fans, Turkel pointed out.
Finally, "U" stands for URLs - yep, the internet. People are selling services and seeking gig jobs online. Think Angi or Nextdoor. Need a plumber or electrician, go online, there's no need to call a plumbing or electrical company.
"There are so many new ways to generate income that the idea of going to the traditional 9 to 5 job no longer makes sense," said Turkel.
He said today's younger workers are not bound by loyalty and want flexibility.
"Because of lower expectations they are happy to leave," said Turkel
The bottom line answer to the question "Where are the workers?" Many of those so-called "disappeared workers" are working, just not in the jobs they previously held.