Great Resignation

Not to be confused with the Great Recession.

After U.S. resignations plummeted during the initial stages of the COVID-19 pandemic, they quickly rose to reach record numbers, peaking in late 2021.[1]
  January 2012 – March 2021
  March 2021 – June 2023: approximate period of the Great Resignation, where quits exceed the previous record

The Great Resignation, also known as the Big Quit[2][3] and the Great Reshuffle,[4][5] was a mainly American economic trend in which employees voluntarily resigned from their jobs en masse, beginning in early 2021 during the COVID-19 pandemic.[6] Among the most cited reasons for resigning included wage stagnation amid rising cost of living, limited opportunities for career advancement, hostile work environments, lack of benefits, inflexible remote-work policies, and long-lasting job dissatisfaction.[7] Most likely to quit were workers in hospitality, healthcare, and education.[8][9][10][11] In addition, many of the resigning workers were retiring Baby Boomers, who are one of the largest demographic cohorts in the United States.[12][13][14]

Some economists have described the Great Resignation as akin to a general strike, especially with regards to retail workers.[15][16][17] However, workforce participation in some regions had returned to or even exceeded the pre-pandemic rate.[18][19][20] This suggests that instead of remaining out of the workforce for extended periods (which can be financially difficult, especially at a time of high inflation), many workers were simply swapping jobs.[9][8] Some regretted quitting their old positions.[21][22]

The term "Great Resignation" was coined by Anthony Klotz, a professor of management at University College London's School of Management, in May 2021, when he predicted a sustained mass exodus.[23][24][25][26] In response, businesses have increased the rate of automation, creating a boom in robotics and artificial intelligence.[27][28][29][30] Furthermore, while workers might feel empowered by being able to quit as soon as they see fit, they might struggle to climb up the career ladder due to their lack of experience and professional connections.[31] Klotz later predicted the plateauing of the quit rate in 2023,[32] and the end of the Great Resignation.[33] By mid-2023, the quit rate has more or less returned to what it was in 2019.[34]

