This resource will address some thought-provoking Great Resignation statistics that may explain more about why this is happening.
What Is the Great Resignation?
In 2019, a professor from the Texas A&M University, Anthony C. Klotz coined the phrase, “The Great Resignation”.
The reason for this term is because he foretold of this massive workers’ resignation post-pandemic, citing burnout and remote working as triggers in workers’ identities.
This may not be what you think.
Once workers experienced how flexible their jobs could be, and how much working from home offered an enhanced work-life balance, many people became aware of the fact that they were more than just their jobs.
This awakening resulted in this huge Great Resignation.
Key Statistics
- A meager 20% of the world’s workforce is engaged at work.
- 94% of American Retailers are experiencing issues with managing job vacancies.
- 55% of workers in America are planning on looking for new jobs.
- Gen Z-ers are the group that feel the least appreciated and underpaid.
- 41% of the global workforce is considering quitting their jobs.
- Relocation is the new plan for 46% of the world’s workforce.
Detailed Great Resignation Statistics
As of January 2022, the statistics show that a record 4.5 million Americans have quit their jobs.
It seems that the Great Resignation is on an historic path as compared to past reports by the Bureau of Labor Statistics.
1. A Meager 20% of The World’s Workforce Is Engaged at Work.
Most people in today’s workforce are either disengaged or do the bare minimum work to maintain their jobs. The global statistic is 20%, but sadly, it’s higher in Canada and America at 34%.
This is an issue because they are overly stressed and unhappy with their work. It also requires more than just a 20% raise in pay to attract an engaged worker.
2. 94% of American Retailers Are Experiencing Issues with Managing Job Vacancies.
According to a 2021 survey of leading American retailers by Korn Ferry, the findings showed that 94% of major retailers in the US are experiencing challenges in filling jobs.
Here are more statistics about the level of challenges facing US retailers in filling jobs.
- 6% are not having any difficulties
- 32% are having minor issues
- 29% are experiencing moderate challenges
- 32% are experiencing major difficulties.
Even with utilizing normally effective referral programs, more frequent pay raises, and substantial sign-on bonuses, these retailers are still finding it difficult to find workers.
3. 55% of Workers in America Are Planning on Looking for New Jobs.
Looking forward, 55% of American workers plan to seek other employment within 12 months.
This figure is distressing with over half of the whole workforce in the nation involved.
The most impacted people in the statistic includes lower income workers, young people, and minorities.
These are further stats about the Great Resignation in this segment:
- 77% of Gen Z-ers, along with 63% of Millennials say they are planning to change jobs within the next year.
- 72% of employees making less than $30,000 annually plan to seek new employment over the next year.
- 70% of African Americans plan to find new employment over the next year.
- 67% of Hispanic Americans say they will look for a new job within the year.
- 47% of Caucasians say they will be looking for new jobs in the next 12 months.
- 44% of people earning $80,000 and more plan to switch jobs.
- 33% of Baby Boomers plan to switch jobs in the next year.
4. Gen Z-ers Are the Group that Feel the Least Appreciated and Underpaid.
It’s the Gen Z generation that appears to feel they are the most underpaid and underappreciated workers during this Great Resignation.
This is evident by the above stats that reveal Gen Z-ers (those born between 1997 and 2012) account for the highest percentage of workers looking to change jobs over the next year.
As careers go, the past year was an extremely challenging time for this generation. They are more susceptible to being underpaid, under appreciated, and overworked.
This is how the full spectrum of generations working right now looks in this struggle.
- 14% of Gen Z-ers say they struggle to come up with new ideas, 16% claim they struggle to be heard in meetings, and another 16% say they aren’t excited or engaged at work.
- 11% of Millennials report that they struggle to come up with new ideas, 12% have difficulties being heard in meetings, and 14% aren’t excited about work, nor do they feel engaged.
- 11% of Gen X-ers declare that they feel challenged about bringing new ideas to the table, 11% of this generation struggles to be heard in meetings, and 12% say they aren’t engaged or excited at work.
- 9% of Baby Boomers state that they struggle coming up with new ideas, 9% struggle to feel heard in meetings, and 12% aren’t engaged or excited at work.
