The Challenge of The Big Quit

In approximately April of 2021, large numbers of employees in the United States and other major economies such as India and Australia voluntarily resigned from their jobs. The trend has come to be referred to as the “Great Resignation” or the “Big Quit”. 

By some estimates, more than 40% of workers around the world considered quitting their job. In the UK alone, 4.5 million people quit their job in November 2021. The worst hit were the leisure, hospitality, retail and healthcare sectors. 

Various factors have been attributed to this trend. They include the impact of Covid-19, low job satisfaction, burnout and stress from long working hours, and the carrot of marginally higher offers from other jobs in low-wage service sectors. 

Despite resorting to higher wage offers to retain talents, employers in many sectors continue to struggle to retain talent. Experts suggest that companies will need to pay attention to issues of burnout, loss and grief which millions have endured during the pandemic. Employers may also have to continue to adapt to the recent flexible working arrangements, which many employees want to continue, even after the recovery. 

Will the Great Resignation spark a fundamental change in hiring and talent retention policies for companies?

For media enquiries, please contact:

Marie Teo
Manager, Group Marketing Communications
Spire Research and Consulting
Phone: (65) 6838 5355