Businesses spanning every industry have expressed concerns over labor shortages resulting from employee exodus.
But a new report from recruiting firm Heidrick & Struggles suggests that the "Great Resignation" isn’t just a phenomenon driven by the rank-and-file.
The number of companies who changed CEOs in the first half of 2021 more than doubled that which took place in the six-month period prior.
In fact, the number of new executives appointed so far in 2021 has surpassed pre-pandemic highs.
The firm called the switch to all-virtual communication “exhausting” for executives, suggesting some were looking for a career or lifestyle change.
Others may have been kept in place during the instability of the early pandemic but their companies now feel more ready to make a change.
Heidrick & Struggles believes the pace of this will only increase as executives who delayed retirement during the pandemic finally pull the plug.