Plummeting job data reveals the story of a “quiet quitting” epidemic that hasn’t slowed. An average of 4M people left their jobs in 2021, and at the end of March 2022, there were 11.5M job openings in the US. That’s a stark jump from the 7M openings in 2019. This phenomenon is called the Great Resignation.
What Is the Great Resignation?
When you hear people talk about the Great Resignation, they are referring to the sharp rate of workers resigning from their jobs.
It started in early 2020 and is still going on in 2022. While the onset of the COVID pandemic had a large influence on people leaving their jobs and not returning, experts suggest that this phenomenon started happening well before the pandemic.
COVID was simply a trigger that accelerated the Great Resignation. In reality, today’s labor force is starting to look at work differently, and high demand paired with a low unemployment rate is not the sole reason for high quit rates in the US.
Trends and Stats on the Great Resignation in 2022
These stats on the Great Resignation reveal several things, the most important of which is the long-lasting impact on the future of our workforce. Data indicates that the very nature of the workplace is morphing before our eyes and will continue to change in the coming years.
- 2022 data reveals that 40% of employees are thinking about quitting their jobs within the next six months.
- The rate of employees quitting now is 25% higher than it was before the pandemic.
- A whopping 89% of Americans who quit their job in 2021 said they felt unsupported and burned out.
- 63% of job seekers said work-life balance trumps compensation.
- People who left their jobs in 2021 included feeling: (57%) disrespected, (43%) underpaid, (39%) and overworked.
Hiring Difficulties of Getting Skilled Employees
With people dropping out of the labor market or switching professions, more and more hiring signs are popping up in windows. Skilled engineers and designers are among some of the most difficult talent to find—mostly those who are in specialized fields.
Beyond finding skilled talent, companies also have to consider the increased challenges with onboarding and training coupled with the uncertainty of their new hires sticking around long enough to make back their investment.
We Provide an Engineering Team for You
If your company is hard-pressed finding the right people and resources for your design and engineering projects, collaborating with a service provider like CADimensions is a great alternative.
Working with CADimensions gives you an engineering team that excels in design without having to hire new people. This gives you project flexibility and reduces overhead costs because you don’t have to worry about taking a risk and onboarding a new hire.
Take a look at the services that can help keep moving your business forward.
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