Is the ‘great resignation’ coming to a close?

Editor's Note

March 2023 marked the lowest number of quits among US workers since May 2021, according to a recent survey from the Labor Department, as reported by CNBC.

More than 50 million workers left their jobs in 2022, the highest number of quits since the government began tracking this data in 2000. In March 2023, the number of quits had decreased to approximately 3.9 million.

Chief economist at ADP, Nela Richardson, says the great resignation is looking like “a thing of the past.”

OR Manager’s April and May 2023 issues covered a two-part series, titled "State of the perioperative workforce in 2023," which highlights how the perioperative industry may continue to feel the strain of staffing issues. Perioperative leadership offered their solutions for retention, including compensation, career growth opportunities, agile scheduling, ability to offer support tools and resources, as well as a positive work environment. Part 1 and Part 2 are available to read online.

Now, we look towards the ‘big stay,’ as:

• Pay gains for job switchers are decreasing.
• The labor market is balancing. Open jobs are decreasing while potential applicants are increasing.
• Gen Z and millennials remaining at their jobs for 12 months or longer have seen the greatest pay increases as opposed to other generations of workers.
• Many Gen Z workers who switched jobs during the pandemic are regretful of their decision.

“Companies aren’t holding on to workers as tightly as they were before,” says Richardson. “There are no grand, romantic gestures in the labor market anymore.”