Is the Great Resignation Just a U.S. Thing?
The pandemic quite literally changed the way people live and work. From “zooming” to hanging with your “quaranteam,” employers learned new ways to work with their employees. Nowadays though, companies are dealing with a new obstacle: the Great Resignation. What exactly is happening with the Great Resignation though, and is it just a U.S. phenomenon?
What is the Great Resignation and Why is it Happening?
According to CNN, the Great Resignation is a high number of people quitting their jobs for numerous reasons. Many employees are realizing that they’re not satisfied with their job after working through the pandemic. They’re quitting in search of higher pay, greater managerial treatment, more flexible schedules, and better benefits.
CNBC noted that 4.35 million workers left this past February and 6.27 million were counted as unemployed. In addition, there are 11.27 million job openings left. This leaves a huge discrepancy, with estimates that there are 1.8 jobs for every one person unemployed. Education and health services had the highest levels of job openings, followed by professional and business services and finally, trade, transportation, and utilities.
Is the Great Resignation Just Happening in the U.S.?
While not as stark as the U.S., employers around the world are also experiencing the effects of the Great Resignation. Quit rates have jumped in countries like the United Kingdom, Australia, and France, and surveys have shown that Germans, Japanese, and Singaporeans are thinking about leaving their jobs in the next few months. Similarly, LinkedIn data this past January showed that people in Spain, the Netherlands, and Italy were looking to switch industries.
Some would argue that other countries handled the pandemic better (testing out more flexible work days and higher pay), but many of the same issues that U.S. employees are feeling are taking hold across the world too. A lot of employees cited burnout, a lower salary, and wanting to find a company that aligns more with their values as reasons for wanting to leave. Tony Wilson, director of the Institute for Employment Studies, thinks that the Great Resignation won’t hit other countries as hard, but it’s still something that is on the minds of employees around the globe and offers potential opportunities for career happiness. As Patrecia Ming Buckley, a Sydney-based employee, said:
“I don’t think people woke up one day and were super unhappy with their jobs. I think it’s been building for years and years and years.”
Despite what the Great Resignation might mean for employers, there are still job seekers out there who are looking for their perfect job. As a globalized talent acquisition firm, Signature Source vets best employees for your company. Start by contacting us on our website or by calling 1-888-613-4179.