The "Turnover Tsunami"
Businesses nationwide are hiring at a record pace. Employees are reevaluating their priorities, and looking for new positions that fit a post-pandemic lifestyle. Many report an altered value system shaped by a year of reflection. In fact, experts warn that a “tsunami of turnover” is coming at a time when competition for talent is fierce and many companies are still recovering from the financial impacts of the pandemic.
The pandemic magnified the critical infrastructure role that childcare plays in supporting parents, businesses, and the economy. At the start of 2021, ten million mothers of school-age children remained out of the workforce according to a report from the U.S. Census Bureau, an increase of 1.4 million over 2020. Many cited the need to provide care for their children as the reason for being unemployed.