Great Resignation 2.0 could be on the horizon, with 3 in 10 workers planning to quit in 2024, survey shows
Low pay, desire for better benefits and search for less stressful work are some reasons behind the shift
Ramsey Solutions host Ken Coleman says employers will need to coach young workers more than in previous years.
The Great Resignation 2.0 could be on the horizon with nearly three in ten workers expected to quit their jobs by the end of 2024, and younger workers could be at the helm of the change.
Survey findings released by Resume Builder on Wednesday found that 28% of 1,000 full-time workers questioned plan to quit their jobs before the end of the year, with the highest percentage coming from the service industry and workers ages 18-34.
"Younger workers tend to switch jobs at a higher rate because they are trying to determine what type of function, industry, and environment would work best for them," Julia Toothacre, a career strategist at Resume Builder, said per a recent report detailing the data.
FEWER AMERICANS ARE CHANGING JOBS AS LABOR MARKET COOLS
Survey data from Resume Builder shows that 28% of respondents plan to quit their current job by the end of 2024. (iStock / iStock)
"Along with that, you can increase your salary quicker when you change jobs every few years, and those early career years are the best time to do that," she added.
These younger workers are eyeing a more comfortable spot in the workforce, with more than half of those dissatisfied with their current situation (56%) citing low pay as a culprit behind their interest in leaving.
Forty-four percent highlighted a "desire for better benefits" while the desire for less stressful work trailed slightly behind at 43% of respondents.
MAJORITY OF WORKERS REGRET QUITTING DURING ‘GREAT RESIGNATION’
Low pay was one of workers' top concerns listed, per 56% of survey respondents. (iStock / iStock)
Remote working options are another priority as workers eye their next role after quitting, and Toothacre says increased demands from the workforce could shift positions to more remote or hybrid offerings if finding candidates becomes difficult.
"This is an employer market, which is why you’re seeing so many RTO mandates. When the market shifts back to candidates, we’ll see more perks," she explained, per the report.
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Former Walmart president and CEO Bill Simon argues workers leaving their jobs is ‘unsettling’ for businesses.
Broken down into different numbers, 21% of respondents overall said they are "somewhat" likely to quit their jobs this year, with 7% considering themselves "highly likely" to make the change.
The first "Great Resignation" came after the COVID-19 pandemic when 47 million Americans quit their jobs in 2022 alone, leading many to regret the decision later, according to a survey published by Paychex in February 2023.
As companies return to the office, employees are taking on the workloads of those who took part in ‘the Great Resignation.’
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FOX Business' Megan Henney contributed to this report.