The Great Resignation May Be a Thing. Here’s What We Really Know.

in business, Data, Featured, Uncategorized, Wellbeing

 

The word "job" going out the doorThe data is starting to support the hype about The Great Resignation.

Don’t be too awed by media reports of “record-breaking” resignations. Record-breaking quit rates were entirely predictable based on their upward trajectory over the last 10 years. What changed was a steep drop in those rates early in the pandemic. Data released today (November 12, 2021) shows a rate (indeed, record-breaking) of 3.0% for September and, yes, this trend looks to be ramping up.

Until now, we’ve known only that there’s been a Great Compression of Resignations — an inordinate amount of resignations in a short period of time. It’s a distinction of little consequence to employers, as they still have the operational hardship of a surge in people heading for the door, regardless of whether it’s a new trend or simply a snapback following the unexpected freefall of resignations that occurred at the outset of the pandemic. Continue reading »