49: How The Great Resignation May Impact You Or Your Business Whether You Are Starting A Business,
49: How The Great Resignation May Impact You Or Your Business Whether You Are Starting A Business, You Are Self-Employed, A Solopreneur, Entrepreneur, Small Business Owner, Virtual Online Bookkeeper, Virtual Assistant Or VA
Have you heard about The Great Resignation or The Big Quit? It seems to be impacting businesses big and small, but it doesn’t stop there. Individuals or employees are seeing the impact of The Great Resignation as well. The Great Resignation may have started with the pandemic, but it will be interesting to see how everything unfolds over the next few years. I am seeing this particularly as business owners are struggling to find quality employees, but even more, I am seeing it on the other side where individuals have enjoyed working from home and want to start their own business to continue with the new life they have been acclimated with from the impact of the pandemic. In today’s episode, I am going to cover what is driving this Great Resignation, who it is impacting the most and what you can do to improve your situation whether you are a business owner, a solopreneur, entrepreneur, virtual online bookkeeper or virtual assistant, or you are just getting ready to start your small business. I am going to dive into both sides of this Great Resignation, and specifically, I will be touching on how bookkeeping will be impacting business owners and why now is a perfect time to create a profitable bookkeeping business. If you’ve been on the fence about starting a bookkeeping business, or have been just thinking about it, listen in so that you can see just how valuable bookkeeping is for businesses, especially with The Great Resignation as business owners are relying on bookkeepers now more than they ever have…
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Show Notes:
Have you heard about The Great Resignation or The Big Quit? It seems to be impacting businesses big and small, but it doesn’t stop there. Individuals or employees are seeing the impact of The Great Resignation as well. The Great Resignation may have started with the pandemic, but it will be interesting to see how everything unfolds over the next few years. I am seeing this particularly as business owners are struggling to find quality employees, but even more, I am seeing it on the other side where individuals have enjoyed working from home and want to start their own business to continue with the new life they have been acclimated with from the impact of the pandemic. In today’s episode, I am going to cover what is driving this Great Resignation, who it is impacting the most and what you can do to improve your situation whether you are a business owner, a solopreneur, entrepreneur, virtual online bookkeeper or virtual assistant, or you are just getting ready to start your small business. I am going to dive into both sides of this Great Resignation, and specifically, I will be touching on how bookkeeping will be impacting business owners and why now is a perfect time to create a profitable bookkeeping business. If you’ve been on the fence about starting a bookkeeping business, or have been just thinking about it, listen in so that you can see just how valuable bookkeeping is for businesses, especially with The Great Resignation as business owners are relying on bookkeepers now more than they ever have…
Welcome Back…The Great Resignation or The Big Quit is causing all kinds of turbulence in the economy. You see “now hiring” signs everywhere as you drive down the street, and business owners struggle to not only hire quality employees, but now more than ever, they have to make sure the employees they currently have are happy and don’t jump on this Great Resignation bandwagon.
So, what is The Great Resignation or The Big Quit anyway? Well, what we are seeing since the pandemic is that there are many employees who are deciding to not go back to work and simply resign from their jobs. Many of these people have been fed up with their jobs for a while and once the pandemic hit, they decided to resign, or are planning to resign in the near future. Some employees are suffering from burnout due to staff shortages in industries like health care and food and hospitality industries, others are seeing how differently they could be living their life and most of all, after working from home for such a long time, many of these employees just don’t want to go back to the office. Industries such as information technology and financial are seeing the same surges in The Great Resignation. The pandemic certainly changed how people think and value their life and it is causing them to reassess their work opportunities and have them striving for a more desirable work/life balance.
