Unemployment Decreasing but Workers Resigning still Rising

As the economy enters the second quarter, ‘the great resignation’ is still going strong, despite falling jobless claims and the pandemic appearing less of a concern for companies, employees, and lawmakers. 

Increased benefits, hybrid or totally remote work choices, and even switching to a four-day workweek have all been tried as ways to entice people back to the workplace. 

The ‘Great Resignation’ exemplifies how employees are increasingly asking themselves, “Why should I work here?” Why should I devote so much of my time and energy to this job and company?” And the bad news is that the answer isn’t pretty for many people. They see their work as a dreaded chore. 

“Even though most work has shifted away from backbreaking or mind-numbing labor toward less physically demanding, more agile and creative work, the view of work as a necessary evil remains common,” says Hubert Joly. 

Nonetheless, a new survey by Randstad, a Dutch staffing firm, indicated that “the great resignation” isn’t going away anytime soon, and it extends well beyond the United States. Randstad surveyed nearly 35,000 employees in 34 regions across Europe, Asia Pacific, and the Americas. 

Sander van ‘t Noordende, CEO and Chair of the Executive Board at Randstad, stated that “There’s a clear power shift underway, as people rethink priorities. Businesses need to rethink their approach to attracting and retaining staff, or face serious competition”. 

Workers Resigning Still Rising

In response to the increased rivalry for talent, Wall Street has increased bonuses and wages for employees. Four-day workweeks have been piloted in some parts of the world, but they have been less frequent in the United States, albeit as ‘the great resignation’ continues, more American employers are coming around to the notion. 

Millennials and Gen-Z workers are the most likely to participate in ‘the great resignation,’ with those under 35 being significantly more likely to leave if their jobs prevent them from enjoying life. 

More than half of Millennials and Generation Z respondents said they would quit their work if it prohibited them from enjoying life. Only about a third of those who identified as Boomers agreed. 

“At a time when talent scarcity is a problem for so many companies,” the poll stated, “failure to satisfy the demands of an educated workforce can be fatal for organizations looking for the best individuals.” 

According to the survey, the pandemic hasn’t diminished people’s professional aspirations. People still want to be part of the workforce and thrive at their jobs, but they also understand what they require from an employer to achieve personal and professional success. 

Nearly 4.4 million people quit their jobs in February – the 3rd highest number ever recorded. This is another sign of how Americans want better jobs and better opportunities to improve their lives. No more crappy jobs, dealing with rude co-workers and managers.  

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