Is employee retention improving? How 'the great resignation' is becoming 'the big stay'

In 2022, more than 50 million U.S. workers left their jobs, the highest number since the government started keeping track in 2000, leading economists to coin the term "the great resignation," according to a May 19 report from CNBC.

Healthcare leaders saw the impacts of the great resignation all throughout the pandemic and post-pandemic era, battling physician, nurse and administrator shortages. 

Now, after two years, the great resignation is fizzling out, making way for "the big stay," with fewer people quitting their jobs so far in 2023. 

In March, the number of quits decreased to 3.9 million, the lowest level since May 2021. In April, job switchers saw a pay boost of 13.2 percent year over year, the lowest pace of wage growth job switchers have seen since November 2021. 

Gen Zers and millennials could see the biggest pay gains for not quitting this year compared with older workers, according to the report. 

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.


Featured Webinars

Featured Whitepapers

Featured Podcast