How Work Is Changing | CNBC Marathon

691,539
0
Published 2023-04-14
CNBC Marathon explores the evolution of work in America since the covid pandemic.

In August 4.3 million Americans quit their jobs. While some people have left the workforce entirely, job security and better pay are top concerns for others. Dubbed “The Great Resignation”, the exodus of workers has created hiring challenges for companies and left millions of jobs unfilled. More than half of U.S. workers surveyed said they plan to look for a new job in the coming year, according to Bankrate’s August jobseeker survey. Some 56% of respondents said adjustable working hours and remote work were a priority. Working women have faced an additional burden, juggling childcare duties, virtual schooling and their careers. So, what does the realignment of the workforce mean for employees and businesses? And what steps should you take before quitting your job?

“Quiet quitting” is having a moment. The trend of employees choosing to not go above and beyond their jobs in ways that include refusing to answer emails during evenings or weekends, or skipping extra assignments that fall outside their core duties, is catching on, especially among Gen Zers. Last year, the Great Resignation dominated the economic news cycle. Now, during the second half of 2022, it’s the quiet quitting trend that’s gaining momentum at a time when the rate of U.S. productivity is raising some concern. Data on U.S. worker productivity posted its biggest annual drop in the second quarter. So, why is this trend on the rise? Watch the video above to learn whether quiet quitting is hurting the U.S. economy and how it’s being seen as part of the Great Resignation narrative.

Social distancing regulations to combat the coronavirus outbreak are forcing millions of Americans to work remotely. However the trend of working at home has been on the rise of a while, with regular work at home growing 173 percent since 2005 according to Global Workplace Analytics. Global Workplace Analytics found that companies save an average of $11,000 per year per employee who works remotely part-time. While research indicates the best work from home system requires 2-3 days in the office and 2-3 days at home, can employees still be productive during this outbreak? CNBC examines if the U.S. can still be productive while working from home.

From burger-flipping machines to car-building robots—not to mention high-powered software taking on more and more administrative tasks—it seems like hundreds of skills are rapidly becoming obsolete in the U.S. economy. A recent McKinsey study found that AI and Deep Learning could add as much as $3.5 trillion to $5.8 trillion in annual value for companies. The economic shock of the coronavirus pandemic hasn’t helped. In fact, Covid-19 could be accelerating the pace of automation.
CORRECTION: What Coronavirus Means For Automation And The Future Of Jobs misstated Marcus Casey’s title. He’s an associate professor of economics at the University of Illinois at Chicago.
And Clive Wilkinson designed the Googleplex, now he’s helping build workplaces that accommodate the needs of hybrid work.

CNBC Marathon brings together the best of CNBC’s coverage on the new American office.

Chapters:
00:00 Introduction
00:41 The Great Resignation: Why Millions Of Workers Are Quitting (Published October 2021)
12:15 How ‘Quiet Quitting’ Became The Next Phase Of The Great Resignation (Published Sept. 2022)
20:33 What Coronavirus Means For The Future Of Work From Home (Published March 2020)
35:19 What Coronavirus Means For Automation And The Future Of Jobs (Published Sept. 2020)
49:44 How Tech Companies Are Redesigning Offices To Lure Workers Back (Published June 2022)

» Subscribe to CNBC: cnb.cx/SubscribeCNBC
» Subscribe to CNBC TV: cnb.cx/SubscribeCNBCtelevision

About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.

Connect with CNBC News Online
Get the latest news: www.cnbc.com/
Follow CNBC on LinkedIn: cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook: cnb.cx/LikeCNBC
Follow CNBC News on Twitter: cnb.cx/FollowCNBC
Follow CNBC News on Instagram: cnb.cx/InstagramCNBC