5. 41% of The Global Workforce Are Considering Quitting Their Jobs.
A survey of more than 30,000 employees in 31 countries shows that 41% of workers are thinking about leaving their existing jobs.
Work burnout, shift times, job dissatisfaction, and personal safety are the reasons cited among these workers.
74% of respondents from a LinkedIn survey said that spending time at home during the COVID-19 lockdowns resulted in rethinking their current work environments.
Those who sheltered in their jobs are now seeking better job opportunities.
This new mindset has resulted in companies losing a large portion of their workforce which has impacted worker turnover and lack of productivity.
Employers should now revisit a new strategy that includes better ways of investing in their workers in terms of well-being, opportunities, and wages.
6. Relocation Is the New Plan for 46% of The World’s Workforce.
The abrupt move to working from home resulted in more remote job postings on LinkedIn.
The number of work from home jobs posted on the platform increased over five times during the COVID-19 pandemic.
People looking to find a new job, or to get a job are swarming to these work from home job opportunities to expand on their economic and career opportunities.
46% of workers are planning to relocate, according to a Microsoft WTI report.
A PWC survey revealed that 12% of workers already moved over 50 miles from their office’s physical location since the beginning of the pandemic.
7. Americans Say that They Prefer to Keep Working Remotely from Home.
With or without the pandemic, the work from home model is not going anywhere. It was already expected to grow before that, so it shouldn’t come as a surprise.
Some companies were already starting the switch from their offices to permanent remote work for their employees.
This is a trend that should have American employers looking to get ahead of the game.
The statistics do not lie.
A recent survey from Prudential showed that 1 out of 3 American workers will not work for any employer that won’t offer at least partial remote work from home options.
This statistic shows how crucial it is for employee retention. Also, it’s not just because of the pandemic.
A 2021 job seeker survey in August found that 56% of American workers prioritize flexibility in the workplace.
This percentage is even higher than higher pay at 53% and job security at 47%.
8. 66% of The Top Business Leaders Claim They Are Thinking About Office Space Redesigns for The Hybrid Work Environment.
Today’s society has workers who want control over when, where, and how they work.
The Microsoft Work Trend Index report shows that employees today want the best of both possible worlds with remote work solutions and in-person work options to spend time with coworkers.
The percentages on this are remote work at 73% and in-person time at 67%.
68% of American employees want to work in a hybrid workplace, according to a survey of more than 2,000 full-time employees.
To accommodate the current trends in employee preferences in work environments, 66% of the decision makers in business are thinking of redesigning their existing workspaces to adapt to the hybrid workforce model.
Another survey found that 82% of people with authority over company budgets believe the hybrid work model is a good idea.
9. Millennials and Gen Z Consider Remote Work a Top Priority.
The generations that make remote work a top priority include Millennials and Gen Z-ers. This ideal accounts for 45% of Gen Z-ers and 47% of Millennials.
These groups also claim they would forgo 10% or more in earnings for remote work.
Only 14% of Baby Boomers agreed with the above group, while 38% of Gen X-ers felt the same about remote work.
Further statistics show that women and Gen Z-ers without degrees are more attracted to work from home opportunities.
The younger worker demographic find remote work appealing due to the flexibility in schedules.
10. Modern Day Employees Equate Personal Quality Time with Pay.
A survey conducted by PWC revealed that today’s employees prefer to work for employers who support their quest of personal time and endeavors that they highly value.
These employees value this ideal so much that they would willingly surrender potential pay raises for alternative, less conventional benefits like paid time off for volunteer work and unlimited vacation time.
Younger workers are particularly interested in these work options, according to Great Resignation statistics.
29% of Gen Z employees said that traditional benefits and competitive pay are vital to their engagement.
In comparison, 49% of employees 55 years old and up value traditional benefits and competitive pay as part of their ongoing engagement in the workplace.
Therefore, if you’re a company looking for ways to retain young talent in your workforce, these statistics should prompt you to make some changes.
11. The Rates of Resignation Appear Highest Among Mid-Career Workers.
Most mid-career employees range between 30 and 45 years old. This is the demographic driving the Great Resignation right now.
