Project Management & 'The Great Resignation'
According to U.S. government data, 4.3 million people quit their jobs in December of 2021, bringing the 2021 total to nearly 47 million. That’s an all-time record. At the same time, more jobs are being created, and there are a considerable number of job openings (over 10.9 million in the United States in the same month).
The global economy is recovering from the unprecedented impact of the pandemic, and it’s creating situations that no one has seen before and that aren’t fully understood. Factors like supply chain issues, significant wage growth, accelerating inflation, and the ongoing impact of the virus (and measures designed to counter it, like vaccine mandates) all add to the uncertainty in the job market for multiple industries and geographic regions.
The impact on project management careers
Where does all of this leave project managers as they try to pursue a career? Well, as always, there are some positive elements and some negative ones. But overall, I believe project managers should be excited about the future.
The challenges in many industries to fill vacancies and retain employees will likely have a short-term impact on the ability of those organizations to deliver projects. There will be delays, there may have to be adjustments to how solutions are delivered, and there will be pressures on PMs and teams to deliver more with fewer people.
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"The golden rule is that there are no golden rules."
- George Bernard Shaw