The Great Resignation is more complex than meets the eye.
Yes, workers are quitting jobs at higher levels. However, this doesn’t necessarily mean they are leaving the workforce – they just want new experiences.
According to McKinsey’s “The Great Attrition is making hiring harder” analysis, there are three categories of workers that are participating in this job exodus:
- Reshufflers: Workers who have pivoted to new industries
- Re-inventors: Workers who are switching to entrepreneurism, temporary work or gig jobs
- Re-assessors: Workers who have quit their jobs to support their personal responsibilities
According to McKinsey’s survey, 40% of workers worldwide said they planned to exit their jobs over the next three to six months.
Across Australia, Canada, India, Singapore, the UK and the US, workers cited doing so due to having a “high desire for work that is better paying, more satisfying, or both.”
Jobs that experienced the highest quit rates included finance and insurance positions (65%) and public and social services (72%).
McKinsey found that jobs within the tech industry, such as data science and programming, will be easy to attain, especially due to this sector embracing remote work models.