A new study conducted by Wallethub gives insights into the who, what and why of the recent phenomenon known as “the Great Resignation.” This research reveals that Georgia ranks as the U.S. state with the 2nd highest number of employee resignations so far in 2023.
The researchers determined that resignations have largely been undeterred by high inflation and that many of the affected workers have enjoyed significant leverage when applying for new jobs.
Why are so many workers quitting their jobs despite recession concerns?
Workers who have quit their jobs recently seem to be motivated by a few different factors.
The opportunity for better wages and job perks
Some workers are being lured away by better incentives offered by other employers. Dana Peterson at CNN explains that workers are abandoning lower-paying jobs in favor of switching to positions that offer them higher wages.
A desire to move away from jobs affected by the pandemic
Sizable numbers of workers have also fled from jobs that were significantly impacted by COVID-19 or other safety issues. Although many workplaces have reopened, some workers continue to be concerned about COVID-19 variants.
However, scientists have suggested that COVID-19 rates are now approaching endemic levels, which means that, going forward, the virus is likely to be perceived as less of a threat to workers who deal with the public.
A desire for a better, more flexible work environment
Other pressing employee concerns at present include the following:
- Substandard management
- An insufficient work-life balance
According to Pew Research, employees also quit jobs because they felt disrespected or they were worried about a lack of opportunities for future advancement. Childcare conflicts have also played a significant role in driving job resignations.
Which industries are experiencing the most worker resignations?
According to MIT’s Sloane Management Review, workers in the apparel retail sector are spearheading the Great Resignation, with a whopping 19% attrition rate measured during the time period spanning from April through September of 2021.
Other sectors that experienced high employee turnover during that time frame include:
- Management consulting
- Internet services
- Enterprise software
- Fast food services
- Specialty retail
- Research hospitals
Which demographics of workers have been most likely to quit their jobs?
According to Pew Research, education levels have influenced employees’ willingness to quit a job. Employees who do not hold college degrees have been more willing to quit due to varying reasons such as the following:
- A lack of scheduling flexibility
- Not being offered enough hours on the clock
- Employer pressure to get a COVID-19 vaccine
Younger people and people of color were also more likely to quit their jobs to pursue better opportunities.
Strategies to retain employees in the face of the Great Resignation
Employers seeking to reduce turnover rates are advised to consider improving compensation packages to the greatest extent possible. Many star performers can be retained if companies offer them better wages and benefits. College tuition reimbursement is another incentive employers can offer in hopes of retaining valued employees.
Additionally, some workers have been forced to quit their jobs because childcare costs have risen to the point of becoming prohibitively expensive. Employers may be able to retain similarly affected employees or attract lost workers back to the office by offering on-site daycare services or allowing employees to work from home.
Work-life balance is also a top consideration for most employees, even ones who aren’t parents. In many cases, employers can retain their workers by offering flexible work options, encouraging employees to take time off and use their vacation time to recharge and avoid burnout, and offering wellness programs such as yoga classes, mindfulness training, or health and fitness challenges to promote physical and mental well-being.
Contact a Georgia workers’ compensation attorney
At Gerber & Holder Workers’ Compensation Attorneys, we believe all workers are entitled to a safe and healthy work environment. If you’ve suffered an on-the-job illness or injury in Atlanta, contact our experienced workers’ compensation attorneys for help with your claim.
Our attorneys have over 75 years of combined experience helping injured workers across Georgia recover the compensation they deserve.