People are quitting in droves for a variety of reasons, not just pay. According to a new Morning Consult poll of over 1,300 American workers who quit in the last year, while money was a primary concern for 63% of recent quitters, 53% listed family and personal commitments as reasons for leaving an old employer.
Burnout is also contributing to higher numbers of quits in certain industries, finds the study. Data shows that understaffing is driving burnout, which is leading to even more employees quitting.
“Insufficient labour places a significant burden on existing workers and can lead to burnout and a greater likelihood of quitting,” according to the study.
Between February and April, the share of workers who said their employer has too few workers to do the work that needs to be done was 46.8% in the food & beverage and leisure & hospitality industries, and 39.8% in retail.
During the period, 12.3% of US adults voluntarily quit or resigned from a job in the past 12 months. But this rate was even higher in certain industries: 16.1% of workers in information and technology and 16.7% of workers in food & beverage and leisure & hospitality voluntarily left a job in the past 12 months, according to the study.
Acute labour tightness in these industries has helped accelerate wage growth, job switching and renegotiations. In fact, the higher share of workers quitting in these industries corresponds with a higher incidence of workers asking for raises.
“In the current extremely tight labour environment, many companies are struggling to hire and retain workers. Successfully addressing these issues will require companies to balance both job flexibility and compensation with staffing needs,” suggests the study.
Morning Consult is a global decision intelligence company established in 2014 which offers insights into the drivers of topline employment figures.