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The Great Resignation - The Top 10 Reason Employees Are Quitting

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The Great Resignation - The Top 10 Reason Employees Are Quitting

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Why "The Great Resignation?" The Top 10 reasons why employees are quitting at record levels.

Nearly 3% of the workforce quit their jobs in October. That's over 4 million resignation letters. And it is just shy of the record set the month before.

Here are the top 10 contributing reasons and 3 factors that I believe are negligible…

1. Horrible Bosses - 70% of workers who voluntarily resign don't quit their job... they quit their boss.

Here was a comment from the CEO of SHRM Johnny C. Taylor, Jr.,

“People don't leave jobs, they leave bad managers and bad cultures. The pandemic has shown many of us what truly matters, and what truly matters is PEOPLE. Employees want to feel valued and appreciated. They want to feel like they belong. And it's time for workplace leaders to step up.”

2. Lack of freedom - Many workers have been remote over the last two years. They've gotten used to work-from-home. Namely less stress and greater flexibility. Now many are being mandated to go back to the office.

3. Friends - According to Gallup, “Those who [have a best friend at work] are seven times as likely to be engaged in their jobs." The pandemic has weakened work relationships.

4. Peer Pressure - You can't discount the "knock-on" effect of job-hopping. All of a sudden you start seeing coworkers or friends quitting in droves. You begin to question it yourself.

5. Generational - Millennials and GenZ are now the vast majority of workers. They don't see work the same way as previous generations. Job hopping isn't a black mark any longer.

6. Mo' Money - In the words of Ray DuBeau Jr., "Money is the conduit that allows people to live their lives. Companies and industries that are offering above-market rates aren't experiencing the great resignation."

7. Start-Up Boom - Americans started 4.3 million businesses last year, a 24% increase from the year before and by far the most in the 15 years that the government has kept track. Applications are on a pace to be even higher this year.

8. Childcare - lack of it has forced workers, particularly women, from reentering the workforce.

9. Upskilling - According to Lon Graham, “During the pandemic, a lot of people enrolled in online classes, online training, and other skill-building activities. The one's who did are now worth more to the marketplace and are leaving current jobs for the jobs they qualified themselves to get.”

10. Purpose - According to Margarita Andryushenko, “If an employee doesn’t feel like they’re making a difference or if the work they are doing actually matters, that’s a big deal-breaker right there. People want to feel connected and important to the work they’re doing.”

... and 3 reasons that aren't valid in my view: Vaccine Mandates, Handouts, and Gig Work.

What other factors are contributing? Please share in the comments.

Why "The Great Resignation?" The Top 10 reasons why employees are quitting at record levels.

Nearly 3% of the workforce quit their jobs in October. That's over 4 million resignation letters. And it is just shy of the record set the month before.

Here are the top 10 contributing reasons and 3 factors that I believe are negligible…

1. Horrible Bosses - 70% of workers who voluntarily resign don't quit their job... they quit their boss.

Here was a comment from the CEO of SHRM Johnny C. Taylor, Jr.,

“People don't leave jobs, they leave bad managers and bad cultures. The pandemic has shown many of us what truly matters, and what truly matters is PEOPLE. Employees want to feel valued and appreciated. They want to feel like they belong. And it's time for workplace leaders to step up.”

2. Lack of freedom - Many workers have been remote over the last two years. They've gotten used to work-from-home. Namely less stress and greater flexibility. Now many are being mandated to go back to the office.

3. Friends - According to Gallup, “Those who [have a best friend at work] are seven times as likely to be engaged in their jobs." The pandemic has weakened work relationships.

4. Peer Pressure - You can't discount the "knock-on" effect of job-hopping. All of a sudden you start seeing coworkers or friends quitting in droves. You begin to question it yourself.

5. Generational - Millennials and GenZ are now the vast majority of workers. They don't see work the same way as previous generations. Job hopping isn't a black mark any longer.

6. Mo' Money - In the words of Ray DuBeau Jr., "Money is the conduit that allows people to live their lives. Companies and industries that are offering above-market rates aren't experiencing the great resignation."

7. Start-Up Boom - Americans started 4.3 million businesses last year, a 24% increase from the year before and by far the most in the 15 years that the government has kept track. Applications are on a pace to be even higher this year.

8. Childcare - lack of it has forced workers, particularly women, from reentering the workforce.

9. Upskilling - According to Lon Graham, “During the pandemic, a lot of people enrolled in online classes, online training, and other skill-building activities. The one's who did are now worth more to the marketplace and are leaving current jobs for the jobs they qualified themselves to get.”

10. Purpose - According to Margarita Andryushenko, “If an employee doesn’t feel like they’re making a difference or if the work they are doing actually matters, that’s a big deal-breaker right there. People want to feel connected and important to the work they’re doing.”

... and 3 reasons that aren't valid in my view: Vaccine Mandates, Handouts, and Gig Work.

What other factors are contributing? Please share in the comments.

