Return-to-office plans could start another round of resignations

The phenomenon of Great Resignation swept through America and it has changed the workforce, leading to higher wages and better benefits. It has left its mark on the country's high inflation rate. But as return-to-office plans call employees back to their offices, their attitude to in-person work, pay and job switching may also have changed. 

Prospects of better pay and wages have encouraged many workers to look around for other jobs. The number of workers quitting their jobs reached a record high in November. All these workers who applied for different jobs have caused wage competition between companies, pushing salaries up for employees. In turn, these higher wages have pushed inflation even higher. According to a new report from the Federal Reserve Bank of Chicago, the great resignation contributed one percentage point to last year's inflation rate. 

Meanwhile, the country has far more empty job openings to fill. As of December, there were 11 million job openings. In other words, there were 58 unemployed workers for every 100 openings. Economist Julia Pollak says, "March 1 is the new return-to-office date for many companies. Those that are requiring employees to come back to the office five days a week are experiencing a bigger backlash than they had anticipated—so much so that the Great Resignation could accelerate in the coming months."

Source: CNN