AbstractThe Great Resignation is a real thing and is putting some companies at serious risk. While many of this exodus are lower-level front line workers who are seeking higher pay and better working conditions, there is a significant number of professionals who have left or are considering leaving. A September McKinsey Quarterly article noted that 19 million US workers had quit their jobs just since April, a record pace. (Looking at the Labor Bureau stats, it’s about double what we saw in 2020.) There are many factors for people quitting voluntarily. Many people stayed put in 2020 and part of the increase is due to an unleashing of a year’s worth of pent-up resignations. That so many are leaving is certainly an issue. What makes matters worse is that many companies are not making the effort to understand why their people are either thinking of leaving or actually leaving. The easy solution has been to throw money at the problem with raises and retention bonuses and then wonder why it didn’t have the desired impact.
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