The past two years have seen the most dramatic shift in the labor market in at least a century, or maybe ever. But now, the U.S. is facing a very different labor crisis: the Great Resignation, says Fast Company’s Kathleen Davis.
And you’re not alone. School leaders can certainly relate to the sense of wanting to change environments after 18 months of stress!
A recent study by Microsoft found that 41% of the global workforce would consider leaving their current employer within the next year. And a poll from employment firm Monster found that 95% of workers are at least contemplating a job change.
How big is the problem really?
The national quit rate dropped by half a percent in the spring of 2020. If you had a job then, you were likely hanging on tight in the face of so much uncertainty. In 2021 however, the quit rate shot back up — and then some — with around 10 million people quitting their jobs by July 2021.
Although labor shortages in the service industry might be the most visible, tech and health care have actually seen the most people quit in the last few months, and burnout has been one of the driving reasons.
As for the other reasons? While lack of childcare options and low wages are at the heart of many job vacancies, the other reasons people are quitting en masse are the same reasons people have always left their jobs: lack of flexibility and lack of opportunity — meaning, lack of work-life balance.
The pandemic has caused a lot of us to refocus and reevaluate our priorities, and the old adage, “You don’t quit a job, you quit a manager,” has never been more true. If leaders want to hold onto their employees, they should listen closely to what they need to survive and thrive in the long run.