Despite differing opinions from economists paying close attention to the recession, the Great Resignation is forging on. A new survey from the Conference Board where they spoke with 1,100 workers found that one-third of workers are still actively looking for new jobs and plan to quit their current ones.
94 percent of those surveyed who reported quitting their company in the last year have zero regrets.
“Despite worries of a recession—and the hiring slowdown and layoffs that often result from a downturn—the labor market remains strong. And this robust jobs market is continuing to empower workers,” said Rebecca Ray, PhD, Executive Vice President of Human Capital at The Conference Board in a statement. “Our survey results reveal they continue to want more flexibility and higher pay, and they’ll go elsewhere to attain these benefits. But slowing economic growth makes the decision to jump ship riskier. To retain talent, companies should work with their employees to determine to what extent they can accommodate their needs.”
Job fatigue is cited as one of the key factors driving workers out the door, particularly millennials and women.
More than one in 10 workers (11 percent) reported quitting their jobs because of being overloaded by work. A quarter of Millennials shared they made a move because of job fatigue, that’s more than twice the percentage of Baby Boomers (25% vs. 11%). What’s more, 25% of women quit because of job fatigue, compared to just 13% of men.
“Employees are voting with their feet to gain flexibility. But with flexibility must come boundaries,” said Robin Erickson, PhD, Vice President of Human Capital, The Conference Board in a statement. “Combine the ability to work any time with heavier workloads as colleagues resign amid the Great Resignation, and it’s no surprise we’ve seen a severe increase in employees who are overwhelmed at work. And now, this survey reveals that more than one in 10 are quitting because of it. Managers should regularly monitor their employees’ workload to ensure it is manageable.”
More information can be found at ConferenceBoard.org.
