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The Great Regret

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Kevin Anderson's picture
President CVG

CVG is a leading North America workforce solutions provider to the Energy, Oil & Gas, Industrial and EPC industries. Kevin has had a lengthy and distinguished career that spans over 25 years...

  • Member since 2020
  • 17 items added with 24,717 views
  • Aug 15, 2022
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The wait is over. I have been waiting for over a year now for surveys on the Great Resignation movement, and those surveys are now starting to trickle in.

According to a recent survey by Joblist, about 26% of people who quit their job during what was dubbed the Great Resignation already regret it.

Additionally, 42% of people who found a new job after quitting said the new gig didn't live up to their expectations. 

The fact that workers regret quitting during the Great Resignation underscores a more significant issue: worker needs are not getting met. 

Not only is this a sign that the Great Regret is happening but also that workers are looking for a better workplace culture and are finding that these needs aren’t being met by either company.

Many employees had been lured away by promises of higher pay, better titles and better perks during the Great Resignation. Younger professionals, in particular, also had a "heightened expectation" to have more paid time off, schedule flexibility and meaningful work and were willing to make a change to attain these ideals and the new culture did not meet these expectations.

Ultimately, employees moving to new roles and new organizations are really looking for what makes them happy, and often the sentiment is that more money equals a happier life. For instance, sign-on bonuses seem great, but is it being offered because the organization's culture isn't one that cultivates value and fulfillment in its employees?

Conclusion:

To help retain employees, businesses have the responsibility to cultivate an environment of clarity, alignment and purpose that connects employees to business goals and objectives where they feel valued and trusted, but with exception that employees still need to produce work in a timely manner.

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Matt Chester's picture
Matt Chester on Aug 15, 2022

According to a recent survey by Joblist, about 26% of people who quit their job during what was dubbed the Great Resignation already regret it.

Additionally, 42% of people who found a new job after quitting said the new gig didn't live up to their expectations. 

No doubt notable numbers, and each of those are individuals who wouldn't have expected that outcome, but is it maybe more significant that a majority of people do not regret the move and found that the new job did live up? 

Jim Stack's picture
Jim Stack on Aug 17, 2022

I worked in telecommunications for most of my life. After 22 years in a land line major Telcom I switched to wireless cell phone companies. Last I switched to Satellite Telcom. Each change was fun and interesting. But after 42 years of working Holidays ,Weekends and being on call it was enough. Yet the most fun I had was volunteer work 1st for the Red Cross for 12 years as a hematron worker and DAT vehicle driver to aid victums of disasters. Also repairing talking books for the blind for 10 years. I still do a lot of volunteer work. 

Nevelyn Black's picture
Nevelyn Black on Aug 18, 2022

Curious, how many companies regret how they reacted or contributed to the Great Resignation?  In line with Jim Stack's comment, one article stated that employers who do not put emphasis on an employees’ physical, emotional, psychological, and financial well-being are not building an efficient workforce.  So much has changed in the last 2 years, how well are companies recruiting and retaining talent?  Can they incorporate more strategies or outreach programs to provide the same satisfaction people get from volunteering?

Audra Drazga's picture
Audra Drazga on Aug 19, 2022

Wow, the 26% statistic is crazy!  Thanks for sharing this with the community.  I am sure in the next year we will be hearing a lot more about this movement! 

According to a recent survey by Joblist, about 26% of people who quit their job during what was dubbed the Great Resignation already regret it.

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