on the surface. RENEGOTIATE
Despite what you’ve heard about the Great Resignation, American workers aren’t just quitting the workforce—even though that’s exactly what it looks like
That’s why National Public Radio’s Greg Rosalsky talks about this period as the Great Renegotiation instead. 2 Even though so much of any job is based on negotiable terms, it’s only when a worker recognizes their value to their employer that they realize they can negotiate those terms. What’s negotiable? It’s not just the size of their paychecks. Nowadays workers are negotiating many other working conditions, such as the following: • A better title • More flexible work schedules • The ability to work from home • Reimbursement for continued education • More-generous paid parental leave • Expanded health and wellness benefits • Long-term incentives like stock options or longevity bonuses 3 Employers are increasingly more open to such negotiation— and to making big changes to accommodate their employees’ needs. After all, attracting and retaining the talent they
need is the only way employers can survive in today’s highly competitive environment.
Many workers are even negotiating for more flexibility to pursue side gigs and seek alternative sources of income. They’re looking to diversify their income streams by taking on outside opportunities. In fact, a Finder.com survey found that 66% of Americans intended to look for additional income in 2021. 4 Millions followed through on that plan—and millions more will do the same in 2022. Experts estimate that by 2027, 86.5 million Americans will have some kind of side gig to earn extra income. 5 THE NEW NORMAL CAN BE BETTER THAN EVER The bottom line is this: while some employees are quitting their jobs, many more are sticking around because they feel in control of their career options. We’re in the middle of the Great Renegotiation, after all. And we’re never going back to the prepandemic “normal.” Workers are seeing the value they have at the store, shop, studio, or office. Even more than that, they’re seeing the value of their time, skills, and efforts—period. If they feel free to negotiate their own terms, and if they feel that where they are is the best place for them, it just may be the beginning of a new, even more beautiful relationship.
1 Amy Fontinelle, “The Great Resignation,” Investopedia, February 1, 2022. 2 Greg Rosalsky, “The Great Resignation? More Like The Great Renegotiation,” NPR, January 25, 2022. 3 Lindsey Lanquist, “17 Benefits (Other Than Salary) You Can Negotiate When You Take a Job,” Self , June 1, 2018. 4 Jennifer McDermott, “Almost 70% of Americans Need Extra Cash to Make Ends Meet,” Finder, January 7, 2021. 5 Damjan Jugovic Spajic, “The Future of Employment—30 Telling Gig Economy Statistics,” SmallBizGenius, May 26, 2021.
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