people personality Entrepreneur

The Great Resignation 2022: What Can Employers Do About It?

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over 4.5 million people quit their jobs in November of 2021, which represented a continued trend from earlier months and indicates a seismic shift in the labor market, where young professionals are leaving companies in droves for a variety of reasons, including, but not limited to better pay, improved culture, flexibility and options to work from home.The most impacted group of people are young professionals aged 30 to 45 years old, who are in the middle of their careers, according to the Harvard Business Review.

The resignation rate in this group jumped over 20% from 2020 to 2021.The Work Institute, an industry leading workforce research firm, published a comprehensive study on employee retention and estimates that the cost of turnover is about 33% of an employee’s annual salary.

This is a major cost to employers and makes keeping your employees happy more important than ever.Employers will need to adapt in order to retain their best talent.

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