• 9964432222
  • Mail Us
  • Appointment
  • Locate Us
  • Chat Now
  • Courses
  • Login
  • Register
Manifest IAS
JournalsOfIndia
Manifest Learning Academy
  • Home
  • SNIPPETSfor Prelims
  • ARTICLESfor Mains
  • BROWSEBY SOURCE
  • DOWNLOADS
No Result
View All Result
  • Home
  • SNIPPETSfor Prelims
  • ARTICLESfor Mains
  • BROWSEBY SOURCE
  • DOWNLOADS
No Result
View All Result
JournalsOfIndia
No Result
View All Result
Home Economy

The Great Resignation

January 21, 2022
in Economy
Reading Time: 2 mins read
0
The Great Resignation
243
VIEWS
Share on WhatsAppShare on TelegramShare on Facebook
image_pdfMake PDF

In news- The Great Resignation, a new term came up in 2021 to capture the rising trend of employees leaving jobs.

What is the Great Resignation?

  • The Great Resignation, also known as the Big Quit, is an economic trend/ phenomenon in which a large number of employees voluntarily resign from their jobs after the COVID-19 pandemic ends.
  • It started when the American government refused to provide necessary worker protections in response to the COVID-19 pandemic, resulting in wage stagnation amid rising cost of living. 
  • Some economists have described the Great Resignation as a kind of general strike.
  • The term was coined by Anthony Klotz, a professor of management at Mays Business School at Texas A&M University, who predicted the mass exodus in May 2021.
  • It has largely been fuelled by burnout, but other factors also include the shift to working from home and the desire to move into a more stable profession.
  • In light of these resignations, the labour market has incentivised companies to offer better benefits and higher salaries. 
  • In 2020, the World Economic Forum surveyed 300 global companies and found that 43 per cent of business expect to reduce their workforce with new technology.
  • Providing opportunities for lateral job moves, healthy work culture, better workplace and offering employees more remote working opportunities are some of the solutions for this problem.

Trends in India & world-

  • Many studies have indicated that the pandemic is the single-biggest factor behind higher attrition rates, not only in the West but also in India.
  • India’s top IT company TCS’ attrition rate rose to 15.3% in Q3FY22 as compared to 11.9% in the previous quarter.
  • On the other hand, the country’s second largest IT firm Infosys’ voluntary attrition has risen to 25.5% in the third quarter from 20.1% in the September quarter and 11% year-on-year (YoY). 
  • Another IT giant Wipro’s attrition rose to 22.7% (voluntary TTM) on a trailing 12 month basis from 20.5% in the second quarter (QoQ).
  • Following the Great Resignation, the IT and technology sector is hiring at unprecedented rates with the top five IT companies hiring around 1.7 lakh people in 2021.
  • In 2020, resignation rates across the US plummeted due to the fear and uncertainty caused by the pandemic. 
  • However, one year later, as the workforce experienced a collective burnout, individuals left their jobs at unprecedented rates.
  • Estimates indicate that in total, 75.5 million people in America resigned in 2021.

 

image_pdfMake PDF
Source: The Indian Express
Tags: News PaperPrelims

Related Posts

GST Appellate Tribunal (GSTAT)

GST Appellate Tribunal (GSTAT)

March 28, 2023
Rubber board’s mobile app–CRISP

Rubber board’s mobile app–CRISP

March 28, 2023
IMF bailout

IMF bailout

March 28, 2023
Government removed the LTCG tax benefit from debt mutual funds

Government removed the LTCG tax benefit from debt mutual funds

March 25, 2023
Impact of Fed rate on the Economy

Impact of Fed rate on the Economy

March 24, 2023
World Happiness Report 2023

World Happiness Report 2023

March 23, 2023
Mundra Petrochemical project

Mundra Petrochemical project

March 21, 2023
IREDA gets ‘Infrastructure Finance Company’ status from RBI

IREDA gets ‘Infrastructure Finance Company’ status from RBI

March 15, 2023
Revamped MSME Competitive (LEAN) scheme

Revamped MSME Competitive (LEAN) scheme

March 14, 2023
Bhutan graduates from UN list of Least Developed Countries (LDC)

Bhutan graduates from UN list of Least Developed Countries (LDC)

March 13, 2023
Please login to join discussion

Our Offline Classroom Student

CONGRATULATIONS TO 2021 TOPPERS !!!

Rank 171 Kumar Shivashish
Rank 250 Sahithya
Rank 263 Sumit Kumar Thakur
Rank 311 Deepak Ramachandra Shet
Rank 455 Ravinandan B M

March 2023
MTWTFSS
 12345
6789101112
13141516171819
20212223242526
2728293031 
« Feb    

Browse by Category

  • Agriculture
  • Disaster Management
  • Economy
  • Environment
  • Ethics
  • Foreign Affairs
  • Geography
  • Governance
  • History
  • Law & Policy
  • Opinion
  • People in News
  • Places in News
  • Science & Tech
  • Security
  • Society
  • Sports
  • Uncategorized

Browse by Tags

AIR All India Radio BBC Business Line Business Standard dow Down to Earth DownToEarth DTE Economic Times ET FAO Financial Express GS-1 GS-2 GS-3 GS-4 Hindustan Times IE India & the world Indian express Indiatoday India today Kurukshetra Livelihoods portal LiveMint Mains News Newspaper News Paper PIB Prelims PRS India RSTV Science Reporter Survey The Hindu The India Express The Indian Express The Print the wire Times of India TOI TOPPERS Yojana
JournalsOfIndia

Our vision is to orient the readers to grasp the facts objectively and analyse critically. In the rush of reaching first to the readers, the websites miss the balanced opinion, which is the need of the hour. We aim to reach the readers with more crispness, preciseness and relevance. We bring the articles in UPSC way for the civil services aspirants and the Wisest Way for general readers.

Categories

  • Agriculture
  • Disaster Management
  • Economy
  • Environment
  • Ethics
  • Foreign Affairs
  • Geography
  • Governance
  • History
  • Law & Policy
  • Opinion
  • People in News
  • Places in News
  • Science & Tech
  • Security
  • Society
  • Sports
  • Uncategorized

Browse by Tag

AIR All India Radio BBC Business Line Business Standard dow Down to Earth DownToEarth DTE Economic Times ET FAO Financial Express GS-1 GS-2 GS-3 GS-4 Hindustan Times IE India & the world Indian express Indiatoday India today Kurukshetra Livelihoods portal LiveMint Mains News Newspaper News Paper PIB Prelims PRS India RSTV Science Reporter Survey The Hindu The India Express The Indian Express The Print the wire Times of India TOI TOPPERS Yojana

Newsletter

The most important UPSC news and events of the day.

Get Journals daily newsletter on your inbox.

© 2020 JournalsOfIndia - A free initiative by Manifest Team.

  • Login
  • Sign Up
  • Home
  • SNIPPETS
  • ARTICLES
  • BROWSE
  • DOWNLOADS
No Result
View All Result

© 2020 JournalsOfIndia - A free initiative by Manifest Team.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In