More than half of employees surveyed in North America plan to look for a new job in 2021, according to a new report, while separate research shows that a quarter of workers plan to quit their jobs outright once the COVID-19 pandemic subsides and recruiting efforts ramp up.
"There is absolutely pent-up turnover demand in the U.S. workforce," said Danny Nelms, president of The Work Institute, a research and consulting firm in Franklin, Tenn., focused on employee engagement and retention. "Just prior to the pandemic, you had about 3.5 million people leaving their jobs monthly, then that dropped to 1.9 million in April 2020. The projected number for December is 3.3 million, so we're already seeing a substantial return of voluntary turnover. It's only going to increase."
Nelms said that 2021 will see less labor force participation and unemployment and more job openings, which "will lead to the same supply and demand issues we had before the pandemic, putting an emphasis on recruiting and fueling voluntary turnover."
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