The year is 2022, and people can now access jobs across continents. Remote opportunities and positions are now at the tip of our fingertips, no wonder people are quitting their jobs for better ones.
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Over the course of six months, statistics show that over 4.3 million people worldwide have quit their jobs in the United States as the trend continues in China, India, and now Africa.
Industry experts, as well as large corporations, are appalled by the numbers. The phenomenon now dawned as “the great resignation” hit an all-time high last month, with 11.5 million job openings available, and more opening up.
The data shows that a large percentage of employees quitting their jobs aren’t relocating to other sectors, rather they are finding better environments for their skills in the same sector. Industries such as management, construction, hospitality, fast food retail, and transportation are the hardest hit.
Why are people Quitting their Jobs?
Companies are being forced to reconsider positions and offer better benefits for their highly-valued employees, but higher pay and a better financial situation aren’t the only reasons people are quitting their jobs. So why are people quitting their jobs? Let’s find out
- Low pay and Job security
- Burnout and poor working environment
- Better opportunities
- Job flexibility and poor management
- High levels of innovation, low performance
Low Pay and Job security
The primary reason people quit their jobs is because of low pay. The economic shift and inflation in the last couple of months urged workers to find better opportunities and better financial needs.
The pressure intensified when the pandemic hit, as companies laid off millions of workers. Employees, as well as corporations, were forced to rethink their position, as closer proximity wasn’t an option anymore.
Since the early 90s, employees have been forced to stick with low-paying jobs due to an influx in prices, stability, and a rise in unemployment rates, now the significance of remote jobs has provided high-value employees the opportunity to seek better rewards, grow their skill as well as learn new trades in a bid for financial freedom. Because of this, companies are finding it hard to keep their staff, with other corporations offering higher benefits.
Burnout and Poor Working Environment
Productivity is a very important factor for any company. And for a company to grow, its workers must be willing to work and even put in the extra hours when needed.
However, overworking and not being compensated has resulted in a lot of employees being burnout and dissatisfied in their workplace, and the conflict between the employee and employer has soared as people continue to walk out the door.
For many people, working from home provided a sense of balance and relief, allowing for more productivity, fewer hours commuting, and more time with their family, however, with fewer signs of covid-19, people are now being forced to return to toxic working environments met with hazards and poor corporate cultures.
Diversity, equity, inclusion, and unethical behavior from workers and employers have led to low standards in working environments. Workers are being frustrated as better opportunities open up, offering better returns for their service.
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Money is motivation, and the lack of it prompts frustration, conflict, and insecurity. Rising inflation, and a coming recession, are leading workers into the job market for better pay.
The 11.27 million increase in job openings in February to the 11.52 million in March indicates people are eager to leave in search of better opportunities. With over 6.7 million jobs being filled as well as a 4.5 % increase in the last month alone, the data suggest there are no notable changes across all industries, meaning people aren’t leaving their jobs for a better one in another industry, they’re simply finding better opportunities in their area of expertise.
Many companies are now being asked to provide better payment, work situations, and alternative plans if they ever hope to be in business.
Job Flexibility and Poor Management
It’ll not come as a surprise to you that almost 50% of employees complain about bad governance or managers. Poor conduct, inability to communicate properly and a worse ethic play a huge role in workers quitting.
Most times the most productive, and intelligent workers are undermanaged and overworked by their managers, leading to less performance. This break in communication leads to less understanding, zero regards for personal preferences, offers, and even growth.
Employees now want to be recognized, appreciated, and encouraged for their skills. They need security, trust, and faith in their abilities for better performance in each sector, once these are in place employees almost never leave.
High level of innovation, low performance
A high level of innovation is what every industry seeks if they ever hope to top the market, however skilled individuals in each sector grow to provide astonishing ideas as well as improved productivity.
If such brilliance goes unnoticed, perseverance and continuity die, leading to workers quitting due to negligence and poor performance. Industries are now paying higher for such high-zealed individuals, offering better conditions and merits for their achievements.
“Your company is only as good as the people who run it”. Keeping your staff happy and comfortable creates a boom in productivity and the willingness to work.
Productivity is at an all-time high as employers are looking for jobs that favor their goals and working environment. Sectors like medicine, construction, and education have suffered the most due to “the great resignation” epidemic that’s now spreading like wildfire.
Corporations that responded poorly to the pandemic, failed and continue to fail to prioritize their employee’s health and well-being.
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Final notes on Why People are Quitting Their Jobs
The rise in the unemployment rate has increased drastically, as better opportunities are not so hard to reach anymore. Workers are leaving an unsteady environment for more stability, as credit card debt, student loans, and inflation are on the rise.
With over 41% of people looking to change jobs this year, this could only be the beginning of “the great resignation”. Are you happy at your workplace? Or do you face similar issues like these? Let us know in the comments.
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