The “Great Resignation,” also known as the Big Quit or the Great Reshuffle, refers to a trend where employees voluntarily left their jobs en masse. This trend started in the US and spread to Europe, resulting in a significant number of people leaving their jobs, taking time off, moving abroad, or changing sectors. During the pandemic, some individuals reskilled using furloughs or other supports. Now, a new trend called returnships is emerging as a way for professionals to reenter the workforce without starting from the bottom. Companies like Amazon, Accenture, and Goldman Sachs are offering return-to-work programs to capture talent and support professionals after a career break. Returnships provide paid, structured support and help individuals reintegrate into the workforce. They also offer opportunities for career acceleration and skill development. While returnships are generally positive, there is no guarantee of a job at the end of a program. Nevertheless, participants gain valuable work experience, sharpen existing skills, and enhance their hireability in the job market.
| Signal | Change | 10y horizon | Driving force |
|---|---|---|---|
| “Great Resignation” trend | Mass voluntary job resignations | Increased focus on work-life balance | Desire for better work-life balance |
| Rise of returnships as a way to reenter the workforce | Reentering the workforce after a break | More companies offering returnship programs | Recognizing the talent pool of returners |
| Imposter syndrome and confidence gaps addressed through returnships | Building confidence and reintegrating | Increased support for returners | Addressing confidence gaps and imposter syndrome |
| Returnships as a chance to accelerate careers | Skill development and specialization | Faster career progression | Opportunities for skill development |
| Uncertainty of job guarantee at the end of returnship | Potential job offer uncertainty | Potential job opportunities | Company performance and feedback |
| Positive outcomes of returnships | Enhanced work experience and skills | Improved hireability in job market | Personal and professional development |