How Quiet Quitting is Impacting Small Businesses Across the Country
October 11, 2022 | Last Updated on: October 11, 2022
October 11, 2022 | Last Updated on: October 11, 2022
Quiet Quitting amongst the newer generations is changing the workplace environment around the country. But what is Quiet Quitting, and how it’ll impact your small business?
Small business owners are facing a slew of challenges as of now. With the threat of a recession on the horizon, historic high inflation, and freshly out of the Covid 19 pandemic, these past few years are a complete test of strength to any small business owners’ resilience.
And now, another challenge comes their way, this time from their workforce. Quiet quitting is impacting many businesses in the United States, from the biggest to the smallest, and every business owner must take it into account.
There’s a reason why quiet quitting is happening throughout the American workforce. As you’ll see in this article, it’s not as straightforward as it seems. Here you’ll learn everything you need to face this problem, as well as:
And more. Get to know not only about this new challenge business faces and why the new generations in the workforce feel this way.
Quiet quitting is a term that can be somewhat misleading, as it means that workers are only doing their job and nothing more. While older generations saw the idea of going the extra mile for the company as desirable — with the ambition of career progression — new generations see it as not worth it in today’s professional market.
After the pandemic, as people started getting back to their respective workplaces, it would never be the same. Working from home has changed the scope of work in the world. For newer generations that grew up with technology, remote work might be all they know.
As for millennials, many got tired of their jobs which gave them little to no financial benefits. As such, millennials started a social media movement with disapproved employees working back to back during the pandemic — and the country would know it as the Great Resignation.
Putting it simply, quiet quitting means that first-time workers are tired of the norm of working hard and devoting too much of themselves to their company. They believe they’re getting the short end of the stick and want to change how they work and live.
From a bird’s eye view of the problem, it might seem that Millennials and Gen Zers are doing the bare minimum out of laziness or bad work ethic. But that doesn’t quite reflect the meaning of great resignation, nor the younger people’s point of view of the workplace.
The fact is that most quiet quitters aren’t lazy but are more than likely dealing with burnout. Although corporate America might’ve passed the pandemic time and be back to business as usual, the fact is that the workplace has changed forever.
As remote work became the norm in many businesses, workers can’t differentiate between working and personal hours. With after-hours e-mails, they might be devoting more time without realizing it and don’t feel compensated for such. And now, with more technological innovations, we’re carrying around our office on our laptops or smartphones.
While it might seem like a lack of commitment not answering an e-mail Friday night, it could mean that workers are simply setting boundaries or might even be exhausted if they’re devoting too much of their time. Studies have shown that a healthy work-life balance is more important to Millennials and Gen Zers rather than climbing the corporate ladder.
As an employer, you can see how a worker’s lack of commitment can impact your business. As new employees seem to be very disengaged and disinterested in their responsibilities, it can lead to frustration on your part. Even when established employees that were once reliable seem to be dropping their efforts, the employer or the manager position gets that much more difficult.
American business owners want, understandably, the success of their business. And the idea of unreliable workers might seem like a nightmare that can crush the dream. And with the pressure adding up, productivity levels dropping, and the responsibilities of small business owners nowadays will also put the majority in a bad spot. That might lead to layoffs or put more pressure on the managing staff.
As an employee, with him seeing the quiet quitting trend on social media, being pushed by employers, seeing their own home transformed into a second office, and having their free time consistently chipped at will put a strain on their well-being. Workplace culture has shifted, and employees are tired of being fed the idea of a hustle culture. They value their healthcare even more — physical and mental health.
For the younger generations, working from home might be everything they know at the moment. With after-hours e-mails a consistent factor, free time dedicated to more work, and no remuneration to back it up, they will feel there’s too much work for too little reward.
For example, in the case of the restaurant industry, there was a spike in quitting rates during the Great Resignation. Young workers oftentimes felt overworked and underpaid, which led many young adults to burnout.
Quiet Quitting impacts every business, but small businesses are prone to take the biggest hit — if they do not prepare for such, and you’ll get some tips for that in a moment. As you’ve seen, nobody is at fault on this subject. Employees want better conditions, and employers simply want their businesses to succeed.
At the moment, the U.S. faces a complicated moment in the professional market. Both employees and employers must deal with evermore financial difficulties and a continuous change in how we perform our jobs.
A small business’s team is its backbone and makes the small business live and thrive, even through hardships. A small business owner might have the best in mind for their staff, but the fact is that the labor market has changed. While you might be passionate about your small business, some of your staff might not be.
As such, small business owners can see a significant drop in productivity and staff engagement with work if they don’t take care of their team’s wants and needs. You might find your staff members taking more days off or simply not showing the productivity numbers they once showed.
With morale levels dropping, productivity levels also drop, and that leads business owners and human resource teams to be more involved in the business’s daily activities. It might lead to a drop in productivity, sales, profits, and customer satisfaction, putting your small business at risk.
A risk you can’t afford to take, especially with a recession on the horizon. During a recession, more troubles await you, like acquiring business funding. Financial institutions and credit unions will tighten their belts during these times, and you can’t afford to be distracted by every problem. Biz2Credit can help you remove the business funding concern from your mind! Contact our team today.
As a response to this new trend, business owners around the country started introducing another new idea called quiet firing. In this trend, employers tend to make life hard for employees in the hopes that they’ll quit their current position on their terms.
Making an employee leave on their own terms might look appealing as outright firing might be too costly for business owners. But by no means that solves the problem in question, as another applicant might just do the same if business owners didn’t deal with the root of the problem.
As a business owner, it’s your responsibility to ensure your small business thrives, and for that to happen, you need a professional and dedicated team. Let’s look at a few steps small business owners can take to improve their team engagement and morale:
With the quiet quitting trend going through much of last year and this one, it seems that’s not going away anytime soon, and it also appeared at a sensitive time for small business owners. After a pandemic, with inflation and supply chain issues straining their cash flow, and a recession on the horizon.
While Biz2Credit might not be able to help you secure your workforce, it can help you to offer the means to do so. While you’re concerned about maintaining your staff happy and engaged, you might not have the flexibility to look for business funding at such a crucial time.
With Biz2Credit, you don’t need to! You can apply with just 4 minutes of your time and see your loan request approved within as little as 24 hours. Like Munna Ali, owner of Ali Realty, with little time to get funding, applied to Biz2Credit and got funded in three days. Do the same as Munna, and apply today or reach out to our team with any questions you might have!
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