With quit rates soaring, companies can’t afford to let lousy bosses be one more reason for workers to leave.
It’s being called the Great Resignation. Quits are at their highest rate in 20 years and no one seems to understand why. One thing is for sure: the labor market has gone weird. People are leaving their jobs without having a new one lined up, pushing up unemployment rates even as wages rise and companies complain they can’t find enough workers. That’s led to lots of speculation that the pandemic has changed people’s priorities — and hence the U.S. labor market — forever.
Allison Schrager is a senior fellow at the Manhattan Institute and a contributing editor of City Journal.
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