Even though the turnover rate is highest among younger workers, resignation rates show reductions in workers between 20 to 25.
Resignation rates were lowered in 2020 among those between 60 and 70 years old, but were higher among those 25 to 45 and older, though not as much as those between 30 and 45 overall.
12. Digital Overload Is Creating a Fatigued Workforce as High Productivity Is Prioritized.
Believe it or not, productivity has maintained or even boosted among organizations.
That said, now we have 45% of global workers reporting exhaustion and feeling overworked, resulting in burnout.
Digital overload appears to be the problem, according to the Great Resignation statistics.
Further data reports that 48% of workers feel more pressured to be perpetually online since working from home in a remote environment.
Also, about half of companies and workers are engaging through virtual meetings through platforms like Zoom.
13. The Resignation Rate in The Hospitality and Leisure Sector Is the Highest at 6.4%.
There are more workers quitting in the leisure and hospitality sector than any other job sector.
The only jobs with higher than 3% quit rates include the leisure and hospitality sector at 6.4%, the professional and business services sector at 3.7%, and the trade, transportation, and utilities sector at 3.6%.
On the low end of the spectrum of job quit rates are the financial activities sector at 1.7%, the state and local government sector at 1%, and the Federal Government job sector at 0.7%.
Much of the quit rate is part of the turnover problem that challenges companies today.
Turnover rates can be challenging, but they can also be overcome by giving employees more valuable responsibilities for a better sense of purpose in the workplace, offering better benefits and perks beyond monetary rewards, and giving them opportunities to work as self-directed teams.
14. The Quit Rate Was Higher from 1930 and 1979 Affecting 28% of The Economy.
We are not living during the highest job quit rate ever, but for most of us, it’s the highest in our lifetime.
The manufacturing sector took the biggest quit rate hit from between 1930 and 1979.
In 1945 the manufacturing sector quit rate was 6.1%. When compared to the 2021 quit rate in that sector, it’s much higher than 2.3%.
Another era when the job quit rate was higher than normal came after World War II. The postwar economy in America was in a boom, but also in flux.
In the 1990s to the early 2000s, America’s economy was strong and solid due to the creation of so many jobs. This is one of the factors that signal an upcoming raise in job quit rates.
It’s not that America isn’t suffering from the quit rates, but the country has been through worse in the past.
15. The Retail Trade Hit Its Second-Highest Job Quit Rate in November 2021 with A Rate of 4.4%.
November 2021 was the month that the retail trade experienced its second-highest job quit rate ever at 4.4%. This data includes employees working in stores and shops.
Retail workers are one of the lowest pay rates of job sectors, especially for store associates.
The leisure and hospitality sector suffered a 6.9% job quit rate hit. These two job sectors combined accounted for one-third of all workers who quit in November 2021.
It’s not unusual to find higher quit rates in certain sectors, especially when it’s related to job turnover.
FAQs
How Many Workers Engaged in in Remote Work During the Pandemic?
Nearly 70% of full-time American employees were working from home during the COVID-19 pandemic.
How Many People Refuse to Go Back to Jobs that Don’t Offer Post-Pandemic Remote Work?
1 out of every 2 people say they won’t go back to jobs where they can no longer work from home.
How Many People Think that Working from Home Makes Them Happier?
77% of people surveyed reported that being offered continuing remote work from home after COVID-19 would make them happier.
Are More People Using Video Meetings Now than Before COVID-19?
Yes.
According to the Great Resignation statistics from 2020, 50% more companies and people are using virtual meetings to interview, conduct office meetings, and collaborate since before the pandemic.
How Much Time, on Average, Do People Save by Working Remotely Over a Work Commute?
According to the data, working from home saves an average of 40 minutes on a daily work commute.
Was Anyone Working More During the Pandemic?
1 out of 5 people said they worked more during the pandemic than before.
Conclusion
Do you think it’s time for employers to consider more flexibility in the workplace to encourage active engagement in the workplace through these statistics and insights?
Not only will employers better understand the needs of their workers, but they will also find they attract top talent to their offerings.
The above Great Resignation statistics are vital information for those seeking employment as well as companies looking for talent.
We can all learn a lesson about the workforce and what people want from a job today by considering this data.
