55% of Americans are looking for a job switch as we speak.
In August 2021, almost 4.3 million people in the US dropped their papers, while 1.3 million workers were laid off. They’re calling it “The Great Resignation.”
So what on earth is going on?
Thread 👇 (1/n)
In August 2021, almost 4.3 million people in the US dropped their papers, while 1.3 million workers were laid off. They’re calling it “The Great Resignation.”
So what on earth is going on?
Thread 👇 (1/n)
Well, this phenomenon is a legacy of the pandemic.
A recent survey suggests that 40% of people say they quit their jobs due to burnout, 20% due to lack of flexibility, and 16% because their employers did not support their wellbeing.
A recent survey suggests that 40% of people say they quit their jobs due to burnout, 20% due to lack of flexibility, and 16% because their employers did not support their wellbeing.
The pandemic brought with it massive pay cuts at jobs, and this has left workers wondering if their current pay is even worth the effort or not.
Fear of COVID has made people averse to relocation. People are now saying that if it's not remote, it's not worth it.
Fear of COVID has made people averse to relocation. People are now saying that if it's not remote, it's not worth it.
But these are just the tertiary reasons.
What most surveys suggest is that the biggest reason why people are quitting is work-life balance. The pandemic has brought about newfound respect for life.
What most surveys suggest is that the biggest reason why people are quitting is work-life balance. The pandemic has brought about newfound respect for life.
Many have realized that work, or at least their current work, is not worth their sacrifices.
People want to spend more time with family, people want to upskill, people want flexibility in work hours.
People want to spend more time with family, people want to upskill, people want flexibility in work hours.
This Great Resignation has further been accelerated due to the startup boom and the rise of investment habits in people for a secondary source of income.
Take the case of India - the attrition rate in the tech sector is up 23%.
Take the case of India - the attrition rate in the tech sector is up 23%.
The same people are either starting up themselves or making their move to startups due to better pay and flexibility.
In fact, in 2020 itself, 1600 tech startups were launched in the country.
In fact, in 2020 itself, 1600 tech startups were launched in the country.
Every major event in history has brought about a revolutionary change. Could “The Great Resignation” & its aftermath be that change?
By @finshots (n/n)
By @finshots (n/n)
Sources -
1. Why millions of workers are quitting - CNBC
2. The Great Resignation - WION
3. The Great Resignation - Wall Street Journal
1. Why millions of workers are quitting - CNBC
2. The Great Resignation - WION
3. The Great Resignation - Wall Street Journal
• • •
Missing some Tweet in this thread? You can try to
force a refresh
