47.8 million U.S. workers – that’s how many voluntarily quit their jobs in 2021.
The COVID-19 pandemic disrupted our lives in many different ways, but most notably gave way to what we now know as the Great Resignation. The nation’s “quit rate” reached a 20-year high in November 2021.
While we were all made fully aware of this ongoing economic trend, many people were left wondering the “why’s” behind the movement. With over 20 years of experience working side by side many different types of businesses facing a common problem – low employee engagement- our MCDA CCG team were gradually able to uncover the real things employees care about. Using this knowledge, our team of business experts have been able make dramatic improvements in many different company cultures, helping owners retain their talent and prevent high turnover.
And a new Pew Research Center survey helps corroborate our message by finding the following to be the top reasons Americans quit their jobs last year:
- Low Pay
- Lack of Opportunities for advancement
- Feeling Disrespected at work
Other reasons included childcare issues (48%), lack of flexibility (45%), poor benefits (43%), relocation (35%), and excessive hours (39%). The article also offers insights into differences by race, education, and age.
You can find more statistics in the article here: Majority of workers who quit a job in 2021 cite low pay, no opportunities for advancement, feeling disrespected
The results of this survey can be useful for business owners and managers in understanding the dynamics at play in this time of turmoil for many of our teams. It can be helpful in retaining and hiring talent at all levels.
Remember that these days it’s no longer an employer’s market. Employees don’t want to work for companies that don’t respect their values and treat them like real people. The good news is that employers can do something about it. You can strengthen your retention and build a culture that reflects the values employees will continue to look for.
And when you need help, our team has the proven resources, tools and training to guide you along the way.
Miss of any this week’s content? Find them here:
Why Businesses Should Be Concerned About Cybersecurity Amid Russia-Ukraine News
6 Common Cybersecurity Mistakes You May Be Making
How To Keep Your Business Secure from Every Angle
What Does Business Insurance Cover?
Other Resources you may like:
How to Resign When Working from Home
Why Every Business Needs an HR Compliance Audit
7 Must Watch Leadership Movies to Learn From
Remote Employee Performance Reviews: Do’s and Don’ts
Pingback: Six Things to Consider When Starting a Business That Will Last – MCDA CCG, Inc – Business Blog
Pingback: What Does it Mean to Be HR Compliant? – MCDA CCG, Inc – Business Blog