The “Great Resignation”, the wave of resignations sweeping the US and Europe, will persist for a while

The phenomenon in which people resign in search of changes that will improve their prospects, an exacerbated phenomenon of pandemic, will persist for a while, warns Michael Miebach, CEO of Mastercard, according to Bloomberg.

The phenomenon began in the US as a wave of resignations, with employees leaving their jobs for various reasons, such as accumulated stress, exhaustion, lack of motivation and the search for a better salary, and now includes Europe.

The movement quickly turned into a manifesto, a need to want more from the employer without fear of being fired. A recent Microsoft study shows that 41% of employees worldwide are now thinking of leaving their current jobs.

In Europe, a study by the German company Personio shows that 46% of employees plan to resign in the next 6-12 months.

In the case of Germany, it seems that one of the main triggers is inflation. A recent study shows that a third of German companies face a shortage of skilled workers. Following the pandemic, Germany reported the highest number of resignations in Europe. In second place is the United Kingdom, followed by the Netherlands and France.

More than 50% of those surveyed in a Personio study said they intended to resign before the pandemic, and the pandemic only accelerated people’s need to explore other options.

In America, the phenomenon has recently accelerated, with the resignation rate reaching a record high of 4.4 million people in September alone, accounting for a whopping 3% of all Americans, Fortune notes.

But the trend is not the same in all sectors of the US economy.

Rates are especially high in industries that traditionally pay lower wages, according to the latest data from the National Bureau of Statistics.

The most affected industries in terms of resignations were the leisure and hospitality industries in September, as well as restaurants and hotels, trade, transport and utilities, professional services and retail.

The pandemic has hit workers in these industries more severely in terms of layoffs and coronavirus cases, and many are optimistic that they can go to other sectors for better conditions.

(source: AFP)

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