2021 has been dubbed the year of the great resignation. In the UK, the Bureau of Labor Statistics said that ‘quitting’ hit a record high in September 2021 with over 4.4 million people leaving their jobs. In the US, even the looming threat of a recession hasn’t deterred workers from moving on, according to Bloomberg, over 4.4 million Americans quit their jobs last April – a 22-year high. Changing attitudes in the workplace and rising employee expectations are a major by-product of the post-covid era, but it doesn’t necessarily mean that this trend should be something to be worried or upset about. If anything, for an industry as conservative and traditional as yachting, a sudden mass exodus of conventional and old-fashioned habits should be something to celebrate rather than mourn.

Firstly, I think there is an immediate upside to this economic trend. The pandemic ignited a spark in the lives of many UHNWIs who had grown accustomed to the monotony of a workaholic lifestyle. It made people consider what they want out of their lives, and it provided a kick up the backside for all the multimillionaires who were deciding to spend their time sitting in boardroom meetings when they could have been on the aft deck of a superyacht. For that reason alone, the superyacht industry will be hoping that this trend doesn’t start to dwindle.

In the last couple of years, young people in yachting have given themselves a much bigger voice, and they have been able to use their social media skills to drown out the noise of those who represent a by-gone era. By shifting the conversation, and amplifying the ideas and ethics of neighbouring industries, the people at the bottom of the pyramid (so to speak) have forced the people at the top to reconsider their stance regarding important issues such as mental health, diversity and inclusion, and sustainability. The significance of this will surely become more apparent in the coming years as the younger generations start working their way up the ladder and filling the shoes of the departed.

Indeed, the great resignation isn’t all about older generations being replaced by the younger generation – in fact, it’s people between the age of 20 and 40 who are mostly jumping on the resignation train. And yet, I still think that it’s possible to…