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.
image: hibob.comThe study also shows a discrepancy in how HR leaders and hiring managers view employees. In the report by Zoe Haimovitch, the discrepancy is explained in this way. Haimovitch says, “HR leaders view roles based on org chart definitions, and hiring managers view roles according to responsibility.”
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.
image: hibob.com
Age Group
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%.
image: hibob.com
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%).
image: hibob.comFilling the vacated positions is a big problem as it takes 35% of the respondents 3-6 months to find a replacement. Another 30% say it takes 6-9 months, with 2% answering more than 12 months. Overall, the average time to replace someone is 5.4 months.
image: hibob.comThe survey was carried out with the participation of more than 1,000 US-based HR leaders and hiring managers. The goal was to find out about the current state of the great resignation for the companies they represent. Read the report for more on the great resignation.
Image: Depositphotos
This article, “Managers Leading the Great Resignation Movement, Report Finds” was first published on Small Business Trends
