The ‘Great Resignation’ is Picking Up Steam

2002
0

It’s Monday. Are you planning to quit your job today?

If not, you might be the only one. That’s because, according to a new study by Monster.com, as many as 95% of workers are considering changing jobs this year, and all-time high.

Why?

Call it the “post-pandemic re-evaluation.” Rather than head back into the office as companies open up again and resume working life as normal, more and more people are just saying no. Sometimes it’s because priorities have shifted after 2020. Sometimes it’s because workers are looking to move up and increase their income this year. And sometimes it’s just because they’re burned out and don’t want to go back to what they were doing before.


Whatever the case, the “Great Resignation” is underway and it might just become the most important economic story of 2021.

By the numbers:

  • In addition to the 95% of workers now considering changing jobs, 92% are even willing to switch industries to find the right position.
  • A record 4 million people quit their jobs in April alone.
  • At the same time, there are more opportunities than ever for those looking to move, with 9.3 million jobs available according to the Labor Department’s latest count.

Quote: “When we were in the throes of the pandemic, so many people buckled down, now what we’re seeing is a sign of confidence. The number of open jobs is higher than ever before, that’s absolutely contributing to why candidates are putting their toe in the water to see what’s out there.” — Scott Blumsack, senior vice president of research and insights at Monster.

What can employers do?

On the flipside, those companies that need help or want to keep their current workers are getting creative. Employees hold the upper hand for the first time in decades so employers are raising wages, offering flexible schedules and instituting long-term work-from-home plans across dozens of different industries.

For instance, according to a new study from staffing firm LaSalle Network, 70% of corporate human resources departments plan to have employees back in the office by this fall. But, at the same time, 90% of organizations plan to combine both remote and on-site work as part of their plans going forward. Changing times indeed.

Previous articleWhat Pres. Biden’s Latest Executive Order Means for Your Money
Next articleHow to Be a Smarter Consumer in an Inflationary Environment

LEAVE A REPLY

Please enter your comment!
Please enter your name here