{"id":48806,"date":"2021-08-09T14:24:15","date_gmt":"2021-08-09T21:24:15","guid":{"rendered":"\/us\/en\/blog\/?p=48806"},"modified":"2023-01-18T03:27:44","modified_gmt":"2023-01-18T11:27:44","slug":"whats-causing-the-massive-worker-exodus","status":"publish","type":"post","link":"\/us\/en\/blog\/whats-causing-the-massive-worker-exodus\/","title":{"rendered":"Why are workers quitting their jobs?"},"content":{"rendered":"<p><b>Highlights:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The US Labor Department is reporting a record number of job openings going unfilled.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/www.ringcentral.com\/us\/en\/blog\/1-in-3-employees-would-look-for-a-new-job-if-required-to-return-to-the-office\/\"><span style=\"font-weight: 400;\">33% of workers<\/span><\/a><span style=\"font-weight: 400;\"> plan to leave their jobs if forced to return to the office full time.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Companies are turning to new strategies to attract and retain workers.<\/span><\/li>\n<\/ul>\n<hr \/>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">The last year and a half have been hectic, to say the least. While the pandemic upended so many aspects of our daily lives, it had a particularly outsized effect on the workplace.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Many businesses implemented remote work for the first time ever. Others were forced to cut workers. And others had to find the balance between safety and bringing workers back to the office.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Now as businesses emerge from the pandemic, they\u2019re faced with a challenge no one saw coming: <\/span><b>people are quitting their jobs in record numbers<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\t\t\t<\/p>\n<div class=\"rc-bottom-cta rc-bottom-cta__landscape\" style=\"background-color:#FF8800;flex-direction: row-reverse;\">\n<div class=\"bottom-cta-img\">\n\t\t\t\t\t<img decoding=\"async\" width=\"930\" height=\"700\" src=\"\/us\/en\/blog\/wp-content\/uploads\/2021\/06\/Uncommon-perks.png\" class=\"responsive-image\" alt=\"7 uncommon ...\" \/>\t\t\t\t<\/div>\n<div class=\"bottom-cta-copy\">\n<div class=\"rc-bottom-cta__text\" style=\"color:ffffff;\">\n<h3\n\t\t\t\t\t\t\t\tclass=\"rc-bottom-cta__title headline-copy\"\n\t\t\t\t\t\t\t\tstyle=\"\"\n\t\t\t\t\t\t>7 uncommon perks to give your remote and hybrid workers<\/h3>\n<\/p><\/div>\n<div class=\"rc-bottom-cta__btn-wrapper\" style=\"\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\t\tclass=\"btn btn-primary btn-lg rc-bottom-cta__link\"\n\t\t\t\t\t\t\t\ttitle=\"See the blog\"\n\t\t\t\t\t\t\t\thref=\"https:\/\/www.ringcentral.com\/us\/en\/blog\/7-uncommon-perks-to-give-your-remote-and-hybrid-workers\/\"\n\t\t\t\t\t\t\t\tdata-dl-name=\"See the blog\"\n\t\t\t\t\t\t\t\tdata-dl-element=\"button\"\n\t\t\t\t\t\t\t\tdata-dl-additional-info=\"bottom cta banner\"\n\t\t\t\t\t\t\t\tdata-no-auto-dl=\"true\"\n\t\t\t\t\t\t\t\tstyle=\"\"\n\t\t\t\t\t\t\t\tonmouseover=\"\"\n\t\t\t\t\t\t\t\tonmouseout=\"this.style.backgroundColor='';this.style.borderColor='';this.style.color='';\"\n\t\t\t\t\t\t>See the blog<\/a>\n\t\t\t\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>\t<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Labor Department\u2019s Job Openings and Labor Turnover Survey reports a <\/span><a href=\"https:\/\/www.cnbc.com\/2021\/06\/08\/job-openings-set-new-record-of-9point3-million-amid-economic-reopening.html\"><span style=\"font-weight: 400;\">record number of open positions<\/span><\/a><span style=\"font-weight: 400;\">. And companies are facing a high risk of job attrition. In a survey of HR executives by Conference Board, a research group, <a href=\"https:\/\/conference-board.org\/pdfdownload.cfm?masterProductID=27396\">49% of organizations<\/a> find it difficult to retain workers in 2021.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It\u2019s a head-spinning shift from just a year ago, when many workers were laid off or furloughed amid the economic uncertainty of the pandemic. In those bleak days, it seemed like everyone knew someone who lost their job.