It’s no news that jobs are plentiful, and the applicants are few. There are many considerations that factor into this complex dilemma. Let’s look at some of the ripple effects COVID has had on this.
Ongoing illness: I’m not the only one who has had Covid two or more times. There is also “long COVID” which affects people’s ability to return to work. This winter has the triple threat of COVID, the flu, and RSV.
Fear of returning to work: Although the lockdowns are history, many people are still concerned about their health when it comes to returning to the workplace.
Lack of childcare: many potential workers are choosing to stay home to care for children. There is a lack of good, affordable childcare, and some parents are concerned about the health of their children, especially during this winter’s Triple Threat.
The Great Resignation: as is well-documented, when people couldn’t go to work at the office due to the lockdowns, many found working remotely a pleasant experience. People reassessed their careers, their lives, and their work/life balance. Although remote work and hybrid work environments are plentiful now, many decided to change jobs or careers.
Education and Training: Some people enrolled in classes and programs to get new skills and certifications so they could make job and career pivots. This too took people out of the workforce.
Entrepreneurship: with the desire for control over their work, their work environment, their schedules, and the money they make, people are happy being part of the gig economy. More and more people are becoming freelancers, independent contractors, consultants, and coaches. As a franchise advisor, I can say from a front-row seat that people are also choosing business ownership over a job like never before.
This is the biggest year in franchising I’ve seen in the 20 years I’ve been in the industry. The franchise industry - especially service franchises - has been tremendously impacted - in a good way - by the pandemic. To learn more about recession-resistant businesses that thrive in down economies, message me on LinkedIn.