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The Great Resignation - The Top 10 Reason Employees Are Quitting

  1. 1. TOP 10 REASONS WHY EMPLOYEES ARE QUITTING AT RECORD LEVELS BY: STAN PHELPS, CSP #the1299 Photo Credits: Pixabay and StoryBlocks WHYTHE GREAT RESIGNATION?
  2. 2. Nearly 3% of the workforce quit their jobs in October. That's over 4 million resignation letters. And it is just shy of the record set the month before. Why? Let’s look at 10 contributing factors… RECORD QUITTING
  3. 3. HORRIBLE BOSSES 1 70 percent of workers who voluntarily resign don't quit their job... they quit their boss. “People don't leave jobs, they leave bad managers and bad cultures. The pandemic has shown many of us what truly matters, and what truly matters is PEOPLE. Employees want to feel valued and appreciated. They want to feel like they belong. And it's time for workplace leaders to step up.” - Johnny C. Taylor Jr. CEO SHRM
  4. 4. LACKOF FREEDOM 2 Many workers have been remote over the last two years. They've gotten used t o w o r k - f r o m - h o m e . Namely less stress and greater flexibility. Now many are being mandated to go back to the office either part or full-time. Many are not "having it" as the Brits would say.
  5. 5. FRIENDS 3 According to  Gallup, “Those who [have a best friend at work] are  seven times  as likely to be engaged in their jobs, are better at engaging customers, produce higher quality work, and have higher well-being.” I dare to say they'd be less likely to quit as well. The key is [at work]. I think the pandemic has weakened those relationships. Less engagement translates to more apt to quit.
  6. 6. PEERPRESSURE 4 You can't discount the "knock-on" effect of job-hopping. All of a s u d d e n y o u s t a r t s e e i n g coworkers or friends quitting in droves. You begin to question it yourself. “Job openings and quits have remained elevated in recent months, showing both that jobs are plentiful and also that people have the confidence to quit their jobs, knowing they will be able to find new ones.” - Peterson Institute for International Economics
  7. 7. GENERATIONAL 5 Millennials and GenZ are now the vast majority of workers. They don't see work the same way as previous generations. Nor are they defined by it. Job hopping isn't a black mark any longer.
  8. 8. MONEY 6 “At the most fundamental level, money is what people expect from their w o r k . M o n e y i s t h e conduit that allows people t o l i v e t h e i r l i v e s . Companies and industries that are offering above- m a r ke t r a t e s a r e n ' t experiencing the "great resignation" to the same degree as industries like hospitality and retail, and it's no mystery why.” - Ray DuBeau Jr. “Be careful. People who care primarily about money… can easily be bought.”
  9. 9. START-UP BOOM 7 Americans filed paperwork t o s t a r t 4 . 3 m i l l i o n businesses last year, according to data from the Census Bureau, a 24 percent increase from the year before and by far the most in the decade and a half that the government has kept track. Applications are on a pace to be even higher this year. “During the pandemic, MLMs, from individual sellers to corporate offices,  have figured out how to make the most of the moment. They’ve used it as an opportunity to  recruit more sellers, taking advantage of economic insecurity and people’s desires to work from home. People don’t need to sell “belly to belly” — meaning in person — anymore; they can just do it through hours of talking to faceless acquaintances and strangers on Facebook Live and Instagram.” - VOX.com
  10. 10. CHILDCARE 8 “In  an Indeed survey this summer, one-third of those looking for a job said they wouldn’t want to start in the next month, and a significant share said they were waiting for schools to open. Among those who were unemployed but not urgently looking, nearly one-fifth said care responsibilities were the reason.” - The New York Times
  11. 11. UPSKILLING 9 “A lot of people took advantage of the opportunity to increase market value and marketability by ‘upskilling.’ During the pandemic, a lot of people enrolled in on-line classes, on-line training and other skill building activities. The one's who did are now w o r t h m o r e t o t h e marketplace and are leaving current jobs for the jobs they qualified themselves to get.” - Lon Graham “I think that this pause gave us the perfect nudge to get ourselves educated and make a change. I know I was one of them. I knew that I needed to get into another field that I could do remotely fast. It turned out to be IT. I wouldn't call it quitting. I would call this a migration.” - Ambur Fork
  12. 12. PURPOSE 10 “Finding purpose and meaning in your work is another one. If an employee doesn’t feel like they’re making a difference or if the w o r k t h e y a r e d o i n g actually matters, that’s a big deal breaker right there. P e o p l e w a n t t o f e e l connected and important to the work they’re doing.” - Margarita A. Andryushchenko
  13. 13. THREEREASONSTHATAREN’TVALID VACCINE MANDATES GIG WORK SOCIAL HANDOUTS 5% of unvaccinated adults say they would quit over vaccine mandates. Wrong. Research shows that very few actually follow-through on the threat. People are quitting to get s o c i a l h a n d o u t s l i k e unemployment. Wrong. The current unemployment rate is now at a 52 year low. People are leaving their jobs to do gig work. Wrong. The amount of people doing gig jobs has fell from 16% to 9% during the pandemic.
  14. 14. OTHER FACTORS? What other factors are contributing to quitting? Please share in the comments. LAST WORD: Friend and fellow speaker Jeff Nischwitz doesn’t like to call this “The Great Resignation.” He thinks we should call it… 
 “The Great Reassessment.” Jeff uses the metaphor of a snowglobe. The magic only happens when you shake it up. Smart companies will leverage this time as an opportunity to drive engagement and reinforce culture.
  15. 15. ABOUTTHEAUTHOR STAN PHELPS, CSP Stan Phelps is a masterful storyteller who quickly connects with audiences. Over the last 10 years, Stan has delivered keynotes and workshops for Fortune 100 brands including IBM, Target, UPS, Citi and more. He is a Forbes Contributor, TEDx Speaker, IBM Futurist, and author of the 10-color Goldfish Book Series that includes “Green Goldfish 2.0 - 15 Ways to Drive Employee Engagement and Reinforce Culture.” Stan makes it his mission to exceed expectations and inspire audiences in ways they just can’t help but talk about — and won’t soon forget. StanPhelpsSpeaks.com

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