The Great Resignation 2.0 may be on the horizon, with an astonishing three out of ten workers planning to quit their jobs in 2024. The main reasons cited are low pay, a desire for better benefits, and the pursuit of less stressful work.
A survey released by Resume Builder in July 2024 found that 28% of the 1,000 full-time workers surveyed plan to quit their jobs before the end of the year. This trend is most pronounced in the service industry and among workers aged 18-34.
It has been observed for some time that younger workers switch jobs at a higher rate as they seek the best fit in terms of function, industry, and work environment. Gen Zers and millennials prioritize flexibility and work-life balance—notably, adults aged 35 and younger work an hour less per week than four years ago.
The highest mass resignation since 2019 occurred in 2023, and the trend continues to rise. In June, 3.9 million people quit their jobs, followed by another 3.9 million in July, and 4.3 million in August. This trend is particularly striking among young workers: in September, nearly a quarter of workers aged 20 to 34 were not part of the U.S. workforce—about 14 million Americans, according to the Bureau of Labor Statistics, who were neither working nor seeking employment.
For some, burnout is the primary reason. For others, the post-pandemic period provided an opportunity to focus on side projects. Many workers, especially in a service sector dominated by “zillennials” (those in their late 20s on the cusp of Gen Z and millennials), found poor treatment and low wages unsustainable. Meanwhile, an estimated 10.4 million jobs in the U.S. remain unfilled. This wave of resignations—dubbed the Great Resignation—gives young workers time to recover from pandemic burnout and untenable working conditions.
What does the future hold for those considering joining the Great Resignation 2.0? Will they live off savings until they run out? Will they use credit until they are overwhelmed with debt? Will they move back in with their parents?
Eventually, these individuals will need to find work somehow, somewhere. It is perplexing how the American Dream has come to suggest that success should come easily. In the past, we tolerated hard work and jobs that didn’t necessarily make us happy to provide for our families and save for the things that would bring us joy.
However, sooner or later, there will need to be a wake-up call for those coasting through life. The harsh reality of growing old and needing a plan for the future will eventually become unavoidable. That’s where we come in.
Business ownership offers a solution for those tired of low wages and unfulfilling jobs but still willing to work if the benefits are worthwhile. We help individuals plan and start a business from scratch. Additionally, we assist those interested in purchasing an existing successful business. For those without business experience but with a desire for entrepreneurship, we guide them in securing a franchise with a proven business model and a short learning curve.
If you’re ready to explore your options, book a time with us, and let us help you navigate the possibilities.