  1. ^ "JOLTS". Economic Policy Institute. Archived from the original on November 12, 2021. Retrieved June 11, 2022.
  2. ^ Curtis, Lisa. "Why The Big Quit Is Happening And Why Every Boss Should Embrace It". Forbes. Archived from the original on July 16, 2021. Retrieved July 16, 2021.
  3. ^ Rosenberg, Jacob. "Workers got fed up. Bosses got scared. This is how the Big Quit happened". Mother Jones. Retrieved February 9, 2022.
  4. ^ Fox, Michelle (February 4, 2022). "The Great Reshuffle: Companies are reinventing rules as employees seek remote work, flexible hours and life beyond work". CNBC. Retrieved March 23, 2022.
  5. ^ Fox, Michelle (March 9, 2022). "Half of Americans who quit their jobs last year made a career change. Here are 5 steps to take to do the same". CNBC. Retrieved March 23, 2022.
  6. ^ Serenko, A. (2023). "The Great Resignation: The great knowledge exodus or the onset of the Great Knowledge Revolution?" (PDF). Journal of Knowledge Management. 27 (4): 1042–1055. doi:10.1108/JKM-12-2021-0920. S2CID 249652534.
  7. ^ Parker, Kim; Horowitz, Juliana Menasce (March 9, 2022). "Majority of workers who quit a job in 2021 cite low pay, no opportunities for advancement, feeling disrespected". Pew Research Center.
  8. ^ a b Morgan, Kate (August 18, 2022). "Why workers just won't stop quitting". BBC Work Life. Retrieved September 19, 2022.
  9. ^ a b Goldberg, Emma (May 13, 2022). "All of Those Quitters? They're at Work". The New York Times. Archived from the original on May 13, 2022.
  10. ^ Cite error: The named reference :7 was invoked but never defined (see the help page).
  11. ^ Lambert, Thomas E. (January 2023). "The Great Resignation: A Study in Labor Market Segmentation". Forum for Social Economics. 52 (4): 373–386. doi:10.1080/07360932.2022.2164599. S2CID 255895424.
  12. ^ Cite error: The named reference :152 was invoked but never defined (see the help page).
  13. ^ Cite error: The named reference :511 was invoked but never defined (see the help page).
  14. ^ Cite error: The named reference :31 was invoked but never defined (see the help page).
  15. ^ Jacobson, Lindsey (February 4, 2022). "The 'Great Resignation' is a reaction to 'brutal' U.S. capitalism: Robert Reich". CNBC. Retrieved February 9, 2022.
  16. ^ "Perspective | Are we witnessing a 'General Strike' in our own time?". Washington Post. ISSN 0190-8286. Retrieved February 9, 2022.
  17. ^ "'Striketober' is showing workers' rising power – but will it lead to lasting change?". The Guardian. October 23, 2021. Archived from the original on October 24, 2021. Retrieved October 24, 2021.
  18. ^ Cite error: The named reference :10 was invoked but never defined (see the help page).
  19. ^ Cite error: The named reference :9 was invoked but never defined (see the help page).
  20. ^ Cassella, Megan (September 2, 2022). "The Labor Shortage Will Get Worse and May Last for Decades". Barron's. Archived from the original on September 3, 2022. Retrieved September 18, 2022.
  21. ^ Nietfeld, Emi (March 11, 2023). "There's a Good Chance You'll Regret Quitting Your Job". The Atlantic. Archived from the original on March 13, 2023. Retrieved April 23, 2023.
  22. ^ Jackson, Ashton (February 2, 2023). "80% of workers who quit in the 'great resignation' have regrets, according to a new survey". CNBC. Retrieved April 23, 2023.
  23. ^ Cohen, Arianne (May 10, 2021). "How to Quit Your Job in the Great Post-Pandemic Resignation Boom". Bloomberg. Archived from the original on July 8, 2021. Retrieved July 8, 2021. Ready to say adios to your job? You're not alone. "The great resignation is coming," says Anthony Klotz, an associate professor of management at Texas A&M University who's studied the exits of hundreds of workers.
  24. ^ "Transcript: The Great Resignation with Molly M. Anderson, Anthony C. Klotz, PhD & Elaine Welteroth". Washington Post. ISSN 0190-8286. Archived from the original on November 10, 2021. Retrieved October 25, 2021.
  25. ^ Kaplan, Juliana. "The psychologist who coined the phrase 'Great Resignation' reveals how he saw it coming and where he sees it going. 'Who we are as an employee and as a worker is very central to who we are.'". Business Insider. Archived from the original on October 25, 2021. Retrieved October 25, 2021.
  26. ^ Beilfuss, Lisa (December 30, 2021). "Covid Drove Workers to Quit. Here's Why From the Person Who Saw It Coming". Barron's.
  27. ^ Molina, Brett (November 13, 2021). "Robot orders by companies surge as labor shortages linger". USA Today. Archived from the original on April 23, 2023. Retrieved April 23, 2023.
  28. ^ Bove, Tristan (August 30, 2022). "The Great Resignation forced U.S. companies to order a record number of robots". Fortune. Archived from the original on September 3, 2022. Retrieved April 23, 2023.
  29. ^ Reiley, Laura; Powell, Lee (September 20, 2022). "The robots are here. And they are making you fries". The Washington Post. Archived from the original on September 25, 2022. Retrieved April 23, 2023.
  30. ^ O'Brien, Matt; Wiseman, Paul (September 5, 2021). "Do we need humans for that job? Automation booms after COVID". Associated Press. Retrieved April 23, 2023.
  31. ^ Morgan, Kate (April 11, 2023). "The Great Resignation: Has quitting become too 'cool'?". BBC Worklife. Retrieved April 23, 2023.
  32. ^ Smith, Megan (February 1, 2023). "Professor who predicted the 'great resignation' says quits will plateau in 2023—here's why". CNBC. Retrieved May 30, 2023.
  33. ^ Morgan, Kate (August 2, 2023). "The Great Resignation is 'over'. What does that mean?". BBC Future. Retrieved August 3, 2023.
  34. ^ Brown, Courtenay (May 31, 2023). "The Great Resignation is over, quit rates return to pre-pandemic levels". Axios. Retrieved December 3, 2023.