A new Gallup analysis finds that 48% of America’s working population is actively job searching or watching for opportunities. Businesses are facing a staggeringly high quit rate — 3.6 million Americans resigned in May alone — and a record-high number of unfilled positions. And Gallup discovered that workers in all job categories, from customer-facing service roles to highly professional positions, are actively or passively job hunting at roughly the same rate.
Employee resignation and employee engagement
Unfortunately, most employees are not engaged or are actively disengaged. Gallup’s State of the Global Workplace: 2021 Report identified a global employee engagement rate of 20% — 34% in the U.S. and Canada. And disengagement is very costly.
- The lost productivity of not engaged and actively disengaged employees is equal to 18% of their annual salary.
- For a company of 10,000 employees with an average salary of $50,000 each, disengagement costs $60.3 million a year.
- Replacing workers requires one-half to two times the employee’s annual salary. So, it costs $9,000 a year to keep each disengaged worker and between $25,000 and $100,000 to replace them.
Considering that most of the currently employed are not engaged, each new hire is liable to land on a less-than-engaging team and probably won’t stay long.
Chosen excerpts by Job Market Monitor. Read the whole story @ The ‘Great Resignation’ Is Really the ‘Great Discontent’