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More Americans are leaving their jobs than at any other time in at least two decades, adding to the difficulties many businesses are facing trying to keep pace with the economic recovery.
The wave of resignations marks a sharp turn from the darkest days of the pandemic, when many workers longed for job security while facing a national health and economic crisis. In April, the percentage of American workers who left their jobs was 2.7%, according to the Department of Labor, a jump from 1.6% a year ago to the highest level since at least 2000.
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Americans’ shift to new jobs and professions is prompting employers to raise wages and offer promotions to preserve talent. Employees’ appetite for change indicates that many professionals feel confident to jump ship in search of better prospects, despite high unemployment rates.
While a higher quit rate stings employers who incur greater turnover costs and, in some cases, work disruptions, labor economists say disruption typically points to a healthy labor market where individuals are drawn to jobs more suited to their skills, interests, and personal lives.
In March 2020, Edward Moses was hired as an IT specialist at a software company, believing he would be part of a team supporting colleagues in four US offices. Instead, after a round of layoffs, he found the team had one member, and that was him. “I was really against the help desk queue,” says the 37-year-old.
Melanie Chavez recently started a business that recalls her networking skills and passion for diversity and inclusion. “I really feel like I’m going to shine.” Photo: Camara Sabi
He says the days were stressful, chances of promotion were few. The 5% increase after a strong performance evaluation did not subside his frustration. This spring, Mr. Moses gave notice and embarked on a new job — and career path — as a technical writer at electronic signature company DocuSign.
“It feels great to take my great love of correct grammar and turn it into a job,” says Mr. Musa, who has a master’s degree in education.
There are several factors that drive job turnover. Many people refuse to return to work as usual, prefer the flexibility of remote work or are reluctant to be in an office before the virus is eradicated. Others are overwhelmed by additional workloads related to the pandemic and stress, while some are looking for a higher pay to make up for a spouse’s job loss or using the past year to reconsider their career path and change gears.
Altogether, human resource managers and labor experts are seeing a wave of resignations. In a survey conducted by Prudential Financial Inc. In March on 2,000 workers, a quarter said they plan to soon seek a role with a different employer.
“People see the world differently,” says Steve Cadigan, a talent consultant who led LinkedIn’s human resources during its early years. “It will take time for people to think, ‘How do I separate where I am and reconnect with something new? “We will witness a massive transformation in the next few years.”
Before the pandemic, Jenica Drani was a director at Utah Global, a public-private partnership at the University of Utah that provides services to international students. But when the pandemic moved classes online, she took on the “product manager role” at Utah Global, she says, where she oversaw the switch to virtual courses.
“I really enjoyed finding and identifying bottlenecks, and discovering workflows and processes to solve these bottlenecks. This is not a job I’ve done before,” says the 33-year-old.
This kernel of excitement solidified into a new career plan after the university required administrative staff to return to campus. Mrs. Durrani was hesitant. Remote work suited her better and she was still concerned about the virus. I paid for a certification course in key scrum technologies, which help software development teams communicate and achieve goals, and soon landed a job as a solutions architect with Pluralsight, a provider of technology education programs.
“The availability of jobs in technology is unrealistic. So I think I’ve turned into a world full of opportunity,” she says.
Ian Crawford, left, with new teammate Larry Garvin. Crawford’s new job offered a higher base salary than he had requested plus a quarterly incentive bonus. Photo: Sam Martin
For many workers who want change, there seem to be plenty of options. Some sectors, such as manufacturing, entertainment and hospitality, are getting a boost from government stimulus packages and enthusiastic consumer spending. Employers are looking for workers, and are eager to snap up promising candidates.
“The job market in Kentucky is just starting to take off,” says Ian Crawford, a program manager who left his job at a large industrial company in April to work at Fabricated Metals, a Louisville manufacturing company.
Mr. Crawford was anxious at his former company when, unexpectedly, he learned of an internal opening. He flicked his resume, updated it and applied it. While waiting for a response, LinkedIn sent him an alert of an opening at a company he was monitoring.
“I don’t believe in fate or destiny,” he says, “but the job description aligns with my resume almost perfectly.” With one click, apply. Within days, the 33-year-old was offered an offer of a higher base salary than he had requested as well as a quarterly incentive bonus.
Employers try to avoid losing talent. At Schneider Electric North America, 65% of employees identified as high potential received promotions or new roles in 2020, said Mai Lan Nguyen, the company’s senior vice president of industrial human resources. “We are all on our toes. She says the best talent has many options.
One trend some employers are seeing: High turnover among newer employees, many of whom started remotely and never met co-workers in person.
Jenica Draney switched to a new position after being paid for a project management course. Jobs in technology are unrealistic. Photo: Caleb Virgin
During the pandemic, Detroit-based Ally Financial Services employs about 2,000 employees who “never progressed within our organization,” and turnover was higher among that group, says Cathy Patterson, the bank’s chief human resources officer. “It’s easier to maintain the relationship for now than to build one,” she says.
Remote work has also expanded employment for rival firms and tech companies, making employees with digital skills poised for poaching by employers across the country, says Ms Patterson. The company hopes that Ally’s Own It program, which began in 2019 and awards 100 shares of stock to each employee, will generate loyalty and an “owner mindset” among workers, it says. The shares mature after three years.
Mr. Cadigan sees long-term trends at work in the job-switching data. “Safety was a constant, now job security and safety is a movement. The more I move, the more I know, the bigger my network, the closer I can get to sampling the buffet table for jobs to see what I’m really good at and what the market will pay me for,” the talent consultant says.
Melanie Chavez, who calls herself a chief networker, has changed two jobs since the pandemic began. The first was involuntary. She was discharged last June. The 28-year-old said her next job wasn’t quite the right fit.
Then all of a sudden, a LinkedIn search executive messaged her. Ms. Chavez started there this spring as a research partner, helping to source diverse lists of executives for nonprofit clients. The job requires her networking skills and passion for diversity and inclusion.
“I really like this job,” she says. “I really feel like I’m going to shine.”
Edward Moses is happy with his new job as a technical writer. “It’s great to take my love of correct grammar and turn it into a job.” Photo: Evan Jenkins for The Wall Street Journal
Write to Lauren Weber at [email protected]
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