So far, 2021 has been another weird year. There are millions of jobs available to workers. But there are also a huge number of resignations. The hospitality industry has been hit harder than most with restaurants and bars struggling to attract workers. But what’s the catalyst for this so-called great resignation?

According to the International Labour Organization, there were 114 million job losses globally in 2020. This was an all-time record number of job losses. As of May 2021, the U.S. unemployment rate is at 5.8%, while the European is sitting at 8.0%. The jobless rate hit 14.8 percent in April 2020, the highest level since data was collected in 1948. Unemployment remained higher (5.8%) in May 2021 than it was in February 2020. (3.5 percent ).

The rate of resignations is increasing, indicating a high risk of turnover in the second-half of 2021. Experts in the fields of labor and the workplace have projected a surge in post-pandemic resignations. According to a workforce analytics organization, indicators suggest the “great resignation” is genuine and coming sooner than expected. Even during the pandemic, resignation rates increased significantly from July to September.

If you’re curious about the statistics behind why so many employees are quitting this year, check out the data points below.

Should you resign due to stress?

Employee Turnover Statistics

Every year, an average of 18% of a company’s personnel will leave. (Netsuite)

65 percent of tech workers believe they can find a better job. (Legal Jobs)

On average, a company will lose 6% of its workforce due to layoffs or bad performance. (Netsuite)

Low talent retention will cost the United States $430 billion per year by 2030. (Legal Jobs)

The average annual turnover rate for outstanding performers is currently at 3%. (Netsuite)

Employees that leave during the first year have a 10 times greater turnover rate. (Legal Jobs)

People, on average, do not stay in their jobs for very long. The BLS estimates that wage and salaried workers have been with their present employer for 4.1 years on average. Since 2018, this hasn’t changed much. Workers in the public sector have a longer average tenure, at 6.5 years. (Netsuite)

Companies that allow employees to work remotely have a 25% lower turnover rate. (Legal Jobs)

According to the Bureau of Labor Statistics, workers between the ages of 55 and 64 have an average tenure of 9.9 years. That’s more than quadruple the 2.8-year average tenure of workers aged 25 to 34. In January 2020, 54 percent of workers aged 60 to 64 had been with their present company for at least 10 years, compared to 10% of workers aged 30 to 34. (Netsuite)

Employee turnover has grown in recent years, according to 63 percent of CFOs. (Legal Jobs)

Teams of employees are calling it quits.

At the one-year milestone, 10 times as many employees quit than at the 5-year mark. (Netsuite)

Companies in Europe have a 4% lower turnover rate on average. (Legal Jobs)

Every year, organizations lose an average of 13% of their workforce because they opt to quit on their own. (Netsuite)

Workers in managerial and professional occupations had an average tenure of 4.9 years, with the longest tenures in engineering, legal, and architecture. With a typical tenure of 2.9 years, those in the service industry, which skews younger, had the shortest tenure. Foodservice employees had the shortest average tenure, at 1.9 years. (Netsuite)

Over the last five years, culture-related turnover could have cost businesses as much as $223 billion. (Netsuite)

Risk of Employee Turnover Statistics

More than a quarter of employees are at risk of being laid off. (Willis Towers Watson)

Over half of American workers feel they will be able to find a new job in the next six months if they lose their current one. (Glassdoor)

Resignations accounted for the biggest number of separations – 3.02 million, or 2.08 percent of total employment, according to the US Department of Labor Bureau of Labor Statistics.

In the preceding month, 46 percent of high-retention-risk employees utilized apps to find new jobs, compared to 13 percent of low-risk employees. (Willis Towers Watson)

Reducing turnover and preventing lost revenue, capacity, and/or incapacity to supply quality products and services has a 7-9 percent influence on top-line performance. (Sparkhound)

Dissatisfaction with compensation or perks (34 percent), not enough progression possibilities (33 percent), and a lack of learning and development (27 percent) are the top three reasons Generation Z (born between the mid-1990s and present) would leave their employment in the next two years. (Deloitte)

Hospitality is struggling to find workers.

The most commonly reported reasons for leaving a job are career growth (22 percent) and work-life balance (12 percent), and these figures are on the rise. (Work Institute)

Over 70% of high-retention-risk employees believe they will need to quit their company to develop their careers. (Willis Towers Watson)

Only around 1/9 of all separations are due to retirement or another type of planned separation, according to the US Department of Labor’s Bureau of Labor Statistics, while 6/10 are resignations and 3/10 are layoffs. (Hppy)

Nearly half (43%) of new employees quit within the first 90 days of their employment. (Work Institute)

Over a third of Black professionals (35%) want to leave their jobs within two years, compared to 27% of white professionals, with rates slightly higher for Black women (36%) than Black males (33 percent ). (Coqual)

At some point in their careers, 40% of employees have resigned on the spur of the moment. (Zippia)

Growth and development possibilities were highlighted by 25% of employees who cited career development as a motivation for leaving. (Work Institute)

Employees who do not have access to flexible time are twice as likely to express dissatisfaction. (Harvard Business Review)

At any given time, 51% of workers are actively looking for new job prospects. (The Digital Group)

Job Quitting Statistics from 2021 (So Far)

A quarter of workers (26%) say they dread going to work every day. (Netsuite)

3.5 million people resigned from their jobs at the start of 2020. (Work Institute)

Within the first six months after starting a new job, 31% of employees quit. (Legal Jobs)

Almost half of the employees say they will not resign until they have a new job lined up. While 22% are confident they will be able to find another job quickly if they quit sooner rather than later. Furthermore, 36% are willing to quit simply because they are dissatisfied with their current position. (Zippia)

In the United States, the overall quit rate is 2.3 percent, while the discharge rate is 1.2 percent. This translates to 3.4 million resignations and 1.8 million layoffs. (U.S. Bureau of Labor Statistics)

Burnout is a major cause of turnover, and toxic workplaces contribute to it. According to a recent survey, 74 percent of respondents had experienced job burnout. (Netsuite)

38 percent of employees who voluntarily resign do so to retire. (The QTI Group)

Employees that decided to leave in March 2020 accounted for 2,902,000 of the total turnovers. Meanwhile, there have been 13,046,000 layoffs and discharges, with 360 thousand other separations. (U.S. Bureau of Labor Statistics)

Employed in the restaurant industry.

Sixty-four percent of workers say they are considering leaving their employment. Of these, 13% do so regularly. (Zippia)

According to a 2019 survey, one of the primary reasons why American employees quit is to earn more money (25 percent ). This is followed by dissatisfaction with their current job (16%) and a desire to work for a company that shares their values (14 percent ). (Statista)

Employers could prevent 78 percent of typical reasons for employee turnover by addressing them. (Work Institute)

New job opportunities, according to 47 percent of HR professionals, are a greater motivator for employees to quit than job dissatisfaction. In reality, however, more than a third of workers report the inverse. (Monster)

Inadequate career development is cited as a reason for leaving by 21% of employees. (SHRM)

About a third of employees leave their jobs because they are unable to learn new skills, making a lack of career advancement one of the most common reasons for leaving. (Business Insider)

For employees who leave during their first 90 days at a business, the most common reason for leaving is professional development. (Work Institute)

Costs of labor.

Cost of Employee Turnover Statistics

Turnover and replacement expenses for a 100-person company with an average pay of $50,000 might be as much as $2.6 million per year. (Netsuite)

Over $630 billion has been spent in the United States on employee turnover. (Work Institute)

According to a Canadian poll on employee turnover, the cost of re