In 2022, the world witnessed the “Great Resignation” as about 47 million workers quit their jobs in the wake of the pandemic. Some economists are wondering if the Great Resignation 2.0 will make an impact in 2024 since nearly 3 in 10 workers say they will quit their jobs by year-end. A Resume Builder survey of 1,000 full-time employees in the workforce noted that 28 percent expect to resign later this year, particularly younger workers ages 18 to 34 and those in the service industry.
Those who plan to make a career move say they will do so to increase salary, flexibility and job satisfaction. More than half of these workers cite low pay as a primary reason for the planned movement and nearly 45 percent want better benefits and reduced job-related stress.
In response, employers may need to rethink salary and benefits packages as well as remote and hybrid working options. However, since it remains an employer’s market, it may take a swing back to a candidate market to shift these trends.
Interestingly, many workers who participated in the initial Great Resignation later admitted that they regretted the decision to resign.
