Giving Compass' Take:
- Futurity interviews Jennifer Glass, a sociology professor at the University of Texas at Austin, on the factors contributing to workers in the U.S. quitting their jobs in droves.
- How has the pandemic caused you to rethink aspects of your daily routine, like your job? How can labor conditions be improved to retain workers?
- Read about how schools can potentially keep teachers from quitting.
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A Microsoft survey of more than 30,000 global workers showed that 41% of workers were considering quitting or changing professions this year.
Among all sectors, retail has had the most resignations. Almost 650,000 retail workers quit just in April, according to the Department of Labor. A survey by executive search firm Korn Ferry found that 94% of retailers are having trouble filling empty roles. High turnover is happening throughout society, as evidenced by raises and signing bonuses, as well as flexible and remote-work options. Wall Street investment banks are trying to sweeten the deal by giving staff members Apple products and Peloton bikes.
Here, Jennifer Glass, a sociology professor at the University of Texas at Austin and an expert on work and family issues, telecommuting, and new labor practices, explains what exactly is going on:
Q: In your view, why are so many people quitting their jobs?
A: There are a couple of different things going on: We are on the cusp of one of the largest retirements in the history of the United States, the retirement of the baby boomers. We knew that this cohort in particular was probably going to work longer because they don’t have as much savings, and I think a lot of economists in particular were thinking that we would not see this massive retirement all at once because of that factor.
But COVID threw a monkey wrench in that. A lot of people were home full time. A lot of people had saved a lot and realized that they could get by on less. But more than that I think they realized they liked being home, they liked having an easier schedule, and they didn’t want to go back to work. It’s sort of like postponed fertility or postponed marriage—well, there’s also postponed retirement. That was true for me. I started thinking seriously about my own retirement plans during COVID.
This has suggested to people that there is a different way to live, and that way involves less work and more leisure and more time with family.
Read the full article about why many Americans are leaving their jobs at Futurity.