It’s Quittin’ Time In America
April 2021 was the first month to raise eyebrows as a record number of workers quit and anecdotal stories began cropping up that businesses were having trouble filling open roles. It was unclear at the time if it was just a blip in America’s economic recovery.
But then workers kept on quitting. In fact, they’ve now quit at near-record highs for seven months straight — over half of the year. Last October, according to the latest Job Openings, Layoffs, and Turnover Survey (JOLTS) release from the Bureau of Labor Statistics, 4.2 million Americans quit. That’s a drop from the month prior, when a whopping 4.4 million workers left. That’s 3% of the workforce in September and 2.8% in October. In any other moment, it would be a jaw-dropping number, but after the quitting tear of 2021, 4.2 million people leaving in one month now ranks as just the third highest for 2021.
During 7 months of near-record highs, 2021 is officially the year of quitting. Workers in retail, leisure and hospitality, and accommodation and food services are leading the way in walking out. The millions of workers quitting shows how the post-vaccine economy is still being reshaped by workers, and suggests that the old way of work — from wages to flexibility to benefits — has to change for people to stay in their roles.
Staying ahead in the current labor market requires a multifaceted approach, one that may require companies to reexamine their existing practices and implement meaningful changes – even to re-visit the importance of background and credit checks.
Companies are now re-examining old ways to attract candidates, turning more to social media recruiting and being creative as to recruiting efforts.
More companies are focusing on the process of talent acquisition and talent management to ensure they are successful with new hires. Retention is important for many reasons and onboarding new employees is a key component to retention.
Enlist a staffing partner for extra support
Partnering with a staffing agency can make it easier for companies to find qualified talent in less time. A staffing agency such as Cardinal Staffing Services gives you access to a larger pool of qualified, ready-to-work candidates.
Cardinal Staffing Services is the go to Top Tier staffing company to find industrial, skilled trades, office and professional employees. How can we help you today?