The Great Resignation is on. Millions of workers are changing careers for better opportunities in 2021. What is causing it and how can you capitalize on people changing their jobs?
Rick and Matt discuss how the Coronavirus pandemic crisis has made people view job security in a whole new way. People now have this realization that a job previously considered safe – can end abruptly because of mergers, acquisitions, or a pandemic economy.
Let’s look at why people are changing careers by looking at an industry that was hit hard during the pandemic – servers in the restaurant industry. Servers was one of the largest sectors that’s lost jobs because COVID heavily affected it. Due to closures, they couldn’t work, so we understand why they are leaving their jobs due to lack of job security and lack of income, but many people in professional careers are leaving their jobs as well. But it’s also happening to many other mid-level and senior management positions.
Now, at first you think why is this happening to professional careers that weren’t as impacted as server’s careers who lost their jobs and income? You may say it was strictly because of COVID. In reality, it boils down to anytime there’s a major change in someone’s life; it is an opportunity to change habits and to develop new patterns. Before the pandemic, people were working so hard they didn’t have time to think, but the pandemic provided time for people to take stock and reflect on why life is not fulfilling and why they don’t want to do this job the rest of their life.
The big retailers have always understood the idea of attracting new customers as they are transitioning (moving into a new home, or a new state, or a new neighborhood), then you are getting people as they begin to develop new habits. You shop in different places, join a different gym, or start using a new lawn care service. Then, once you get those new habits in place, you don’t change that much. Retailers know once when you can get someone in that transition period, they have more opportunities to make them a new customer. Check out the book Power of Habit, that described how Target uses data like when mothers are pregnant. What they know is if you can sell them diapers, you can sell them everything else. Why? Because a Mom will go to Target to buy diapers because of the advertising she receives. While she’s there, she’s not going to make a separate trip to go to her favorite grocery store. She’s probably going to get everything at Target.
Now a pregnancy/new baby is a big change in someone’s life. It’s also a great time to get them to start new habits. Same thing with moving, but there has been nothing more impactful to change people’s lives than a pandemic. It fits into that same category of life-changing events. So it forces you to take stock of where you are, maybe where you want to go, and what you want to do with the rest of your life because it rattles your paradigm of security. Security is not what we thought it was, and it can be disrupted at any moment.
Evidence shows more new business licenses have been applied for in 2020 and 2021 than the previous 10 years combined. While all the pandemic panic was happening, there were many people who were using this change to create better opportunities for themselves. Corporate America is not the same anymore – where you work, retire and get a pension. Your company can be acquired and now you are in a redundant position and may face a job layoff. There’s just not as much security. Many managers are highly educated and experienced, and they bring a lot of value to their position. When something like a pandemic hits and you’re working at home giving you some time to think about your situation, naturally you start thinking “what am I doing with my life?” For someone who’s not been an entrepreneur before and wants a little security with a proven and turnkey system, then franchising is a great option for them.
The good news is that there’s many people are looking for what’s next in their life and finding a new career with meaning, which certainly fits with the Alloy Franchise model. We’re going to see more of this over the next year until we get stable again. This major upheaval right now brings a paradigm shift, causing people to step out of their comfort zone and take a bit more risk to do something they want to do.
Just like in any crisis, there are many ways you can capitalize on the opportunities. For example, now is the perfect opportunity to become an entrepreneur. And just like the pandemic has caused the disruption in the job market, it has also made us more conscious of our health and wellness. Becoming an Alloy fitness entrepreneur is a very attractive opportunity right now. There is no better way to go about it than going the Alloy Franchise route – because you are buying a proven concept with all the systems and processes in place to ensure you succeed.
Tune in to learn more about the Alloy Personal Training Franchise opportunity and why this is the perfect time to join the Alloy Family!
- The great resignation (04:20)
- What’s causing the upheaval in the job market? (05:26)
- Power of habit (06:54)
- Making changes due to a life-changing event (09:27)
- Why this is the perfect time to own an Alloy franchise (10:16)
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