“Now, it feels like a slap’’

Does it feel like no one wants to work? This is a summary, stemming from a “big resignation” when many people voluntarily left their jobs during the pandemic.

Finance teacher Vincent Chan This topic is discussed in more depth and three reasons why no one wants to work. He uses historical data to verify his views while showing grim pictures of modern work experience.

"Now, it feels like a slap," he said.

How did things get to this point? These are three reasons why Chan has highlighted in the video.

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Chan starts his video by revealing the big lie that hard work pays off. While hard work has paid off in various situations, people don’t always see this in the workplace. Chan explains how a non-productive colleague was promoted because he was an old family friend of the boss. These types of promotions can cause hard workers to feel frustrated and not recognize their efforts.

Although these types of office politics have always existed, Chan also provides a chart showing the growing gap between worker productivity and wage growth. Both indicators were unified in 1979. People have been working hard since that year, but no longer paying off for it.

Boomers worked in an era Chan called "the golden age of workers" and people were paid for their efforts. There is no gap between productivity and wage growth today. This rising gap and promotion depends more on the people you know than what you can do, which adversely puts extra effort in many workplaces.

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Chen also sees the toxic working environment as a key reason why most people no longer work. These environments can cause mental health problems and burnout, which makes you question why you work in the first place.

Chan cited the discussion with Squarespace's CMO, saying Gen Z job seekers should be willing to work for a long time for free. There is nothing healthy about working long hours and not paying them.

While most people get paid during working hours, it’s still easy to go far beyond the minimum. Chan cited the fear of losing his job and his desire for promotion, two reasons why people work more time. We can use smartphones, desktops and tablets wherever we go, which makes connecting to off-duty even harder.

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Money is one of the most powerful motivations. It can inspire people to work harder and be cautious in supporting work they don’t like. However, this motivational force disappointed young workers.

Even though they make more money on paper than their parents, many of them are still working to pay off student loans or buy a home. Meanwhile, Chan claims that older generations are able to make these major purchases at a minimum wage.

He goes on to explain that things are getting more expensive and you won't get more rewards. The cost of a booming index highlights Chan's point of view. He mentioned that in 1985, typical male wages would pay the average major expenditure within 30 weeks.

But the thriving index costs suggest that a typical male worker must work 53 weeks a year to pay the average major expense. There aren't 53 weeks of the year, and many people have to work overtime or be busy trying to make a living.

Chan mentioned the 53-week figures come from 2018 and assumed that the cost of thriving indexes has become worse since then. If people keep working but see basic expenses become unreasonable, it's no wonder some of them are throwing towels.

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This article Vincent Chan discusses three reasons why no one wants to work: “Now, it feels like a slap, initially appeared on benzinga.com.