In a ‘buyers’ market,’ workers and executives are quitting in droves for better opportunities—or none at all
Late at night, in the stillness of the home office, there is time to think. Through the lens of yet another weekend on call, Zoom meeting spent riding the mute button while soothing a fussy toddler or survivor’s guilt after the latest round of layoffs, one begins to wonder, “Is this what I really want?”
In the marketing world, the answer increasingly is “no.”
Flush with savings after a year of living quietly—and burned out to boot—workers and executives have had time to reevaluate their priorities, and they’re heading out the door in a wave that Texas A&M management professor Anthony Klotz has dubbed “The Great Resignation.” More than 4 million Americans quit their jobs in April according to the Labor Department, nearly three times as many as were laid off or fired, a stark inversion from the early days of the pandemic. A new Microsoft report reveals that more than 40% of workers globally are considering quitting.
Advertising is not immune. Just within the past month, a number of high-profile industry insiders have left their posts. Facebook’s advertising head Carolyn Everson and Bank of America media exec Lou Paskalis departed abruptly in recent weeks. Adrian Parker, VP of digital marketing at Patrón, is decamping after seven years to found an advisory consultancy and write. He told Ad Age last week that he realized “time is limited, and time is valuable.”