Yesterday, we discussed the growth in job opportunities. As highlighted by LinkedIn. Here, we dig into a related topic — quitting at a 20-year high. As well as how to quit in a professional manner.
Looking for Greener Pastures: Quitting at a 20-Year High
It’s nothing short of amazing that we recovering so well since mid-2020, when the unemployment rate was soaring. Due to businesses closing down, operations virtually shut down in some industries, etc. In June 2021, the job market is so favorable that lots of people are quitting to pursue other opportunities.
More U.S. workers are quitting their jobs than at any time in at least two decades. Thereby, signaling optimism among many professionals. While also adding to the struggle companies face trying to keep up with the economic recovery.
The wave of resignations marks a sharp turn from the darkest days of the pandemic. When workers craved job security while weathering a national health and economic crisis. In April, the share of U.S. workers leaving jobs was 2.7%, according to the Labor Department, a jump from 1.6% a year earlier to the highest level since at least 2000.
The shift by workers into new jobs and careers is prompting employers to raise wages and offer promotions to keep hold of talent. The appetite for change by employees indicates many professionals are feeling confident about jumping ship for better prospects, despite elevated unemployment rates.
A high quit rate stings employers with greater turnover costs, and in some cases, business disruptions. Yet, labor economists said churn typically signals a healthy labor market as people gravitate to jobs more suited to their skills, interests, and personal lives.
Take a look at the WSJ timeline chart on quitting.
Quitting in a Professional Manner
If we do seek greener pastures, we should still act professionally with our soon-to-be former employer. Never burn any bridges!
Worldwide, more than 40% of those who responded to Microsoft’s Work Trend Index, a global survey of over 30,000 people in 31 countries conducted in January, said they were considering leaving their employer this year.
Whether you’re entry-level or experienced, there are right and wrong ways to make your exit. It’s important to leave a job gracefully. Play it wrong now, and you might lose out on a positive reference or even job opportunities later. Career coaches and former human resource experts say you should follow these tips before you put your resignation in writing.
- While it can be tempting to leave a bad job as quickly as possible, it’s important to resign professionally. Schedule a meeting with your boss before you put anything in writing.
- Resignation letters should run only a few sentences. And be addressed to your direct supervisor, not to their boss or the HR manager. Your resignation letter is the last impression you leave with the company.
- If you don’t have anything nice to say, don’t say much.
- You don’t have to tell your employer what you’re doing after you leave the company or why you’re moving on if you don’t feel comfortable.
- Even if you feel like you can’t spend another minute at your workplace, experts say the age-old adage holds true. The customary thing to do is give at least two weeks’ notice,
- Sometimes taking a break between jobs can help you reset. But even if you can’t take time off, it’s important to let go of any negative feelings you may have about your former job so you don’t carry that baggage with you into a new position.