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Times are changing once again\u2014and the risk of losing good employees is <\/span><a href=\"https:\/\/www.axios.com\/post-pandemic-job-turnover-04cdedcb-ddd6-4b20-b936-70b1cc2595aa.html\"><span style=\"font-weight: 400;\">keeping executives up at night<\/span><\/a><span style=\"font-weight: 400;\">. But companies can\u2019t fix their talent retention problem if they don\u2019t understand the underlying factors that are driving this exodus. Here are some of the key reasons so many workers are saying \u201cI quit.\u201d<\/span><\/p>\n<h2><b>1. A new outlook on life\u00a0<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Last year was all about making trade-offs in the name of safety and security. On the work front, this meant \u201c<\/span><a href=\"https:\/\/www.forbes.com\/sites\/jackkelly\/2021\/02\/19\/a-linkedin-survey-shows-that-americans-are-sheltering-in-their-jobs-afraid-to-make-the-switch\/?sh=18cf75f87a9a\"><span style=\"font-weight: 400;\">sheltering in their job<\/span><\/a><span style=\"font-weight: 400;\"><a href=\"https:\/\/www.forbes.com\/sites\/jackkelly\/2021\/02\/19\/a-linkedin-survey-shows-that-americans-are-sheltering-in-their-jobs-afraid-to-make-the-switch\/?sh=18cf75f87a9a\">s<\/a>\u201d for many employees or overlooking on-the-job issues such as bad managers or undesirable job functions in return for a regular paycheck.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><\/p>\n<div class=\"quote-text-break-point-large\">\n<p class=\"quote-text\">&#8220;People have started thinking about what they\u2019ve been doing and whether they want to continue on in the same job or career for the next five to 25 years.\u201d <\/p>\n<p class=\"quote-text-author\">Jack Kelly, Senior Contributor at Forbes<\/p>\n<\/p><\/div>\n<p>\t<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But the existential nature of living through a deadly pandemic (coupled with people having a lot of time on their hands!) is a catalyst for reevaluation. As fears over health and safety ease up, many people are taking a closer look at their lives\u2014and their livelihoods\u2014to ensure their choices align with their greater needs. With so many open positions, it\u2019s an applicant\u2019s job market\u2014and that\u2019s making some question the point of staying at a job that doesn\u2019t make them happy.<\/span><\/p>\n<h2><b>2. Change of address\u00a0<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">For a significant number of workers, the interim shift to remote work was coupled with a more permanent change: <strong>relocation<\/strong>. Nearly three in 10 Americans said they <\/span><a href=\"https:\/\/www.cnbc.com\/2021\/02\/22\/more-americans-are-looking-to-move-this-year-as-remote-work-takes-hold.html\"><span style=\"font-weight: 400;\">considered moving during the pandemic<\/span><\/a><span style=\"font-weight: 400;\">, and there\u2019s been a 20% increase in people planning to move this year compared to last year.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There are lots of things driving these changes of address: better cost of living, proximity to family, and improved quality of life. But relocation poses a challenge for jobs that are tied to a physical office, especially if a move makes commuting time consuming (if not impossible).\u00a0<\/span><\/p>\n<h2><b>3. The desire for remote work\u00a0<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The need to work remotely during the pandemic showed many workers how life could be: the ability to throw in a load of laundry or make kids\u2019 lunches during the day, greater flexibility to balance work and personal tasks, and so on. And a <\/span><a href=\"https:\/\/www.flexjobs.com\/blog\/post\/remote-work-statistics\/\"><span style=\"font-weight: 400;\">majority of workers<\/span><\/a><span style=\"font-weight: 400;\"> have no interest in going back to the old grind.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But while many companies are planning for a remote or hybrid future, not all businesses are having it. Despite the changing tides, some organizations will <\/span><a href=\"https:\/\/www.wsj.com\/articles\/jamie-dimon-says-jpmorgan-wont-go-remote-after-the-pandemic-11617808640\"><span style=\"font-weight: 400;\">require all employees to come back to the office full-time<\/span><\/a><span style=\"font-weight: 400;\"> when it\u2019s safe to do so.