Workers resigning at astronomical rates
Texas A&M professor Anthony Klotz first coined the term “The Great Resignation” to describe a mass leave from the workforce during 2021 in the aftermath of the pandemic. The US Department of Labor reports in April, May, and June of this year indicate that between 11 to 12 million workers left their job, and many studies indicate that this is most likely not over.
Microsoft recently researched this same phenomenon in order to explain sudden leaves of absence within the workforce, and found that around 38 percent of the workforce are considering quitting their job in search of higher paying jobs with respectful leaders. 54 percent of Gen Z alone are considering a new job. 41 percent of the entire workforce is considering quitting.
Although many large corporations can survive after a third of their workers cause a turnover, many small and medium businesses face drastic effects. It can be noted that many small enterprises are found to be running with departments with one worker as a result of this phenomenon. Small businesses are able to survive with minimal workers within departments, however acquiring new workers whilst old workers are leaving can be tough for even large corporations especially in a post-pandemic setting.
The most prevalent issues behind “The Great Resignation” are a result of COVID-19, leading companies to shut down or force their workers to work from home. Surveys by “The Wall Street Journal” indicates that the pandemic allowed workers to rethink their work situation and points at stress and burnout as a major factor for resignation.
