The pandemic is now nearly just the remnant of a bad memory, and with its fading into the history books has come changes to the worldwide workforce. In 2021 nearly 47 million Americans chose to leave their jobs. Popularized as the, #GreatResignation, multiple factors helped to spur the shift in how people and employers think about the work landscape.
Thinking about quitting your job? Maybe you just want to shift careers. You’re not alone, in 2021 the World Economic Forum stated that around 40% of workers across the globe are considering quitting their jobs. Elaborating on an article called the Microsoft report— a survey of 30,000 workers in 31 countries— looked at productivity and activity levels in the workforce.
The finding pointed out that there are significant trends which have already begun to reformulate how human beings understand and engage with their work. Among those findings were points like that remote flexibility is no longer a trend, but here to stay. The historic push for high productivity in the office was only covering up how tired people are, and that in a hybridized world, work talent can be found just about everywhere.
Being that we all went through the riptides of the pandemic, it is likely that at some point you may have begun to reconsider how you relate to your current situation. The commonality of these existential musings gave raise to this #GreatResignation. The Harvard Business Review summarized this cultural movement into the basic categories of motivation: Reshuffling, relocation, and retirement.
Relocation
Despite what many may have assumed, the desire to move, to actually physically relocate one’s life, played a significant factor in the reformulation of the workforce. Much of this is likely due to the emergence of remote and hybrid roles in response to pandemic restrictions, where nearly 9.3% of Americans (around 20 million people) have chosen to do just that. With the options and expectations for more flexibility, this has freed people and families up to move themselves around the country all while maintaining the jobs that they have.
With the presence and possibility of remote or hybrid work now an option here to stay, there is a very good chance that these trends will continue as a new standard for the workforce. With this, the flexibility to change jobs internally or externally will likely create a more fluid economy, and the constant opportunity of pivots to be taken in one’s career.
Retirement
The first year and a half of the pandemic inspired about 2.4 million Americans, beyond the usual annual rates, to retire. What is unusual is that those same people re-entered the workforce but often in very different positions. Those initial changes have created a type of second career, often in roles of leadership consulting, or community support positions, those persons are now filling.
With so many of the preceding generations having left, changing, or beginning to leave the workforce, the number of employment opportunities across the globe is considerable.
Reshuffling
The reshuffling of jobs that has been taking place in large droves. As a result the demand for new positions has begun to exceed the rates at which people are quitting their jobs. While there are multiple factors at play, wages, greater freedom, and flexibility, and want of passionate engagement are some of the points motivating people’s choices.
With this shift, employees have begun to find themselves in positions of greater power to choose who and what they would like to do for work. With employers scrambling to retain and hire new talent to replace those persons that have left, the demand for great help has risen.
No matter where you may be at in your life, your career, or your goals, the tectonic shift in landscape employment has created a yet undiscovered opportunity that may be the next job you are looking for. With those goals simmering in mind, the consideration of how an MBA can support your change in careers or shift to a new position will aid in your ability to do so. Here are some reasons how an MBA can help you land a job.
How an MBA helps your career
The pursuit of an MBA has many benefits from the acquisition of specific knowledge, skills, and abilities, to the hands-on practice of running a business. The experience gained has a proven effect to raise the earning potential. While MBA programs are expensive— ranging from around $60,000 to $200,000— the increase in earning potential is often immediate, and a survey done in 2020 by the Corporate Recruiters Survey found that MBA graduates more often out-earn colleagues that only have a bachelors.
The median salary of MBA graduates is significantly higher— about 75% — at around $115,000 per year. It can be noted that there is a significantly higher rate of compensation for persons in certain career paths like finance, technology, and consulting. While these numbers are impressive and tantalizing, an MBA will not guarantee a high salary. So while a big paycheck looks good, there are plenty more reasons to pursue an MBA.
Gain valuable Skills
Companies nowadays are often looking for multi-talented people who can bring a variety of hard and soft skills to the team. No matter what industry you may choose to go into after graduation, an MBA program can equip you with new abilities like public speaking, cross-cultural sensitivity, economic awareness, and financial acumen. Whether you decide to stick with a career for a lifetime or choose to jump around over the decades, the skills learned in an MBA program will last you a lifetime.
Marketing Expertise
The global and local economies are constantly in a state of flux. The decisions of individuals can turn into trends that shift consumer trends sometimes overnight. An MBA can help to give you an understanding of how and why these economic trends emerge, and how marketing campaigns internally and externally, in reference to whatever corporation you are working with, affect the behaviors of those you are trying to serve.
Marketing professionals are keen in their abilities not only to recognize consumer behavior but how to analyze that information in a way that sets goals to steer a company toward long term success that is in line with customer preferences.
Financial Acumen
All business leaders should have at least a basic understanding of how finances affect the organization. Financial decisions, especially with larger corporations, have to tend with a variety of complex micro and macro forces on productivity. Businesses with skilled financial analysts are more equipped to make healthy goals helping to assist the organization into a more stable future.
Understanding Modern Software
Economies have long since graduated to the use of technology to aid every aspect of business, but with how fast technology changes it can be hard to keep up with the latest inventions. Every business leader should be able to understand which technologies, emerging and present, have the greatest effect on their specific company.
Marketing data analysis, AI, coding tools, and even helpful apps all have the power to shape a company’s success. Staying up to date with the newest software and hardware, companies, and research that affects how human beings do business gives you the confidence to advise and forecast what a company may need to reach those goals.
The global marketplace has gone through some fascinating and powerful shifts in the last few years due to many factors. With these influences, new behaviors have emerged which are redefining how employees and employers think and operate their businesses. With vast numbers of people changing roles or leaving the workforce altogether, there is a lot of opportunity to consider and pursue your own changes in career and lifestyle.
No matter what industry you may currently reside in or which niche you are hoping to transition into, an MBA can help you along that path. The skills, knowledge, and experience gained in your studies will not only help to make you more attractive as a candidate in the hiring pools, but equip you with understanding to make the most of whatever industry you may choose to bring your talents to.
