The great resignation is turning into a ‘great regret’. Employers are getting involved too

When management professor Anthony Klotz coined the term “great resignation” in May 2021, he triggered a tsunami of think pieces. Experts have been debating this for the past year who was leaving and why And how companies should respond. While they’re bullshit dropping rates remain at historic highs, and even the managers (and pop stars) have joined in the great resignation.

But when an event goes on for long enough, the reaction is triggered. While we haven’t seen the end of our collective desire to take this job and give it away, new studies are showing that enough people have acted on impulse now that great resignations have begun to create “great regrets.”

The workers are unable to beat the grass.

This change is evidenced by a number of recent surveys and surveys showing that many workers who went looking for new pastures soon discovered that the grass was not actually greener on the other side of the fence.

A similar survey of 2,500 workers by job search site The Museum found that nearly three-quarters (72%) of them experienced either ‘surprise or regret’ about the new position or the new company they took their job for. Abandoned, she was ‘very’ different from what they believed. Nearly half (48%) of these said they would try to get their old jobs back.” UK reports Guardian,

Another poll commissioned by United States of America today It was found that only 26 percent of those who changed jobs preferred their new job enough to last. Jobist’s only slightly less pessimistic survey found that “a quarter of those who left their jobs during the pandemic now regret it,” According to Good luck,

eventually, a linkedin study Out of 500,000 job changes in 2021, the number of new employees who were in their previous position for less than a year increased by 6.5 percent from the previous year. This is another sign of constant employee restlessness.

Firms are also bearing the brunt of buyer’s remorse.

Many workers who act hastily during a pandemic or immediately after its most acute phase may have second thoughts. But it’s not just employees who are falling victim to the Great Regret. According to other reports, many employers are also regretting pandemic-era hiring decisions.

“Walmart’s in May” earnings callCEO Doug McMillan said the company’s ‘weeks of overstaffing’ cut profits. The company had earlier inducted new employees in 2021 to meet the COVID-19 staff shortage. It’s not the only one.” Notes Insider,

“Now that the economy is slowing down due to inflation, the war in Ukraine, and loss of consumer and investor confidence, companies Industries have already made cuts,” the article continues.

There is no going back to the status quo.

What does it have to do here? Data continues to show that workers are incredibly burned out and intolerant of toxic and exploitative cultures, so it’s certainly not a lesson for employers that you can go back to treating your people poorly now. .

“If the idea of ​​a ‘Great Regret’ made employers think we would return to the status quo, we wouldn’t. Workplace toxicity is fueling the mental health crisis facing American workers. The losers of the talent war will be those who fail to address it.” Head of a recruitment firm warns employers,

Nor is it a good time to start thinking about reducing employee costs. Data shows that salaries for recent job changers are 7 percent higher than those who haven’t made the jump on average, and inflation is squeezing the value of paychecks across the board. Loyal employees are eyeing colleagues leaving jobs and wondering if they’re missing out. Companies should be cautious about giving them anything else to rave about. Wharton professor Adam Grant has urged leaders to consider honoring long-serving employees with a ‘retention increase’.

So no, the Great Regret is not a license to be a venomous or cheapskate boss. What this national wave of resignations indicates is that many of us – both leaders and employees – have been too hasty to make decisions over the years. There’s certainly a good reason why our thinking isn’t clear, so moving forward we should all think a little more carefully before resigning or getting hired.

The opinions expressed here by Inc.com columnists are their own, not those of Inc.com.