It speaks to the level of concern within the business world, that the term ‘the Great Resignation’ has penetrated every aspect of society.
It’s impossible to pick up a newspaper or turn on the radio, without hearing about this strange phenomenon, born out of the darkest days of the COVID pandemic, when workers were perhaps considering their own mortality and thus, how they spend the precious time they have left on this planet.
When the term swiftly rose to prominence in May of 2021, the data that followed prophesised that 2022 would be an apocalyptic year for businesses. Microsoft’s 2021 Work Trend Index claimed that a whopping 41% of the workforce would quit their jobs within the year - a number that rose to 54% when talking about younger generations such as Gen Z.
And, for the most part, this prophecy came true. Shortages plagued most industries, with tech, hospitality and the service industry visibly feeling the hit. In every town and city across the nation, ‘Help Wanted’ signs became a common sight, whilst businesses routinely asked customers to ‘bear with us, due to staff shortages’.
Over a year later, we’re still constantly seeing headlines about the Great Resignation. Why? Because according to new data, it’s far from over. Some workers claim that the core issues that prompted the phenomenon haven’t been solved, causing continued disruption.
For example, recent Microsoft data claims that 37% of the global workforce think their companies are still asking too much of them. One in five believe that their work-life balance isn’t important to their leaders. 54% feel constantly overworked, and on the verge of burnout.
The bottom line of these continuing trends is that some industries show no signs of recovering any time soon. Pew Research states that the service industry in 2022 is still under crippling pressure. Roles such as dishwashers, truck drivers, retail workers, food servers, airport workers, home health aides and similar, continue to elude their employers.
There's still 53% of the article to go - plus lots more!
Subscribe for free* to continue reading...
Join our growing community of forward thinking HR leaders and get unlimited access to the full archive, as well as exclusive reports, how-tos, deep dives, and video interviews.