Career Cloud analyzes labor statistics data to find correlations in pandemic response, employee retention
A new report from Career Cloud analyzes data from the U.S. Bureau of Labor Statistics to see how businesses in each state handled the pandemic and how that response impacted workers.
The report gives some perspective on the “Great Resignation.” According to the Bureau of Labor Statistics, 4.5 million Americans quit their jobs in November 2021, followed by another 4.3 million in December. A record number of jobs – 10.9 million – have remained unfilled since September. The bureau released this data last month.
Tennessee has one of the lowest percentage growths in average monthly quit rates in the nation at 20 percent. Nearby Kentucky, Virginia, and North Carolina were on the higher end of the spectrum with 31 percent, 33 percent, and 37 percent respectively.
Employers across the U.S. implemented changes as a result of the pandemic, including increased base wages, telework, and vaccine mandates. Career Cloud looked at eight different responses to the pandemic to determine which states had the most robust response. Tennessee scored a 7.25, placing it roughly in the middle of the pack (California rated highest with 10.19 points while North Dakota scored lowest with 4.91points). Tennessee did not rank in the top 10 of any of the business response categories, which included Health & Safety, Telework, Workplace Flexibility, and Wages.
Career Cloud looked at statistical correlations to help determine if these responses helped keep employees on board. Of the top 10 states with the lowest quite rates:
- Three were in the top 10 for Wages
- Five were in the top 10 for Flexibility
- Six were in the top 10 for Telework
- Eight were in the top 10 for Health & Safety
Although Tennessee was in the top five states with lowest percent change in quit rate, it was in neither the top highest nor lowest general quit rate.
Read the full report here.