The Great Resignation shows no sign of stopping: In 2021, an average of nearly 4 million people left their jobs each month. And now, about 40 percent of workers are considering quitting their jobs in the next 3 to 6 months, according to a recent survey of more than 13,000 people across the globe between February and April by McKinsey and Co.
For meeting professionals who plan B2B and B2C events, the implications of the Great Resignation are huge. Not only do they face challenges with venue, vendor and meeting planner staffing, but a large portion of their databases have been severely impacted by all these job quitters and changers.
More than 4 in 5 marketers say that at least 20 percent of organizations’ email marketing databases are out of date, according to a report entitled, “How Has the Great Resignation Impacted Sales & Prospecting Data?” by the prospecting platform Outbase—and for a quarter of organizations, that number can be as high as 40 percent. And with predictions that Great Resignation is far from over, this percentage is likely to continue to rise.
“Email is the MVP when it comes to marketing: It goes right to the people it’s meant to, and it gets results. But marketers are missing out because their databases can’t keep up with the real world,” said Aline Dian, Outbase product marketing manager.
The implications for B2B events are even greater. B2B lead generation firm Cience cited in its blog a recent Gartner report stating that the data decay rate for B2B lists is estimated to have grown to 70.3 percent per year. “With the Great Reshuffle being as active as it is, data decay has the potential to become the next big pandemic for B2B marketers if not addressed properly,” said the author, Emanuel Valdés.
See Cience’s strategies for combating data decay here.
