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The Great Resignation - Has This Trend Already Peaked in The UK?
By Lynne Dare, Operations Director, Mosaic Search
Has The Great Resignation that gripped the U.S. during the state of the pandemic already peaked in the UK?
If you’ve been keeping tabs on the news both in the UK and across the water in the United States, you’ll have likely heard about The Great Resignation. It’s a phenomenon that spread beyond the US, reaching the UK, Europe and elsewhere.
But, what’s it all about? Is it something that is likely to continue here in the United Kingdom? How will it change the employment landscape?
The Story Behind The Great Resignation
The Great Resignation, sometimes known as The Big Quit, refers to an economic trend dating back to the early part of 2021, where millions of people quit their jobs.
There’s no denying that the COVID-19 pandemic played a significant role in people resigning from their jobs en-masse. Many people got laid off, especially in the hospitality industry, which spurred others to quit their jobs for various reasons.
For example, some people had enough of their working conditions, especially if they had public-facing roles during the early part of the pandemic. Others had long-lasting job dissatisfaction, especially with salary stagnation.
The Great Resignation isn’t something that only occurred in the United States. It’s a trend mirrored in other nations, including the United Kingdom.
Has It Peaked In The UK?
You might think that with COVID-19 restrictions easing in Britain, The Great Resignation has peaked in the UK, and fewer people are quitting their jobs, and the truth is, it’s a trend that is set to continue.
According to an article in the Financial Times, the answer is no. In the UK, the government gave furlough payments to people unable to conduct their daily duties at work due to COVID-19 essentially closing down their employers during the lockdowns.
The article concludes that it’s too early to tell if the peak has been reached or not, partly because many people are still working from home despite relaxed COVID-19 restrictions at the time of writing.
The Knock-On Effect
It’s easy to assume that the only thing happening during The Great Resignation is people quitting their jobs. The truth is, such a mass exodus of employees has had a significant knock-on effect for businesses and other organisations across the UK.
There is now a significant talent shortage across various industries, particularly among senior-level employees. As a result, firms are on a recruitment drive to attract new talent to fill those roles.
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