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Will 2022 Career Trends Such as 'Quiet Quitting' and 'Loud Layoffs' Carry Over into 2023?

As we move into 2023, there are five financial steps you can take to set yourself up for success.

December 26, 2022
8 minutes
minute read

Chandra Sahu, 25, made the decision to leave her job in investment banking during the Great Resignation of last year. The New York City resident was determined to find a job that would provide her with more flexibility. She wanted to find a job that would meet her "top priorities" and give her the opportunity to show her "agency and creativity". Eventually, she found a job at a startup.

Sahu expressed a desire to work in an environment that was collaborative and fast-paced like banking, but with a focus on the user and the problem at hand.

Sahu emphasized the importance of having time to pursue her interests outside of work. She expressed that she has made an effort to create a lifestyle that allows her to live the life she desires. “I’ve really tried to prioritize making space for habits in my life,” she stated.

Christine Spadafor, a management consultant, has identified prioritizing quality of life for employees as one of the most important career trends of 2022. She noted that this could be a major shift in culture for many companies, as it requires looking at employees in a more comprehensive way.

As we move into 2023, there are five financial steps you can take to set yourself up for success. Consider using pay transparency to negotiate a higher salary, and if you're an investor, you may want to consider shifting your retirement funds away from stocks and into more secure asset havens.

Spadafor emphasized the importance of considering the overall well-being of employees, not just their work. This includes their financial, social, physical, and mental health. Mental health has been receiving a lot of attention lately, and rightly so.

Following the Great Resignation, many employees experienced what has been termed the "Great Regret" - acknowledging that they should have stayed in their job. This workplace issue of 2022 may be different in the upcoming year, according to some specialists.

William Crawford Stonehouse III, founder and president of Crawford Thomas Recruiting in Orlando, Florida, noted that there is a slight reluctance to take action, suggesting that people may be holding back a bit.

Despite the fact that some large, well-known companies have had to let go of employees, many employers still need to keep their productive staff. According to Stonehouse, "The unemployment rate is still so low that if you ask 10 medium-sized business owners in the US right now, they will all tell you that there is a job they would fill if they could find the right person."

When Sahu left investment banking in 2021, she was not concerned about finding a new job. She was eager for a change. Fortunately, the startup she joined was purchased by the social media company Pinterest earlier this year. In a short amount of time, she was able to secure a coveted product manager position. Despite her busy schedule, she still manages to find time for yoga, reading, and other hobbies every week.

She expressed her amazement at being able to take a step back and determine how to structure her life around the decisions she wants to make, while still having the discipline in her job that she truly enjoys.

Sahu's job changes could be indicative of a trend that some workplace management professionals refer to as a "career correction." Rather than simply going through the motions at work, employees are deliberately transitioning from a work environment that rewards long hours to one that places more emphasis on employees' lives outside of work.

Christie Smith, the global lead of Accenture's Talent & Organization Practice, commented that people are attempting to utilize their right to find a job that meets their requirements, such as their family, work, and location needs.

This year, there have been a number of buzzwords to describe common workplace issues, such as "shift shock" when a job is not what was expected, "boomerang employees" who come back to a job they left, and "career cushioning" which involves adding new skills and reconnecting with contacts after a high-profile company has had a round of layoffs. However, these buzzwords may not be around for long.

Smith believes that employers will continue to prioritize talent in the future. He stated that the focus will be on obtaining the right skills and placing those individuals in the appropriate roles within the organization.

Acknowledging the requirement for adaptability among employees will be critical to filling positions.

Tina Paterson, a consultant and author of “Effective Remote Teams” based in Melbourne, Australia, believes that those who cling to the traditional office model are going to be left behind in the competition for talent.

«Outstanding employees always have choices - and the evidence is so convincing that people desire a bit more freedom, either in a hybrid or completely remote setting, when it comes to their work environment,” she continued.

Sahu speaks on behalf of many other younger workers, expressing that senior managers can demonstrate their understanding and appreciation of their employees' needs through their own behavior.

She stated that carving out time for your children, hobbies, or personal life is a sign of a successful leader and is a regular practice.

John Liu
Eric Ng
John Liu
Editorial Board
Bryan Curtis
Adan Harris
Managing Editor
Cathy Hills
Associate Editor

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