Why Are Workers Leaving Their Jobs, And How Is MSCI Helping?

Even though global economic growth has contracted, countries’ labor markets are still very tight. Workers are not hesitating to leave their jobs, or even the workforce altogether. Why? According to a McKinsey global survey, there are several factors contributing to the Great Resignation. Specifically, the survey found:

• 41 percent of workers who left their jobs said they did so because of a lack of career development opportunities;
• More than one-third, 36 percent, of workers who left cited inadequate compensation as their reason for resigning from their current position;
• 34 percent of those surveyed blamed uncaring or uninspiring leaders;
• 31 percent claimed lack of meaningful work; and
• 29 percent pointed to unsustainable work expectations.

Other reasons for leaving included unreliable or unsupportive colleagues, lack of workplace flexibility, and lack of support for health and well-being.

About two-thirds of the people who exited their jobs were Millennials, while one-third were members of Generation Z. To help address this issue, and to help provide development opportunities to Millennial and Gen Z industrial metals employees, MSCI is proud to announce the launch of its Forge Ahead Committee. These volunteers will lead MSCI’s Forge Ahead initiative, the goal of which is to forge relationships between Millennials and GenZs industrial metals employees — the people who are the future leaders of the metals industry.

Niomi Thomas, carbon flat roll buyer at Central Steel & Wire Company, will chair the committee alongside:

• Logan Baucum, account representative, Delta Steel, Inc.
• Nick Braden, inside sales representative, American Metals Corporation
• Jesse Casper, laser supervisor, Olympic Steel, Inc.
• Colton Karpus, chief executive officer, Diamond Brite Metals, LLC
• Ashley Lukowicz, account manager, TimkenSteel Corporation
• RJ Reed, national sales manager, Bystronic, Inc.
• Lauren Wiggins, communications manager, Kloeckner Metals Corporation

Click here to learn more about this committee, its work, and MSCI’s Forge Ahead initiative.