Why have so many people quit their jobs over the past few years? Is this 'Great Resignation' simply a case of workers finding better opportunities within the same industry, or is something deeper going on?
To find out, McKinsey & Company examined economic and labor statistics, conducted a large global survey, and applied advanced analytics to define segments of the workforce (see the full report and methodology here).
The researchers found that 40% of workers globally say they may leave their jobs in the near future.
Among workers who quit their jobs between April 2020 and April 2022, some 65% say they did not take a new job in the same industry (48% say they moved to a different industry and 17% say they did not return to the workforce).
Workers say the top reasons they've quit a job are because of a lack of career development and advancement opportunities, inadequate total compensation, and uncaring and uninspiring leaders.
Workers cite workplace flexibility and meaningful work as among the top reasons why they decide to stay at a job.
Among 'traditionalists'—workers classified by the researchers as those who have quit a full-time job and taken another one—the top reason cited for making the move is career development and advancement opportunities.
Among 'nontraditionalists'—workers classified by the researchers as those who have left a full-time job and not yet taken another one—the top reason cited for potentially returning to a traditional job is workplace flexibility.
About the research: The report was based on an analysis of economic and labor statistics, a large global survey, and applied advanced analytics to define segments of the workforce.
Know someone who would enjoy it too? Share with your friends, free of charge, no sign up required! Simply share this link, and they will get instant access…
You may like these other MarketingProfs articles related to Career Development:
- Why Employees Are Staying at Their Jobs [Infographic]
- What Top Salespeople Do Differently Across the Sales Cycle [Infographic]
- How B2B Marketers Can Know If They've Chosen the Right Career | Marketing Smarts Live Show
- The Top Skills Among B2B Marketers on LinkedIn
- The Average Tenure of CMOs at Big Companies
- How to Authentically Brand Yourself in a Digital World | Marketing Smarts Live Show