It seems the average ages of the majority of the employees participating in The Great Resignation are between the ages of 30 and 45 years old. Employers need to be proactive with their employees and be mindful of any employees resigning in one department and how this will start to impact other departments in their business. You certainly don’t want the resignation of one employee to start a domino effect on other employees due to unwanted workplace stresses. You also want to dig into why these employees are leaving. Is it something that could easily be fixed such as compensation a promotion or could you even possibly take a look at performance and training? Can you identify these issues prior to actually loosing your employees to make sure you are able to retain your good employees by creating a retention program? Turnover is expensive to employers and any strategy to eliminate it will be well worth the time and money invested. Make sure you are asking your employees what is or is not working for them and see if there are any changes you can make to let your employees know that you care about them and don’t want them to leave.
Many employees are asking for changes in the workplace and their working conditions, and business owners need to weigh these decisions carefully as to not loose the employees they count on so much. Employers may want to start considering remote work as part of their standard working policies and may even try to work in flexible schedules to accommodate their employees and really work towards creating the work/life balance employees struggled with even prior to the pandemic.
Over 40 percent of employees who plan to quit their jobs want to start their own business, and many of these employees are in the technology industry. Most of these employees want to find a job that they can work from home, or you may have even heard the term work from anywhere. These people don’t want to be tied to an office and are really open to the term remote worker. The time they spent working from home during the pandemic gave them the opportunity to explore other options for making money. Some were even able to develop a new skill or passion which is now allowing them to pivot their career.
Are you one of the employees who wants to quit your job and start your own business? If you are, you know that by listening to this podcast, you will get all kinds of information on how to “Master Your Small Business Finances”. I see the influx of business owners and the great need for these business owners to understand their finances so that they can make smart business decisions. If you are not making decisions based on your finances, you could be in for some trouble down the road. I highly recommend if you are a business owner and you know you don’t have the time, knowledge or are just not interested in doing your own bookkeeping for your business, that you find a bookkeeper that you feel comfortable with to help you where you lack these strengths in your business. Be honest with yourself here so that you can stay on top of your bookkeeping and keep up to date with your finances. Not only will this help you when you go to file your tax return at the end of the year, but there are so many decisions you will need to make in your business that require you to have a pulse on how your business is doing financially so that you can have a successful impact on your business and grow your bottom line. If you haven’t already received your 5 Essentials For Stress Free Bookkeeping, grab your free guide by going to https://www.financialadventure.com/5essentials. This guide is helpful whether you are doing your own bookkeeping for your business, or you are doing bookkeeping for multiple businesses by covering the five essentials every business needs to do to have stress free bookkeeping.
With so many new businesses starting up over the next few months, bookkeepers will be in demand more than ever. If you have been thinking about creating a profitable bookkeeping business, I have a program where you can gain the confidence, skills & knowledge to create a profitable bookkeeping business without feeling alone, overwhelmed or confused about your next steps in 90 days or less. This is a program where I personally help you create the freedom and flexibility to work from home (or work from anywhere) while earning a reliable income without sacrificing your cherished and limited time. I know how important this is in life. I created this framework from my own bookkeeping experiences to get you from starting, growing and scaling your own bookkeeping business in the most efficient way possible. I shorten the learning curve and even include a private bookkeeper community of other bookkeepers just like you to help provide ideas, stay motivated, hold you accountable and celebrate your success with you all along your journey. I open enrollment on a rolling basis throughout the year. If you’d like to be notified when the next enrollment is, make sure you are on the waitlist. You can go to www.FinancialAdventure.com/Elevate-Waitlist to sign up and I’ll make sure you are the first to know when enrollment opens up again.
I want you to know that I am here to help you with any bookkeeping questions you might have, and if you are one of the over 40% of people looking to start your own business in the next few months, let me know. I am excited to be on this journey with you. Entrepreneurship is a passion of mine, and I absolutely enjoy hearing about all your new business ventures! You can contact me by going to https://www.financialadventure.com/Contact-Us I respond to all my emails personally, and I love hearing from you. I’ll post links to all these pages for you where you are listening to this podcast.
And, you know I’m going to ask…what’s at least one thing you will take away from this episode that will help your business succeed and grow your bottom line? If you need some accountability, join our PRIVATE Facebook community and post your action item, we’d love to support you.
