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Great Resignation Continues in 2022

According to a survey, nearly half of employees are searching for a new job or plan to do so soon, implying that the Great Resignation, a pandemic-era phenomenon, would continue into 2022.According to Willis Towers Watson’s 2022 Global Benefits Attitudes Survey, 44% of employees are “job hunters” at this time. They are active job seekers, with 33% looking for work in the fourth quarter of 2021 and 11% planning to look in the first quarter of 2022.

In December 2021 and January 2022, the study interviewed 9,658 U.S. employees from big and medium private businesses across a wide range of industries.  Since spring 2021, when the economy began to emerge from its epidemic hibernation and corporate demand for people rose, the Great Resignation, also known as the Great Reshuffle, has been a characteristic of the U.S. labor market.

Job vacancies and Resignation soared to new highs, while layoff rates plummeted. As businesses fought for talent, wages climbed at a rapid pace. According to the official figures, about 4.3 million workers quit their jobs in January, missing a monthly record established in November. In 2021, nearly 48 million people left, a new annual high.

According to the survey, over half of the workers (56 percent) indicated compensation is the top reason they’d hunt for a job with a different company. For a 5% rise, 41% of respondents would leave. Inflation has been a constant battle for households, eating into budgets and outpacing raises for the ordinary worker.

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