“Late Resignation” Hits Australia As 33% Of Workers Consider Quitting

Kirstie McDermott explores the “Late Resignation” trend in Australia caused by burnout and the high cost of living.

By now, you’ll have heard about the “Great Resignation”, a workforce sea-change that has its roots in the US during the pandemic.

First identified in 2021, the phenomenon is also known as the Big Quit or the Great Reshuffle, which saw over 47 million Americans voluntarily quit their jobs, according to the US Bureau of Labor Statistics. At the time, it represented an unprecedented mass exit from the workforce.

The trend was mostly US-based until 2022, when the Great Resignation spread to Europe and beyond. The ​​Organization for Economic Cooperation and Development (OECD), found that 20 million fewer people were in work compared to before the pandemic.

Another recent survey reported that 66% of company decision-makers in Germany are short of skilled workers, and in Singapore, 49% of workers say they’re considering leaving their employers too.

The Late Resignation

In Australia, the figures are now similar, in what’s being called the “Late Resignation”.

A 2023 report from the University of Melbourne and YouGov asked 1,400 workers across the country about their experiences of employment since the pandemic began. It found that one in two workers aged between 18 to 54 feel exhausted at work, and a third of workers under 54 are considering quitting their jobs.

Burnout is already a significant issue here. In 2021, a McKinsey study identified Australian workers as having the highest burnout rates in the world, with 61% saying they sometimes felt burned out.

The University of Melbourne and YouGov’s study had similar findings. Its report highlights that 73% of people with a chronic illness said that their health condition was caused or worsened by the stress associated with their job.

Around 20% say their chronic illness was entirely caused or worsened by their work, and more than half said that work partially caused, or worsened their health condition.

Cost of living

If exhaustion and burnout are causing Australian workers to quit their jobs, so too has the cost of living crisis. New data from the Australian Bureau of Statistics has found that working Australians have experienced the highest yearly jump in the cost of living on record.

The most recent Living Cost Indexes figures show all households saw increases in annual living costs in the March 2023 quarter, which ranged from 7.1% to 9.6%––higher than the 7% annual increase in the Consumer Price Index (CPI). In fact, the last time the CPI recorded an annual increase of 9.6% was in 1986.

Increasing disengagement from work and the need to earn more money to compensate for economic factors has seen many Australians looking for new opportunities.

If you’re looking to make a move within the beauty industry, then the best place to kick-start that search is on the Professional Beauty Job Board. It contains thousands of open roles all across the country, like the three below.

Store Manager, AESOP Corporate, Claremont

As a Store Manager, you’ll embody Aesop’s desire to engage, listen and guide customers. You will motivate and develop your team to drive overall store performance, and you will be responsible for budgeting, store-specific marketing, and building the store’s client base, as well as choreographing the daily activities of a team of retail consultants. You should be a skilled professional, able to grace this role with diligence, passion, and an unwavering commitment to excellence, have management experience within customer service environments, and a proven track record of effective selling skills. Get all the details here.

Territory Manager – Sydney Western Suburbs, Colgate-Palmolive, Sydney

As a Territory Manager you will be responsible for developing a range of diverse customers through your ability to build and maintain strong relationships and to influence key partners. You’ll manage your own territory autonomously day-to-day and will develop your insights and experience into the competitive fast moving consumer goods (FMCG). The ideal candidate will be university degree-qualified, and keen to learn and develop into a corporate leader of tomorrow. See all the details for this job now.

Digital & E-Commerce Manager, ModelCo, Sydney

Due to significant growth, ModelCo is seeking a talented, highly motivated and passionate Digital and E-Commerce Manager to join its growing team. This is a fantastic opportunity to work in an exciting high growth business, creating a global digital marketing strategy across scaling digital revenue in line with year-on-year KPIs. You will also have P&L ownership for the digital marketing department, ensuring profitability while achieving KPIs, and will lead, coach and mentor a team of high performers. You’ll need five or more years’ experience in a similar role, with proven experience scaling ecommerce brands’ revenue. Apply for this job today.

For thousands more opportunities across the beauty industry visit the Professional Beauty Job Board today

This article was produced in partnership with Jobbio.

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