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><\/p>\n<div class=\"quote-text-break-point-large\">\n<p class=\"quote-text\">&#8220;Not only are many people\u00a0<em>considering<\/em> switching jobs if they have to go back to the office, but many have already done it.&#8221; <\/p>\n<p class=\"quote-text-author\">Alison Green, Founder at Ask a Manager<\/p>\n<\/p><\/div>\n<p>\t<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With <\/span><a href=\"https:\/\/www.ringcentral.com\/us\/en\/blog\/1-in-3-employees-would-look-for-a-new-job-if-required-to-return-to-the-office\/\"><span style=\"font-weight: 400;\">one in three workers saying they will leave their job<\/span><\/a><span style=\"font-weight: 400;\"> if forced to return to in-person work, companies that don\u2019t offer remote work may have trouble retaining talent.<\/span><\/p>\n<h2><b>4. Higher pay\u00a0<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Many workers saw their pay frozen (along with cuts to bonuses and some benefits) during the pandemic. But salaries are yet another way the tides have turned. Labor shortages mean companies may need to pony up more to attract workers, and all categories of employees and types of businesses are <\/span><a href=\"https:\/\/www.shrm.org\/resourcesandtools\/hr-topics\/compensation\/pages\/navigating-post-pandemic-compensation-challenges.aspx\"><span style=\"font-weight: 400;\">projecting pay raises<\/span><\/a><span style=\"font-weight: 400;\">. This <\/span><a href=\"https:\/\/www.cnbc.com\/2021\/07\/17\/why-the-biggest-job-wage-boom-is-blue-collar-.html\"><span style=\"font-weight: 400;\">wage boom<\/span><\/a><span style=\"font-weight: 400;\"> is even more pronounced at the blue-collar level.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Money talks\u2014and where workers are concerned, the opportunity to make more of it is yet another factor that may lead to job change.<\/span><\/p>\n<h2><b>Maintaining a talented, productive workforce in a candidate\u2019s market<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The potential worker mass exodus has big implications for businesses. If not mitigated, high employee turnover can significantly impact productivity, company culture, and the bottom line due to the expense of hiring and training new employees.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But there are ways to stem this tide. Check out our posts &#8220;<a href=\"https:\/\/www.ringcentral.com\/us\/en\/blog\/what-your-business-needs-to-succeed-in-hybrid-work\/\">What your business needs to succeed in hybrid work<\/a>&#8221; and &#8220;<span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;7 uncommon perks to give your remote and hybrid workers&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:1,&quot;3&quot;:{&quot;1&quot;:0}}\" data-sheets-hyperlink=\"https:\/\/www.ringcentral.com\/us\/en\/blog\/7-uncommon-perks-to-give-your-remote-and-hybrid-workers\/\"><a class=\"in-cell-link\" href=\"https:\/\/www.ringcentral.com\/us\/en\/blog\/7-uncommon-perks-to-give-your-remote-and-hybrid-workers\/\" target=\"_blank\" rel=\"noopener noreferrer\">7 uncommon perks to give your remote and hybrid workers<\/a>&#8221; to see how you can retain workers.<\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Highlights: The US Labor Department is reporting a record number of job openings going unfilled. 33% of workers plan to leave their jobs if forced to return to the office full time. Companies are turning to new strategies to attract and retain workers. &nbsp; The last year and a half have been hectic, to say &#8230;<\/p>\n","protected":false},"author":29,"featured_media":48807,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17901],"tags":[34906],"class_list":["post-48806","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-leadership","tag-hybrid"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.3 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Why are workers quitting their jobs? | RingCentral Blog<\/title>\n<meta name=\"description\" content=\"Highlights: The US Labor Department is reporting a record number of job openings going unfilled. 33% of workers plan to leave their jobs if forced to\" \/>\n<meta name=\"robots\" content=\"index, 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