Good help continues to be hard to find and to hang onto. And it’s getting more expensive to do so.

Those are key takeaways from a series of recently released reports that include the Job Openings and Labor Turnover Summary (JOLTS), which revealed that the number of people who quit their job in the United States in November surged to a record monthly high of more than 4.5 million.

One factor in the quitting surge is reportedly a desire among would-be employees to find remote work positions, but there are other variables as well, analysts said.

“The Great Resignation shows no sign of abating, with quits hitting a new record. The question is why, and the answers are for starkly different reasons,” said Robert Frick, corporate economist at Navy Federal Credit Union, CNBC reported. “COVID-19 burnout and fear are continuing, but also, many Americans have the confidence to quit given the high level of job openings and rising pay.”

The desire for remote work is a key factor driving the "Great Resignation." Companies with staunch no-work-from-home policies may have to reconsider to attract and retain talent. https://t.co/E55lNgcGop#GreatResignation @ASI_MBell @asicentral @TheresaHegel

— Chris Ruvo (@ChrisR_ASI) December 3, 2021

The JOLTS report revealed that there were 10.6 million job openings in the U.S. in November, the most recent month for which the U.S. Bureau of Labor Statistics, which compiles the data, had information.

That was a decrease of about 529,000 openings from the month prior, but still near record highs. The job openings rate was 6.6%, a drop from about 7% in October but more than the 4.5% from the prior year. 

Meanwhile, a separate study showed that demand for workers may have increased in December. Estimates from job search site Indeed put the number of job openings in the U.S. at the end of last month at 12 million.

Studies indicate that there continues to be a disparity between the number of job openings and people actively looking for work, which makes hiring more difficult. For instance, federal government data showed that 6.88 million people were out of work and looking for a position in November – nearly 4 million people fewer than the total job openings that month.

Additionally, compensation costs have been rising amid inflationary pressures and as employers compete to attract quality workers. A new study from The Conference Board, a nonprofit nonpartisan think tank, revealed that companies are earmarking an average of 3.9% of total payroll for wage increases in 2022. That’s the largest increase since 2008.

“Organizations are planning on raising salary bands, resulting in higher minimum, median and maximum salaries for certain job titles,” The Wall Street Journal reported.

Labor shortages contributed to a variety of challenges in the promotional products industry in 2021. Those include supply chain disruption and higher compensation costs that have been key factors in promo product price increases and inventory shortages.

Still, the hiring and retention challenges have also opened the door to opportunities for promo pros, as clients across industries seek to use gifts of branded merchandise as part of intensified employee retention efforts.