#YourCareer : The Great Resignation. Survey: 55% of Americans Indicated they were Likely to Look for a New Job in the Next 12 Months. Great REad!
You have probably heard the term – “The Great Resignation” (credited to Texas A&M University professor Anthony Klotz). Awareness of this phenomenon didn’t start during the COVID pandemic in 2020, but the virus did have a part in exacerbating the voluntary unemployment numbers. About 22 million jobs were lost in March of 2020 during the lockdown.
The US Bureau of Labor Statistics (USBLS) noted unemployment rates have stabilized to about the same as before the COVID quarantine, while the number of job openings is parallel at about 10.4 million in August of 2021. The (volunteer; non-farm) resignation rates had a low in 2009 at 1.2%, but over the last 8-11 years have reached a rate of 3% (as of September 2021), according to the USBLS. That is 4.4 million workers voluntarily leaving their jobs – the highest since the USBLS has been keeping records of ‘quit’ rates. Almost 24 million workers have voluntarily left their employers since April 2020.
Is this a sign of a failing economy – or – a sign that workers are searching for a higher quality workplace environment, better pay, and/or growing workers’ ‘power to choose’ their employer of choice? What has changed outside the COVID pandemic effects, especially since vaccinations have been available to the general public over the last nine months? Was the trend already there and hidden by the ‘stay at home and prevent the spread’ government advisory?
A survey conducted by Bankrate (July 2021) found 55% of Americans indicated they were likely to look for a new job in the next 12 months. A January 2021 Microsoft international survey found more than 40% of workers are likely to job shop in the next year, and a May 2021 survey by Prudential concluded 48% were seriously considering what type of job they wanted.
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Did the COVID quarantine exacerbate the joblessness? Or did the pandemic force workers to reconsider their careers, employers, and the work environment? Did work at home employees during the quarantine decide they preferred to telecommute? Were essential workers ‘overworked’ with staff shortages?
These elements and questions are one of the foundation elements of why the ‘quit rate’ is increasing. Worker burnout prompted people to seek a better work-life balance in positions. Employers who demanded employees come ‘back to work’ after the telecommute situation proved effective found workers are searching for new telecommute-based jobs. Fear of the virus for those who refused or could not take the vaccine prompted workers to seek more ‘work-at-home’ jobs. The pandemic and resulting quarantine prompted workers to rethink priorities, including personal and work-life balances. Employers who mistreated the workers or failed to enable a comfortable, rewarding environment, matching ethical values, or better compensation, benefits, or promotional opportunities were the first to see employees quit.
Employers are rethinking what they need to offer to new hires in working conditions, compensation, flexible scheduling, or telecommute opportunities. The service industry was the hardest hit, with 5.3-5.5% resignations in June 2021. Meanwhile, the United States Postal Service is attempting to fill 40,000 temp worker positions for the upcoming holidays (Nov.-Dec. 2021). The federal mandate for COVID vaccines for health care and government (as well as government contractor) workers by the current administration will add to the unemployment rates and create even more job openings. State mandates for teachers and state workers will force those with acquired immunity to the disease and anti-vaxxers to be laid off, with massive worker shortages resulting in the medical and academic fields.
The COVID quarantine taught people, globally, what they could live with and without. The pandemic has caused folks to rethink their priorities. The massive number of newly created or current job openings is making workers seriously consider looking for new jobs with opportunities that match their work-life balance, commute needs, and promotional goals – as well as vaccine requirements. The COVID-related labor market will continue to drive people to quit their current jobs to explore better opportunities for years to come.
FSC Career Blog Author: Dawn Boyer, Ph.D., owner of D. Boyer Consulting – provides resume writing, editing, publishing, and print-on-demand consulting. Reach her at: Dawn.Boyer@me.com or visit her website at www.dboyerconsulting.com.
Bio: Dawn D. Boyer, Ph.D., has been an entrepreneur and business owner for 20+ years, with a successful business and consulting firm (CEO) in Virginia Beach, Norfolk, Richmond, Colonial Beach, and Gloucester, VA. Her background experience is 24+ years in the Human Resources field, of which 12+ years are within the Federal & Defense Contracting industry. She is the author of 903+ books on business, human resources research, career search practice, women and gender study, genealogy and family lineages, quotes for motivation and self-improvement, and Adult Coloring Books. Her books can be found on Amazon.com under her author’s page for Dawn D. Boyer, Ph.D.
FSC Career Blog – November 17, 2021
