The latest polls are out, and there’s some grim news for employers: The Great Resignation isn’t over yet. What is driving this phenomenon, and why are people quitting their jobs in record numbers? What can employers do to prepare for what 2022 will bring us?
What is the Great Resignation of 2021?
The Great Resignation, also known as The Big Quit, is probably already affecting your business this year. The phenomenon is driven by fed-up workers who are quitting their jobs in record numbers. The U.S. Bureau of Labor Statistics reports four million Americans quit their jobs in July 2021. By the end of the month, there were more than 10 million open jobs in every category. Who are these people that are leaving their current positions for (probably) more money or perhaps a better culture?
Harvard Business Review says that resignation rates are higher in the mid-career employee category. Those are workers between the ages of 30 and 45 years old. Interestingly, they suggest that resignations decreased in the millennial category this year. Why would this be the case? Harvard suggests that, because employees are now remote, employers are shying away from workers who have less of a job track record showing productivity. This means mid-career workers suddenly look attractive and have more opportunities to job jump.
Harvard also reports that resignations are higher in healthcare and the tech industries. They found 3.6% more healthcare workers quit their jobs than in 2020 and 4.5% more technologists quit. This is exacerbating labor shortages in these fields. When is this all going to end?
A new poll shows The Great Resignation isn’t ending anytime soon.
When Will the Great Resignation End?
A new poll shows 23% of Americans plan to quit their existing job in the next year. Why? The same poll shows 32% of these employed workers say they want better working conditions. Another 30% report they feel burnt out. There’s also a significant segment—29%—that says they’re quitting for higher pay. This new poll shows the second wave of The Great Resignation for 2022 will consist of younger workers this time between the ages of 18 and 34.
Gallup suggests The Great Resignation won’t end until employers find new ways to engage their workforce. Gallup found employees were disengaged from work because they:
- Don’t see development opportunities.
- Don’t feel connected to the mission of the company.
- Don’t have strong relationships at work.
This unusual situation requires new and effective partnerships. That’s where Exelare can help. We offer software tools to help you fill in staffing gaps. Contact us today to find out how we can shore up your workflows to combat The Great Resignation—and beyond.