The Great Resignation or The Big Burnout?

The Great Resignation might as well be called The Big Burnout – most workers that left their jobs during this time did so due to burnout. A recent report found that more than 1 in 4 workers left their job without having another job lined up.

In fact, in August not only did job openings decrease 5.9% when compared to July, but wokrers were quitting their jobs at a record rate. The ‘quits rate’, measurement of workers who leave jobs voluntarily, reached a record high of 2.9% in August, with 4.3 million people quitting their jobs.

Wondering if the skills and technologies wanted most have changed throughout the pandemic? Fiverr International listed the 10 fastest-growing skills and technologies on the platform, and a few may surprise you. These were included in their ‘Small Business Needs Index’ report:

• Shopify Sales Funnel; 235% increase in searches; earnings per project up to $2,195
• Amazon PPC Campaign; 171% increase in searches; earnings per project up to $10,000
• Online Course Content; 166% increase in searches; earnings per project up to $3,000
• Klaviyo; 139% increase in searches; earnings per project up to $2,000
• Kajabi; 135% increase in searches; earnings per project up to $800
• Landscape Design; 100% increase in searches; earnings per project up to $400
• GoHighLevel; 94% increase in searches; earnings per project up to $300
• Google Maps; 94% increase in searches; earnings per project up to $450
• Google Adwords; 93% increase in searches; earnings per project up to $8,500
• Facebook Page Creation; 90% increase in searches; earnings per project up to $1,450

Looking at just the US, the fastest-growing skill is Canva, up 79%. It was followed by “restaurant menu design,” up 57%, and SEO Shopify, up 45%.

As we hurtle toward the holiday season for 2021, employers are increasing their staffing to support the wave. In fact, employers have posted 19 million jobs between August and September of this year in this ramp-up, with 14 million of those job postings still open. Here are some of the most in-demand jobs for this holiday season as we close the year:

• Delivery drivers
• Retail associates
• Warehouse workers
• Servers and food service workers
• Hosts/hostesses
• Cleaners and housekeepers

Other than holiday hiring, the forecast for jobs growth is a bit slow for the next few months. Severe labor shortages continuing is expected primarily due to the summer surge in COVID-19 infections. Even as new cases decline, there is still a risk of infection so risk-averse consumers may continue to spend less on in-person services. As labor shortages continue, wages will continue to increase quickly as well…that could contribute to faster inflation and choke economic growth due to these labor supply constraints.

Speaking of inflation, more than half (60%) of CFOs responding to a recent survey said their organizations ‘experienced wage inflation in the second quarter of this year’. One recommendation to combat this is to hire across industries and beyond talent pools that are traditional sources for your organization. These talent pools could be contingent workers, freelancers or part-time workers.

Until next week,

Erin and Team BountyJobs