“Great Resignation” Ripples Across Company Bottom Lines

75% of executives say The Great Resignation impacted their financial stability

(Moscow, Idaho) – The Great Resignation saw a record 48 million employees quit their jobs for different opportunities in 2021. While recent studies have highlighted how 80% of these job switchers now have regret, a new study has also quantified the real cost to businesses. According to the Predictive Index, a resignation, on average, costs companies $11,000 in replacement and lost productivity.

The survey also found that 1 in 5 workers have quit in the last six months, which means, if a company has 500 employees, and 100 of them quit, the real impact on the bottom line is $1.1 million.

“There’s a real cost to having workplaces where employees feel little-to-no attachment,” said RedBalloon CEO Andrew Crapuchettes. “Company culture is real, and creating exciting, innovative, and growth-oriented workplaces is a huge boost to employee retention. And, it can be a significant boost to the bottom line.”

“Companies are stretching to find creative solutions that beat the labor shortage, including a four-day work week, or improved benefits, or increased paid time-off,” continued Crapuchettes. “But, jobseekers who are coming to RedBalloon predominantly want a company where their work has meaning and is valued, and where they trust their employer to act fairly and honestly. Most want this more than they want higher pay. And, that likely explains much of the regret for those who left their previous jobs chasing a bigger paycheck.”

If you would like to interview Andrew Crapuchettes, contact Isaac Lopez at (208) 997 – 8013 or isaac@redballoon.work.

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RedBalloon CEO Andrew Crapuchettes is a longtime business leader, entrepreneur, and innovator in the technology industry. He has founded several successful tech-focused companies and is widely considered a global pioneer in the development and use of labor market data analytics – an industry he helped found over 20 years ago. He served as the founding CEO of Emsi (now Lightcast) - which brought market-changing innovations to how higher education, corporations, and governments approach the labor market.

In 2021, Andrew founded RedBalloon, which has quickly become America’s largest connectors of employers and job seekers who prioritize workplace culture. Crapuchettes’ is a frequent presenter at technology and business conferences, and a frequent guest on business and technology news and influencer podcasts.

To find out more, explore redballoon.work. For questions or interview requests, contact Isaac Lopez at isaac@redballoon.work.

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