The Great Attrition

In a study by Linkedin¹, using data from Gallup, 17.2% of the US workforce is actively disengaged. And a disengaged employee costs an organisation approximately $3,400 for every $10,000 of salary.

In the UK, data from Croner² suggests the average cost of employee turnover is around 11,000 per person, and for senior staff that rises to anywhere between 40,000 - 100,000.

Sanjay Raja, chief UK economist at Deutsche Bank, has been quoted as saying there are "historically elevated levels of workers leaving the labour market entirely" with the level of resignations being the highest since 2009³.

This has become known as either The Great Resignation, or The Great Attrition.

Why are record levels of employees handing in their resignation?

It is no exaggeration to say Covid-19 has changed everything!

Unless you were an essential worker, for nigh on two years employees across the world were told to limit their contact with other people. Indeed, many across the world were specifically told to stay at home under lockdown conditions.

This had effects well beyond anything that might have been conceived of by politicians and health services.

The enforced isolation provided a breathing-space for employees to rethink their lives.

Tim Smith, Operations Director for Safecall, commented.

"The Covid-19 pandemic was the catalyst for employees to re-evaluate their working lives when they were being asked to return.

It enabled people to reassess what they wanted from life, and...

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