BusinessBrief.com » ‘I quit!’ surpasses ‘You’re fired!’ for 1st time since ’08

‘I quit!’ surpasses ‘You’re fired!’ for 1st time since ’08

May 31, 2010 by Bob Hill
Posted in: Human Resources, In this week's e-newsletter, Latest News & Views


In February, for the first time since 2008, the number of employees who quit was higher than the number fired or laid off. The tables are turning.

Just over 1.8 million people voluntarily left their jobs in March. While that number is significantly lower than the pre-recession average of 2.7 million, it’s an uptick from the low point of 1.72 last October.

The statistics, recently released by the Bureau of Labor, show a reverse in employment trends that lasted more than 15 months.

According to a recent Right Management survey, 60% of employees plan to leave their current job as the economy improves. With a higher percentage of companies now hiring again, workers are finding they have more options.

Meanwhile, companies that have employed a more-with-less mentality will need to strike a balance in order to keep top talent from leaving.

Beyond that, there are a lot of employees who habitually jump from job to job to increase their earning potential and advance their careers. Most of those employees have been forced to accept their circumstances over the past few years, which means a lot of employees are now eager to test the job market.

One key takeaway: In a recent Dice.com survey, employees who wanted to leave were asked what would persuade them to stay if they found another opportunity. The top three answers:

  • 57% said nothing could convince them to stay
  • 42% said higher salary, and
  • 11% said a promotion.

Source: More Workers Start to Quit,” by Joe Light,” Wall Street Journal, 5/26/10.

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