- Firm quantifies the "Great Resignation" and the challenges
employers face attracting and retaining top talent
- Average budgeted employee salary increases reach 5.2
percent, up from 4.5 percent last year
CHICAGO, June 2, 2022
/PRNewswire/ -- Aon plc (NYSE: AON) reported a 41 percent
spike in voluntary employee departures last year amid the "Great
Resignation" in the United States,
according to data from the firm's Salary Increase and Turnover
Study. Aon, a leading global professional services firm, reported
21.8 percent of U.S. employees left their jobs in 2021, of which
17.2 percent departed voluntarily. In 2020, 19.7 percent left
employers, of which 11.9 percent departed voluntarily.
"The spike we've seen in voluntary departures quantifies the
challenges employers face during this period we call the 'Great
Resignation,'" said Michael Burke,
CEO for Human Capital Solutions at Aon. "Employers must look to the
underlying root cause and not merely treat the symptoms. They will
need to review total rewards strategies and look at resilience,
agility, wellbeing and purpose in order to retain and attract top
talent in their respective industries. A tight labor market will
continue to challenge employers in the near term."
Figures come from Aon's Human Capital Solutions bi-annual Salary
Increase and Turnover Study, which is a global survey of nearly
2,000 employers. The report provides insights on salary increases
and employee retention powered by industry-leading data and
analytics that reflects how broader economic circumstances impact
the talent landscape.
The study also shows:
- Average budgeted salary increases in 2022 reached 5.2 percent,
up from 4.5 percent last year in the U.S. This includes merit
raises and promotions.
- Forty percent of U.S. employers say they will hire aggressively
in 2022, while 46 percent plan to hire at a normal pace, 13 percent
will be very selective and 1 percent will freeze hiring.
- Energy (10.6 percent), construction (15 percent) and financial
services (15.6 percent) had the lowest voluntary departure rates
among industries measured.
The report includes measurable data samples from 10 industries,
which include business consulting, construction/real estate,
energy, entertainment, financial services, life sciences,
manufacturing, retail/hospitality, technology and
"We use these data insights to provide advice and solutions that
give employers from an array of industries the clarity and
confidence needed to make better decisions to protect and grow
their business," said Michael Deeks,
global head of the data business for Human Capital Solutions at
Aon. "It's a hot job market out there and as a result, we are
seeing turnover grow and many companies allocate more money in
their salary budgets."
To learn more about the report, click here.
Aon plc (NYSE: AON) exists to shape decisions for the better —
to protect and enrich the lives of people around the world. Our
colleagues provide our clients in over 120 countries with advice
and solutions that give them the clarity and confidence to make
better decisions to protect and grow their business.
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SOURCE Aon plc