#CNBC

All Comments (21)
  • @motif1974
    Not working more than 40hrs a week isn't "quiet quitting" -- it's just working a full-time job.
  • @cjdiva6440
    I think it's mainly that people are tired of working just to cover basic living expenses and have nothing left to just enjoy your life... and for many young ppl the thought of doing this until you literally die with no hope of retirement or any respite is depressing... 😢
  • @susannnico
    The wisest thing that should be on everyone's mind currently should be to invest in different streams of income that doesn't depend on the govt. Especially with the current economic crisis around the world.>
  • Stop calling it quiet quitting or anti-work if you also say it is people doing what they are asked and not going above and beyond. That's doing your job.....
  • @pnketia
    As someone who worked with Boomers, Gen Z and Millennials I originally didn't understand why the younger generation was "quite quitting", but then when I saw how management didn't offer them any bonuses or extra vacation time in exchange for them working over and above what was required I then understood and agreed with them. One young girl said to me, "Why should I give my additional time and effort just so the CEO can get an extra 20% performance bonus and all I get is my hourly rate and maybe a thank you!" She stated her time is valuable and giving it away for free to an employer who doesn't appreciate her is not going to happen!
  • @Dainja
    I work from home full time and I love it! I can finally poop in peace without everyone in the office knowing how long I've been in the restroom or trying to come in when I'm in there. I can actually attend meetings (virtually) without worrying about involuntary internal gas sounds coming from my guts. I do the exact same job that I was doing in the office, but now I do it from the comfort of my home. The employer gets what they want from me. I get what I want from them. Everybody wins. That's a good thing.
  • @markdc1145
    The so-called "Quiet quitting" trend is essentially how most people in Europe work. People put in the required hours but only do what is expected of them and are out the door by 5pm.
  • @nioxa5421
    The time during the pandemic was a blessing for me. I have a labor intensive job. I was very very burned out at the time, in pain, and sick. Because everything was slow, it gave me a chance to “rest” both mentally and physically.
  • @Avery-ew6kj
    Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg._.
  • All of 2021 and 2022, I worked a "hybrid" position, only had to go into the office 1 or 2 days a week. But for me it was a long commute for those 1 or 2 days (my office was in an area I really did not want to move to...too far from family, friends, good social life). In late 2022, I acquired a fully remote position. Life is good now. I hate offices.
  • Nothing like doing above and beyond for your employer. Only to be told you're not getting a raise this year. Now working a job that pays me double and I work half as hard to get everything done. And my new bosses are very happy.
  • @wojrej777
    The wisest thing that should be on every once’s mind currently should be invest indifferent streams of income that don’t depend on the govt. Especially with the current economic crisis around the world this is still a good time to invest in Gold, silver and digital currencies (BTC, ETH….)
  • @XxXenosxX
    Work to live, not live to work. Life is about living and if workplaces don’t provide enough incentive (ie money/time) then it falls behind in priority
  • @TKGZONE
    omg how dare you not do more work than agreed upon! shameful
  • I am not in the US, but since the pandemic, i have really struggled going to work. I feel comfortable working from anywhere, but not at the office.
  • @Kevin-im2ri
    I wonder why all of these news outlets look at it like the employees are doing less and walking away when instead they have been doing the job of 2 or 3 people all along. Do not blame economics on employees anymore and start blaming it on employers and staffing shortages, which is what the problem really is about. A good manager/planner would have redundancy or 2-3 people that have the same knowledge about a job criteria. That is what working effectively and efficiently is all about!
  • This is really REALLY happening everywhere around the world. People are tired of commuting and spending most of the time of their day in an office. If they can do their job perfectly from home, what's the point of making them go back to the office? There's also this very wrong belief that people are more productive at an office than at home and I think, for many people (I'm not saying all), it's entirely the opposite. People want work/life balance.
  • @batlu97
    It's all about money, pay your employees decently and proportional to their duties and they'll be loyal, give them poor work conditions and low pay and they'll give you the middle finger it's just that simple, want responses after 5?? Pay for that.
  • @k1ddish
    Amazing, you made an hour-long video with about three minutes of actual content, repeating the same three points.
  • @landi2291
    The examples of quite quitting given just sound like a healthily work / live balance. You should have your weekends to yourself and you really should not be checking emails after work 😮 unless there is a compelling reason that has been pre-arranged.