- The Great Resignation is a term coined to describe the wave of resignations happening in the U.S. and Europe after the Covid pandemic subsides. Those who have managed to have a job during the pandemic would have stayed in their jobs due to the uncertain situation of their livelihood. But now, they are in a better position to make a decision to stay or quit.
- Indeed conducted a survey of 1,002 Singapore workers aged 16 to 55 in early December. It reported that 24 per cent of Singapore workers were planning to leave their current employer in the first half 2022, and 49 per cent were unsure if they would stay in their jobs in the next six months.
- The numbers may look alarming but I wonder if the survey were conducted on users of Indeed, it would be a biased sample if that’s the case. And those who said they plan to leave may not eventually leave. However, if this is reflective of the overall labour pool, the Great Resignation would have arrived in Singapore.
- I think the burgeoning creator economy is a contributing factor to some of the resignations. It is a big pull factor for those unfulfilled employees. Striking out on your own is much easier today with many different platforms and media available to market your products or services.
- I see it most prevalent in the digital marketing space probably due to my business. It could be content writers who have turned to freelance writing for several companies instead of sticking with one organisation. It could be a Search Engine Optimisation or Google Adwords specialist who offer his services on Upwork or via word of mouth. They could also be setting up their own sites to make money through affiliate marketing.
- Some have decided to pursue their passions in baking – sell their self-made cookies and cakes and using Instagram as a key marketing channel to reach customers. This is not possible in the pre-internet era where you need to pay an advertising slot on TV, newspaper or radio that makes it commercially unviable.
- There are those who went on to set up their own stores on e-commerce platforms such as Shopee and Lazada. They often source their products, slap on their labels and market them. Or they could do livestreaming to push sales.
- Another group would be the content creators. It could be creating videos on YouTube and get paid based on ad views in their videos. Or it could be writers who sell a subscription on Substack. Or influencers who get paid for promoting products to their Instagram, TikTok or podcast followers.
- Today people can even get paid playing video games. The top players are able to attract a following who may pay to watch their gameplay on platforms such as Twitch.
- Artists and designers are increasingly having more monetisation channels. They could be doing design projects for posters and banners for various companies or dive into the world of NFTs. Or they could be designing items which could be sold in the metaverses such as Roblox.
- There is bound to be an avenue where you can have the relevant skill and passion to thrive in the creator economy. I think we have gone a full circle. Our early ancestors used to work for themselves as artisans or merchants. The concept of job was created by Industrialisation. Now, a large group of individuals are beginning to work for themselves again.
The Creator Economy plays a part in the Great Resignation
Last modified: December 21, 2021