What We’ve Learned from the Great Resignation

Two years and over 100 million quits later, some observers are calling time on the Great Resignation. About 2.4% of Americans quit their jobs in April on a seasonally adjusted basis, finally falling back down to 2019 levels after a period of torrid turnover.

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The term Great Resignation came to define the moment when the labor market began to heat up and workers attained more power than they’ve had in decades to decide where they want to work, for whom and for how much. I asked Anthony Klotz, the professor from University College London who is credited with coining the term, for his take.

“The numbers are pretty clear that the Great Resignation is done or in its twilight across most industries,” Klotz said.?

That's largely because three of the four psychological factors he saw driving the Great Resignation have, for the most part, run their course.?

Those included workers putting their plans to quit on ice during the Covid lockdowns, deciding to quit due to burnout during the pandemic and changing careers after a shift in lifestyle or values, according to Klotz.

That said, the resignation rates today are still elevated, historically speaking, which gets us to the fourth factor driving quits in recent years — the desire for flexibility.?

“If you think about it, flexible work is arguably one of the greatest employee benefits ever,” he said. “It's up there with good career development, right there alongside retirement benefits and pay.”

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Quick Hits

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