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Imagine if 25% of your workforce quit tomorrow. Labor statistics and numerous surveys point to one thing – a significant portion of employees are ready to give notice. Dubbed the Great Resignation, this wave of departures is sweeping across virtually every industry. The size of the situation?
- There were more than 9 million open positions as of April, which puts the job opening rate around 6.2% (Bureau of Labor Statistics).
- 2.7% of workers quit their jobs in April – the highest rate on record (Bureau of Labor Statistics).
- Industries with the highest quit rates include retail, leisure, transportation and professional and business services (Peterson Institute for International Economics).
- More than 40% “of the global workforce is likely to consider leaving their current employer within the next year” (Microsoft’s 2021 Work Trend Index).