The “Great Resignation” as it is dubbed is not only taking place with young or entry-level workers. A new study by HiBob and Fiverr Business reveals managers and directors are leaving more than entry-level employees.
Managers Leading the Great Resignation Movement
The lure of flexibility and greater work/life balance is pushing the resignation trend even amongst experienced workers. According to the study, in the past six months of all the people that are quitting 46% hold positions as managers or directors. This is the highest amongst all entry (22%), mid-level (38%), executive (26%), and C-Suite (10%) positions.
Adding, “For example, a content marketing manager may not manage other people, but their responsibilities are essential to the marketing department. Hiring managers will consider content managers mid-level managers, but HR leaders will consider them individual contributors.” But this doesn’t take away from the resignation taking place.
When it comes to the roles of the people that have resigned, it covers the gamut. While HR professionals top the list at 23%, programmers/developers come in at 12% in the last position. With a gap of just 11%, the overall resignation taking place is almost the same across all positions. Furthermore, the report says turnover is almost the same across all industries. And with managers and directors making up the biggest group, the age is going to be higher.
At 56% people 36-45 years of age make up the largest group to leave organizations in the past six months. Those between 26-35 years are next at 37%, with 46-55 years at 23%, 18-25 years at 11%, and 56-65 years at 4%.
The Impact of the Resignations
Not surprisingly employee turnover will always affect business operations. As to the degree this is affecting the respondents in the survey, overall, 58% said it has a high impact on productivity. But a further breakdown reveals 34% say it doesn’t challenge their team’s productivity. On the other hand, 41% say it affects their team’s productivity to some extent, with another 14% responding it has a bad effect.
As for the organization as whole, 35% say they are incurring extra costs to onboard and train new employees, and a skill gap is created with another 35%. The turnovers also contribute to lower morale (33%), finding new recruits for replacement (31%), and increased workload until new hires are found (31%).
Get the latest headlines from Small Business Trends. Follow us on Google News.