Martin Gilbert: Dealing with the 'Great Resignation'

Asset managers shouldn't get complacent

One of the themes of 2021 was that it was the year of the ‘Great Resignation’’ with workers quitting their jobs at historic levels.

This was most pronounced in the US. Earlier this month the Labor Department reported that in November 4.5 million people quit their jobs. At the end of December there were 10.6 million job openings versus 6.9 million unemployed people.  Similarly, according to the ONS's Labour Force Survey, resignations in the UK are at their highest point on record. There are multiple reasons why people quit their jobs. Typically, it is an expression of optimism and there is certainly evidence of people moving to a similar role in the same industry for more money. The industries most affected by t...