Casting her eye over the latest data on post-pandemic resignations in the US, Natalie Baumgartner sees many struggling companies. “Organisations are in tremendous pain,” says the chief workforce scientist at Achievers, an employee engagement software provider. “What they’re seeing in terms of their [staff] turnover is exorbitantly costly.”
Such a high volume of departures has not been seen for some time. Some 4.5mn people quit their jobs in March, according to the US Labor Department, leaving 11.5mn unfilled posts — the highest level since December 2000. And, while better pay prompts some to switch jobs, prominent among the forces driving the so-called “great resignation” is the overwhelming stress that leaves workers physically and emotionally exhausted: burnout.
Some research suggests burnout could even rank higher than pay on the list of what prompts a job change. A 2021 study of 200 executives by the Society for Human Resource Management found that, while 53 per cent of respondents said “better compensation” had prompted their job search, 43 per cent cited “better work-life balance”.