I recall sitting with a group of small business owners in August of 2021. Before our meeting started, we were discussing the fact that so many businesses were struggling to find workers. At the time, most of these owners were convinced that it was unemployment benefits that were causing the shortage. I wasn't.
Have we seen more people enter the workforce since the pandemic benefits ended? Yep. But we have also seen that the great resignation has not only continued, but sped up. We are seeing people quit their jobs in droves - almost 10 million in less than 6 months. Some are leaving for better pay, but we aren't seeing huge increases in pay across the board.
Most are leaving because of working conditions. Bad managers, bad situations, little appreciation or respect, etc. It isn't a short-term thing - this is a transformational time in the world of business. All businesses, regardless of size, better take time to figure out how to keep workers engaged - realizing pay won't solve everything - or they risk becoming obsolete soon.