This year has been a rough one for businesses, as many experienced labor shortages and supply chain issues in addition to pandemic-related restrictions and shutdowns. However, companies may soon have another problem on their hands.
The latest findings from job search resource ResumeBuilder.com indicate that 15% of American workers plan on quitting their jobs before the end of the year. Another 22% of respondents are still undecided, so the impact of the so-called "Great Resignation" may be even higher.
Employees want higher pay — even those who don't plan on quitting
Half of all employed respondents plan on leaving because they want higher-paying jobs elsewhere. Another report from CareerCloud echoed this finding — in addition to low wages, workers are unsatisfied with the work conditions at their job as well.
Others plan on resigning because they want to:
- Start their own business (44%)
- Look for remote work (43%)
- Find a job that they're more passionate about (41%)
- Focus on their health (34%)
And according to ResumeBuilder.com, 58% of those who don't plan on quitting or are undecided would consider changing jobs if they received a better salary offer elsewhere. The largest share, at 33%, would leave their employer for a 20% increase in salary while the smallest, 9%, would only consider a new offer with a 50% salary increase.
But promises of a larger salary aren't the only incentive that would get employees who aren't quitting to reconsider. This group also said they would think about leaving if they:
- Didn't receive a pay raise at their current job (27%)
- Got new leadership whose vision does not align with their own (27%)
- Got passed up for a promotion (19%)
And with many companies instituting COVID-19 vaccine mandates for their employees, 19% of respondents who don't plan on leaving would do so if their employer forced them to get vaccinated.
Computer and IT companies will see the greatest number of resignations
The ResumeBuilder.com survey also looked at which fields would be most affected by the upcoming mass resignation, and found that the computer and information technology sector would likely see the greatest number of people quitting.
In fact, 40% of employees in this industry already quit in August or plan to do so by the end of December.
"Traditionally, IT workers are looking for new technologies to work on, to be on the cutting edge," says career counselor Stacie Haller. "They are also used to looking for gig work, so changing positions is more common and less stressful for this cohort."
Other industries that may see a large number of resignations include business and finance (24%), health care (18%), food and hospitality (16%), education (15%), construction (13%) and retail (8%).
These employees want to leave their current jobs for varying reasons, so ResumeBuilder.com broke down the top reasons for leaving by sector:
- 80% of workers in education are seeking better-paying jobs
- 70% of workers in computer and IT are starting their own businesses
- 66% of workers in health care are seeking better-paying jobs
- 64% of workers in business and finance want to find remote work
- 60% of workers in retail are finding jobs they are more passionate about
- 58% of workers in food and hospitality are seeking better-paying jobs
- 56% of workers in construction are starting their own businesses
Methodology: On Aug. 13, 2021, ResumeBuilder.com conducted an online survey via Pollfish of 1,250 American adults who are currently employed. Qualifying respondents were found with an initial screening question.