Why people are really leaving their jobs during the Great Resignation?
More than 1,000 people were surveyed who left their jobs during the pandemic to find out why
By Mark Dent, The Hustle
The Great Resignation has been the economic buzzword of the pandemic.
The share of workers voluntarily leaving their jobs escalated from a fairly typical 2.3% in January 2021 to new record highs of 2.8% last April, 2.9% in September, and 3.0% in December, per Federal Reserve data.
The “quits” rate hasn’t cooled much since, either. It was at 2.8% in January, the most recent month for data.
That’s 4.3m American workers leaving their jobs in one month.
Theories have abounded for why resignations have grown so prevalent.
The bump in these numbers has been attributed to burnout, a desire to switch careers, and the rise of the “antiwork” movement, which questions the status quo of modern employment. (The r/antiwork subreddit jumped from ~100k members at the start of the pandemic to ~1.8m as of March 2022.)
Some analysts have settled on the Great Renegotiation as a more accurate moniker for the situation because most people leaving their jobs have jumped to greener pastures at another employer.
But why are so many people really leaving their jobs? And what are they doing afterward?
The Hustlesurveyed~1.1k people who left jobs during the pandemic and found a variety of reasons for why they resigned and where they ended up after their resignations.
Among the findings:
~27% of respondents left because they found a job with better pay. That reason was followed by finding a more rewarding job (~17%), burnout (~17%), pursuing a new career path (10%), lack of flexible work atmosphere (8%), and starting a business (6%).
Burnout afflicted people of all professions. Respondents in the service-industry and blue-collar sectors were about as likely to say they were burned out as people in white-collar industries.
64% of respondents switched to a new job immediately, and 83% of them made more money at their new job.
The Great Resignation,
Why did so many people quit their work during the pandemic? Why is it called the great resignation?