The last couple of years in the job market have been crazy, to say the least. There was the pandemic and everything associated with it. More recently, there is a candidate-driven market and a worker shortage, accompanied by what is known as the “Great Resignation.”

As we enter the fourth quarter of 2022, it might be tempting to believe that the Great Resignation is over. However, that would be a mistake. Despite headlines alluding to a possible recession sometime in the next 12 months, the Great Resignation is still occurring.

The Great Resignation is an ongoing phenomenon whereas workers voluntarily leave their jobs in unprecedented numbers. It began in late 2020 and early 2021, right around the time the lockdowns from the pandemic were being lifted.

At that time, people began to have a much different attitude about their job and work and the role that they play within their life. In short, many decided that they didn’t want their life to be consumed by work.

There was another group of people who did not necessarily like their employer or like to work for their employer. In light of the pandemic, they were of the opinion that life is too short to be working in a job you don’t like for an employer that you like even less.

So they quit. Some did not even have another job waiting for them.

Overall, the quit rate in the United States nearly doubled, which was a historic figure. During 2021, almost 48 million workers quit their job. That’s an average of about 4 million workers per month. As of right now, that’s a record.

Since you might not have heard as much about the Great Resignation this year, you might be under the impression that it’s over. Or at the very least, that it’s waning. But that is not the case, certainly not through the first half of 2022.

According to the Bureau of Labor Statistics, the country has averaged four million quits per month through June of this year. That puts it roughly on track with the same number of quits we had last year. And there is the very real possibility that there might be more quits in 2022 than there were in 2021, which would be at least a mild surprise to a majority of people.

So what can you, as an employer, do to combat the ongoing phenomenon known as the Great Resignation? Below are five action steps:

  1. Show employees that their efforts are appreciated and valued.
  2. Treat them with respect.
  3. Practice transparency as an organization.
  4. Model and enforce accountability.
  5. Build trust.

There are still almost three months left in the year. That’s plenty of time for another 12 million workers to quit their jobs.

Focus on retention now and doing everything you can to ensure that none of those 12 million are from your company!

By | 2022-10-14T19:09:49+00:00 October 5th, 2022|Hiring|0 Comments

Leave A Comment