The great resignation

• Today we are going to talk about the Great Resignation.

The Great Resignation is the current trend of employees voluntarily leaving their jobs, from the spring of twenty twenty-one to now, especially in the United States. The resignations have been characterized as a response to the COVID-19 pandemic : the refusal of the US government to provide the necessary protection to workers, and the stagnation of wages despite the rising cost of living.

The last several months have seen a tidal wave of resignations, in the U.S. and around the world. According to the U.S. Bureau of Labor Statistics, 4 million Americans leave their jobs in July twenty twenty-one 2021. Resignations peaked in April and have remained abnormally high for the last several months, with a record-breaking of 11 million open jobs at the end of July.

However, over 40 percent of U.S. workers are actively searching for a new job right now, or plan to soon, that's twice the rate in twenty nineteen  2019 !!!

• But do you know Who are those resigned workers?

Younger workers are more likely to say they are looking for a new job for better benefits and because they want to change careers, while older workers are looking for a better salary.

Though they have been rising for years, resignation rates were especially high in retail and hospitality. These Two sectors were badly affected by the pandemic, such as people who stopped travelling and did much of their shopping online.

• Why do they leave?

Because of several burnouts. You have to know that forty-two per cent of the US workers surveyed (Corresponded to approximately sixty eight million of people) said they were looking for a new job for a better work-life balance, among other possible factors. And high burnout was cited by 31% of employees who were asked to name issues negatively affecting their workplace.

• Domino effect

Great Resignation sets off 'vicious cycle': As more people quit, exhausted colleagues also head for the exit

More than half of US workers reported that team members had voluntarily left their organization in the past six months. Forty-two percent of respondents said they had thought more often about leaving their jobs since those colleagues left.

About 28 per cent felt more lonely or isolated at work and felt less loyal to their employer.

The departure of so many colleagues generates more work and wondering for the current employees, whether they’re earning enough to make it worthwhile. As a result, many of those more loyal staffers are bolting, too.

• So how can employers retain people in the face of this tidal wave of resignations?

Retaining employees is an objective and a process that takes place throughout their career within the company. It is now essential to retain employees. To do this, a loyalty project must be built around four axes: