Employment volatility up significantly in Q2; ‘Great Resignation’ will continue into fall

Employment volatility is up significantly in the second quarter, 69%, compared to the first, according to Workforce Logiq’s “Employee Predictive Volatility Benchmark Flash Report: Q2 2021.” Volatility is up 14% year over year, and the second quarter of 2020 was one of the most volatile times during the pandemic.

“As pandemic life recedes, US workers are actively rethinking their job and career choices and searching for roles that offer more money, flexibility, advancement opportunities and more, which is leading to a dramatic increase in employee resignations,” said Jim Burke, Workforce Logiq’s CEO. “Our quarterly and year-over-year predictive volatility benchmarks highlight the impact of this ‘Great Resignation’ period and indicate this trend will continue well into the fall.”

The report noted all 35 job categories tracked showed significantly increased volatility in the second quarter. The job category seeing the biggest increase in volatility in the second quarter from the first quarter was skilled trade, up 204%. However, when indexed to the average “likely to engage” score, skilled trade was down 69%.

Workforce Logiq’s “likely to engage” score predicts how much an employee will be interested in exploring other job opportunities or unsolicited recruiting messages.

Nursing’s likely to engage score rose 163% quarter over quarter in Q2 and was down 22% when indexed to the average. The lowest increase was in finance, which rose 47%; it was up 62% when indexed to the average.

Looking at scores by state, all states experience a significant increase in employee volatility in the second quarter compared to the first, up 45%.

Mississippi, the state with the highest quarterly volatility increase, also has the lowest vaccination rate. Its quarterly volatility rose 73% from the first quarter.

“When compared, there appears to be a correlation between state-specific vaccination rates and quarterly employment volatility (i.e. the lower the vaccination rate, the higher the employment volatility),” according to the report.

Workforce Logiq’s AI model tracks more than 2,000 events, triggers and shocks that can impact employment volatility, including macroeconomic trends, company-level social media and news sentiment, employee churn indicators (leadership changes, layoff announcements, job posting trends, job tenure, etc.), and other industry news and events. It does not use candidate-level social media, online search history or other personal, nonpublic information.

The original article can be found at: Staffing Industry Analysts