It’s been said that “quitters never win,” but we’re about to illustrate why this statement isn’t always true. Aside from the obvious, of course. People who stop smoking and drinking aren’t quitters in a negative sense of the word. Nor are the hundreds and thousands of employees in Texas who’ve recently made the decision to quit their jobs and join the Great Resignation. As the pandemic is about to enter its third calendar year, conditions brought about by the widespread disruption of commerce and industry have led millions of Americans to reconsider their lives, purpose, and even their careers.
According to the Bureau of Labor Statistics, Texas recently became the job-quitting capital of the U.S. North Texans are familiar with WFAA, the region’s local ABC affiliate. Business correspondent Jason Wheeler was credited with breaking this story and the numbers tell quite a tale.
As the year 2021 began going through close-out procedures, many tallies and totals were adding up to provide perspective on numerous trends and storylines. Among the top phenomena all year long was the story of the Great Resignation, which first appeared on employment tracking radar screens after a record four million employees quit their jobs in April. At the time, it was the largest jump since statistics have been tracked. The next month, the pace continued. And the next. At last check, which documents the number of combined resignations in the U.S., over 40 million Americans left their current jobs. And this only accounts for numbers reported by the end of October.
But now back to our neck of the woods. October’s numbers revealed another surprise, in that Texas had surpassed California for the most job resignations. It’s estimated that more than 455,000 Texans turned in their notices, even though the rest of the U.S. began to trend slightly downward as a whole. Not every job quitter is looking to become their own boss (though they should!), but the reasons provided in many an exit interview reveal that almost half want a salary increase. 40% report leaving their job for better benefits and working conditions, the same percentage that wish to work remotely instead of commuting to an office each day.
What does 2022 hold for Texas, the newly crowned capital of “Quitter, USA”? If a recent PricewaterhouseCoopers (PwC) survey is accurate, we can expect more of the same. The PwC U.S. Pulse Survey: Next in Work reveals that as many as 65% of the current workforce is considering a change. A similar survey by Robert Half predicts a lower percentage—41%, but that’s still a lot of employees who still wish to play the field as 2022 begins. In the end, it probably shouldn’t come as a big surprise that Texas leads the way in corporate resignations. Aside from our massive population and unlimited opportunities, Texans have always had that inherent streak of independence. Remember the Alamo, anyone?
If you’re among those employees currently pondering a change—perhaps to something more entrepreneurial—then let FranNet of DFW and Oklahoma provide you with a no-cost, no-obligation assist. If you have a desire to become your own boss, we can help you fulfill it. Each year, we help dozens of North Texans (and Oklahomans!) find a business to own and operate. We’d love to add your name to our client roster, so let us know what your lifestyle and income goals look like for 2022.