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In April 2021, the United States saw a record number of people quitting their jobs. It was a higher number than any month on record. Then came July, and even more people chose to leave their jobs. August topped that number, and September, again, had an unprecedented number. We're witnessing the Great Resignation and, though it started months ago, it's until now that experts have been able to grasp the reasons why it's happening. Most importantly, companies now understand what they must do to keep motivation up and avoid attrition.
First, let's talk about the phenomenon itself. The main issue with how the media has tackled the Great Resignation is that it hasn't analyzed the situation in-depth. News coverage loves relating burnout in white-collar workers with this Big Quit when it isn't this way. So, who is leading this great resignation? Surveys from Cid Gallup show workers in lower-wage service work are a big part of this massive defection.
Look at the food-services and accommodation sector, which has seen more quits than any other part of the economy. This leads us to the part that is essential to understanding the Great Resignation, and that is that, in reality, the industry isn't losing jobs at a breakneck speed. In fact, it has added 2 million in 2021.
Let's zoom out from the hotel and restaurant industry and look at why people are quitting. Surveys have indicated that pay is still essential in keeping people happy. So, is the need for a new challenge and better perks. All these are logical, but they're not new. Perhaps, there's a more significant reason, and that's where you as an employer come in.
These past two years have changed how people see life and work. Employees want the certainty that, in the face of how unpredictable the future can be, companies will do their best to ensure a healthy balance between new challenges, stability, and, yes, better pay. As for the great resignation that we're seeing, let's rebrand it to something like the Great Turnover and, most importantly, let's accept that it's probably going to shape how people see jobs for a long time to come.
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Telegram CEO Pavel Durov announced plans to improve the platform's content moderation by removing features misused for illegal activities. This comes after his recent investigation in France, where he was questioned about crimes like fraud and sharing illicit content on Telegram. Durov stressed that while most users are not involved in criminal activity, a small fraction has damaged the platform's reputation.
Telegram has already taken steps by disabling new media uploads to a blogging tool exploited by anonymous users and removing a People Nearby feature due to problems with bots and scammers. Durov committed to further improving moderation, though he did not detail specific plans. These changes are Telegram's first response since Durov's arrest in France.
The investigation has raised questions about tech platforms' responsibility in controlling content and the legal risks for their leaders. Durov's lawyer argued that it's unfair to hold him accountable for others' actions on the platform, but experts like Katie Harbath caution that fixing content moderation will likely require more than minor adjustments. Read more!
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The first legally binding international AI treaty, the AI Convention, will be open for signing by countries including EU members, the U.S., and Britain. Developed by the Council of Europe and adopted in May after discussions among 57 nations, the treaty addresses AI-related risks while promoting responsible innovation, focusing on protecting human rights.
Britain’s justice minister, Shabana Mahmood, praised the Convention as a significant step in harnessing AI without compromising fundamental values like human rights and the rule of law. This treaty is separate from the EU AI Act, which regulates AI systems within the EU market. Read more!
SaaS Growth CalculatorThis is a growth calculator that lets you forecast the impact of your ARPU (average revenue per user) and Churn Rate on the long-term potential of your subscription business. |  |
In this video, Caya from Slidebean shares his experiences with startup accelerators like DreamIt Ventures, 500 Startups, and Startup Chile. He discusses the challenges, benefits, and why they joined multiple programs, offering advice on avoiding unnecessary equity dilution. We also compare top accelerators and share tips on funding, networking, and mentorship.
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