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What Is the Great Resignation? Definition, Causes & Impact
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.jpg) June 30, 2022 | JOBS | The great resignation refers to the higher-than-usual number of employees voluntarily leaving their jobs since late 2020 and early 2021, although resignation data show that this phenomenon actually began more than a decade earlier…According to surveys created by the Pew Research Center, “low pay (63%), no opportunities for advancement (63%), and feeling disrespected at work (57%)” were the top three reasons respondents cited for leaving their jobs during this particular wave of resignations. The study also showed that younger adults and those with lower incomes quit at higher rates than older adults and those with higher incomes. So, where did all these people go after resigning from their jobs? The answer is unsurprising—they got other jobs. According to the Bureau of Labor and Statistics, the quit rate and swap rate had a correlation of close to 100 percent. Workers weren’t resigning just to resign; they were resigning in order to leverage their labor and land themselves jobs with better pay, better benefits, and more flexibility. The Street
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