Best Practice Guide
What is the Great Resignation?
Here comes the Great Resignation, the pandemic-era labor trend sometimes known as the Great Reshuffle.
It’s another critical threat to organizations emerging from the COVID pandemic; and if you thought you could ride the wave out, think again.
Well, last year, 48 million people quit their jobs in the U.S. – easily breaking records for annual quits.
Things haven’t slowed down since.
Another milestone was hit when March 2022 data came out; this time 4.5 million workers quit their jobs, more evidence that the labor market was hot and getting hotter.
U.S. employers aren’t the only affected. The latest figures from peer economies show that the Great Resignation has gone global. Resignations have jumped in the U.K., Australia, and France, as well, according to CNN.
Last year, France saw third quarter resignations break records dating back to 2007. The Australian Government, for its part, announced that 1 million workers began new roles in the three months to November 2021 – a rate of job switching almost ten per cent higher than the pre-pandemic average.
In the U.K., the rate of employed people aged 16 to 64 moving from job-to-job was at an all-time high between October to December 2021.
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