What is the Big Quit?
The Big Quit, also known as the Great Resignation, refers to the record number of employees who quit their jobs in the US between April and December 2021.
In December 2021, 4.3 million Americans quit their jobs, with one Microsoft survey of more than 30,000 global workers finding that 41% of employees had either resigned or were thinking about resigning.
What caused the Big Quit?
Many academics attribute the Great Resignation to people reflecting on their work-life balance during the pandemic and opting for jobs with increased flexibility. In one survey of people who found a new job during this time, a quarter of respondents cited remote work as a driving factor.
Other suggested factors include wage stagnation amid an increase in the cost of living, long-lasting job dissatisfaction, and safety concerns as workers were called back to the office in the middle of the pandemic.
How to retain staff during the Big Quit
At Oyster we believe that one of the most effective changes companies can make in order to retain staff is to introduce a work model that offers employees the flexibility to work from anywhere. Find out more about how Oyster’s global employment platform can help you to build, support, and scale distributed teams.
Disclaimer: This article and all information in it is provided for general informational purposes only. It does not and is not intended to, constitute legal or tax advice. You should consult with a qualified legal or tax professional for advice regarding any legal or tax matter and prior to acting (or refraining from acting) on the basis of any information provided on this website.
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