Employees Still Quitting Jobs at High Rate

employees quitting jobs at a high rate

The number of employees still quitting their job remains at high. According to recent date from Gusto, providers of a cloud-based payroll, benefits and HR management software, quit rates in November this year stood at 3.4%, well above the 2.7% in November 2020.

The figures are based on the US Bureau of Labor Statistics’ latest Job Opening and Labor Turnover Summary (JOLTS).

The Great Resignation? Employees Still Quitting Jobs at High Rate

The ‘A Real-Time Look at The ‘Great Resignation’: November 2021’ report found that among workers at businesses on the Gusto platform, the quit rate had decreased slightly for a third month in a row since an all time high of 5% in August. In October, the number of employees leaving their job had gone down to 3.6% and, in November, the figure stood at 3.4%.

Despite the drop in the rate of workers quitting their job in recent months, it Is still significantly above the rate in November 2020, when the figure was 2.7%.

For small business owners, the report makes interesting reading. With quit rates remaining high, small businesses would be wise to dedicate time and attention to improving their work culture to help boost morale among workers and stop them from quitting.

Quitting by Industry

The report also looks at the different industries quit rates, with some sectors being more susceptible to workers leaving their jobs than others.

Luke Pardue, economist at Gusto, who researches how public policies help small businesses and their workers thrive, lists the industries that are experiencing the highest number of quitting staff.

“The highest quits rates in November were seen in Accommodations (7.7%), Food & Beverage (7.0%), and Facilities (7.1%). This is the third straight month these sectors have experienced the highest quit rates, which reflects an economy-wide shift underway, as workers leave service-sector jobs in search of job opportunities with more flexibility and higher pay,” writes Pardue.

This is interesting for small businesses operating in the service-sector industry. To help prevent employees from leaving their job to go elsewhere, service-sector employers may want to consider reassessing their pay packages and offer workers the greater they flexibility they demand.

Within the service-sector, businesses that offer personal services such as accommodations and food and drink, have been hit the hardest by employees leaving and searching other opportunities.

Quitting Jobs by State

The research also looks at the quit rates of each state, which is also important for small businesses considering relocating or choosing a location to start up.

Idaho was found to have the largest number of ‘quitters’, standing at a rate of 7.% in November. This was followed by Iowa and then Montana which had quit rates of 5.2% and 5.0% respectively.

Quitting Still Driven by Women

The report also shows that the gender gap in quit rates remains, with women consistently leaving their roles at higher rates. In November this year, 3.73% or women quit the work, compared to 3.1% of men.

Image: Depositphotos

This article, "Employees Still Quitting Jobs at High Rate" was first published on Small Business Trends



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