All right, you might be one of them,
or at least it's a good chance
that you at least know someone
who has recently quit their job.
A new report shows 40% of workers
are considering leaving their jobs
in the next three to six months,
so we're not done yet with this
here to talk more about why
so many people are leaving,
and maybe more importantly
where they're going,
is money and business expert and
author of the new book Good Good Money
Revolution Derek Kinney back with
us once again here this afternoon.
Hey, Derek. Hi Jason, good to see you now.
Good to see you always so let's
talk about this 40% number.
That's a big number of people who
think that they might be leaving their
jobs in in the next six months or so.
Where are people going once
they're leaving their current jobs
because we've been seeing this for
months and months and months now,
yeah, so check this out of the 40%.
Half of them are leaving their current
industry and going to do something new.
There's pandemic burnout.
There's the desire to make more money.
And they're simply packing up
and moving to someplace else.
The other people are either
wanting to work from home,
and they're wanting to stay there
and work part time and have the
freedom and flexibility home provides
or more and more people Jason,
or taking that entrepreneurial bug and
taking the risk and betting on themselves.
Yeah, you know what.
That makes a lot of sense.
We've been seeing that, you know,
borne out in the numbers,
and it seems like every time I do
these stories about, you know,
Texas having a huge number of
people quitting their jobs,
people get all up in arms and they go.
People need to get back to work.
It's not that people are just quitting
and going and sitting back at the beach.
Derek, they're they're looking for other
opportunities out there because the
job market is just ripe for them right now.
What do you think is the the the
biggest reason that people leave?
Is it money?
Is it that flexibility?
Are they just looking for like you said,
something new because they've got
that pandemic burnout from their job?
Well, it's so funny to think even when
I had my business and I would talk to
my employees about working from home,
I thought that was really the enemy.
Because you couldn't service clients,
it seemed like, hey,
you're not going to be working all the time,
and once we saw the pandemic occur,
that entire philosophy shifted and now
employees have tasted the fact that hey,
we can work from home.
We can be super productive,
even more productive at
home than at the office.
That trend is likely not
going to change anytime soon,
so companies right now that give their team
flexibility and the opportunity to job,
share or to work part time from
home and at the office are
clearly the winners right now.
Derek, I've been a big
huge proponent of that.
Do you know how much more work I get
done sitting in my living room than
at an office in the office where
you're constantly interrupted you?
You can't get one thing done for a
span of like 45 minutes because you
keep batting down those interruptions.
So the question is here,
how are companies filling all of these voids?
That all these quitting employees
are leaving behind?
Because it seems like companies just
never stop having to keep hiring.
Well, Jason, first of all,
the reality is that all of us are
more productive in our pajamas,
and so that's what's causing all
of this heightened productivity.
But here's the opportunity.
So people are leaving these companies.
What it does is it leaves gaping holes.
I call those opportunities for people
to step into jobs that they typically
don't have the experience to fill.
So what HR people are looking for is
not just the educational background,
but simply experience.
If you've got the skills as I
like to say that pay the bills,
you can apply for these jobs.
You typically get a higher pay
grade because companies need
to put bodies in those seats,
and if you can impress and
really take responsibility,
you're going to stand out and you
might even launch a new career
that you weren't even planning on.
And I've talked about this before too.
Derek and I think we've talked
about this apply for the job,
even if you don't meet every single one of
the key things that they're looking for.
If you meet a lot of them,
the chances are right now they'll
at least consider you at this point
because they're desperate for
people in a lot of these places.
What do you do, though?
Eric, if you're one of these
companies to try to keep people happy.
I mean yeah, you know,
maybe you start considering
remote work because again,
we all get more done in our PJ's what?
What sorts of things do
you need to be looking at?
Well, you know, as I talked about
on this show a lot for the viewers
you want to follow consumer behavior
when it comes to investing.
Companies want to follow employee
behavior when it comes to their
company and that means listen.
If your employees are clamoring to
work from home, you've got to realize.
Look, I need to bend to this or at
least appeal and come up with a
strategy to give some of them that
opportunity or they're going to leave.
One thing we know is the most costly
part of running a business is
hiring and then training new people.
The retention right now is the golden egg.
If people can hold on to that and
what I like to say Jason is have
open proactive communication.
Talk to your team,
tell us your concerns right now.
What are you thinking?
What would you like to see happen?
You'd rather tell them while they're
working there than in the post job
interview when they've already left.
So Derek, if I'm running a company
and I just keep on swimming against
the current and people are asking
to work from home and I keep going,
Nope, and I'm ready to see them
walk out the door for that.
But I'm hiring new people.
There's a good chance that those new
people are going to hear from jobs
that allow them some flexibility,
and they're gonna leave me too.
And I'm just gonna keep on
going through this same cycle.
So maybe I stopped swimming
against the current.
Yeah, it's time to change your snorkel
gear and get some scuba equipment and
really dive deep is what I suggest you do.
I like that you stayed with me
on that metaphor. There, Derek.
It took it that extra step.
Derek Kennedy, financial expert,
author of the new Book,
Good Money Revolution.
It's always great having
you Derek, thank you.