Why Are Workers Quitting Their Jobs en Masse?
“Why Are So Many Workers Quitting Their Jobs After the Pandemic?” by Elizabeth Mckenzie
The pandemic showed that labour systems are neither rigid nor static. Society and the economy are constantly changing. 2021 has marked a change in the American job market. The pandemic, the slow economic recovery, and the spontaneous increase in wages have created a labour phenomenon not seen for decades in the country.
According to an analysis by El País, in the United States, there are approximately 75 unemployed workers for every 100 vacancies, the lowest figure in the last 20 years. Therefore, if you are thinking about leaving your current job and are looking for a better career opportunity, we invite you to read this article. In the paragraphs below, you will learn the reasons for mass resignations and why people change their careers.
Facts Behind the “Great Resignation”
COVID-19 is responsible for a historic event in the United States: the Great Resignation. This phenomenon stems from many consequences, logistical problems, and global trends. Let’s check them out!
Mass Exodus in Key Sectors
The bottlenecks in the global supply chain have paralysed the flow of work in the logistics operations of thousands of workers in strategic sectors of the country. Many retail and transportation workers have decided to quit due to a shortage of merchandise and slow market movement.
Lack of Workforce
Labour shortages, caused by logistical delays in world trade and international freight transport, have motivated many people to leave their jobs. If we look at the statistics of all the people who quit, almost one million had worked in the leisure and catering field, 863,000 in the accommodation industry, and 706,000 as tradespeople.
Higher Salaries in Other Jobs
According to The Washington Post, Americans are experiencing the biggest wage increase in more than a decade. While companies want to overcome the tight labour market and high inflation crisis, wages show adjustments from $15 to $25 per hour. According to the Conference Board report, businesses expect to create an average salary increase of 3.9% in 2022.
Perks of Getting Better Job Opportunities Amid the Great Resignation Crisis
- Competitive Salaries: The Bureau of Labour Statistics reported an inflation rate of 6.1 in November 2021. This phenomenon explains the wage increase, starting at $14 per hour. With these adjustments as a private sector initiative, workers and consumers can improve their income, savings, and standard of living.
- Flexible Hours: This is one of the main requirements of the Great Resignation in the United States. Many employers are adjusting their work schedules to increase production through flexible systems.
- Personal and Financial Stability: Accepting a new job offer is an excellent opportunity to obtain more generous benefits and better working conditions. With a well-paying job, you’ll have the peace of mind of covering increased expenses and a productive routine despite COVID-19 restrictions.
How Can an Employer Retain Outstanding Talent?
If you are an employer or a human resources manager, you can apply several strategies to avoid massive resignations in your company. The first step is to integrate scheduling flexibility into your compensation. Give your employees the necessary time to relax in their workweek, including vacations, medical consultations, and rest.
Another critical aspect is to offer job training and constant updating. Training and education increase efficiency. Many workers choose companies that invest in certificate programs. Depending on the role, you can consider higher education such as online coding bootcamps, which will help your employees update current tech industry skills.
Also, it would be best if you never ruled out the home office. Instead, adapt the company’s work scheme to modern times.
All is not lost if you decide to quit your job and follow the path of millions who are participated in the Great Resignation due to the crisis and current restrictions. The entire economy changes and adapts to circumstances. Your decision can be an important step for your future. Choose correctly, think about your well-being for the future, and overcome the great resignation in 2022.