80% of workers who quit in ‘great resignation’ regret it: new survey
The “big leave” is the latest workplace trend sweeping the country, with the majority of professionals leaving their jobs in the past year, according to a new survey.
2022 was another record year for layoffs — 4.1 million workers quit their jobs in December, bringing the total for the year to over 50 million. About 47 million left a year ago, citing higher wages and better working conditions as incentives to leave. Now, 8 out of 10 professionals who quit their jobs regret their decision, a new Paychex study finds.
Paychex surveyed 825 employees who left during the “Great Resignation” and 354 employers to analyze the impact of the exit spree and gauge employee job satisfaction.
They found that mental health, work-life balance, workplace relationships and re-employment all suffered as a result.
Gen Zers are fighting harder
According to Paychex, Gen Z workers remember their old jobs the most. 89% of Gen Zers say they regret quitting and their mental health is declining as a result.
The “big resignation” has led to many regrets from employees looking for new opportunities. Among those regrets, employees were more likely to miss their coworkers,” Jeff Williams, vice president of enterprise and human resources solutions at Paychex, told CNBC Make It. “These friendships create a sense of community among employees, creating a positive company culture—another thing employees lacked in their previous jobs.”
“Our research found that 9 in 10 people reported changing industries after resigning, and professionals who changed industries were 25% more likely than workers who stayed in the same industry to regret their choice. Gen Zers were more likely to to lose their office jobs. , and Gen Xers lacked the most work-life balance from their previous jobs.”
Apparently, the job benefits, perks, and culture that made the new workers join the Great Resignation are not enough to keep them satisfied.
“Despite satisfaction with mental health and work-life balance influencing many resignations, only around half of our survey respondents said they were satisfied with their mental health (54%) and work-life balance (43%) in their new workplace. , Gen Zers reported the lowest levels of positive mental health and work-life balance.”
No loyalty, no agency
While most employers say they are open to re-hiring job seekers, some are more hesitant, questioning the loyalty of boomerang workers.
When asked if they would be willing to rehire employees who left during the Great Resignation, 27% of employees said yes and that they have already rehired at least one former employee. Forty-three percent said yes, but they have not yet been rehired, and 30% said no.
“Anecdotally, we believe more employers than ever are open-minded to the idea of ’boomerang’ employees returning to the company,” explains Williams. “Tight labor markets, specialized skills, time to performance and knowledge of the quality of work expected are all cited as reasons by hiring managers. Those reluctant to re-hire emphasize loyalty, expected compensation and suspicion fundamental to the employee’s motives.”
“Many employers either want to give or have given people their jobs back, with medium-sized businesses more likely to have done so already. But for others, loyalty in the workplace appears to be preventing employers from ‘welcome at all. Returning employees got a 7% raise, but 38% of employers were unwilling to offer new benefits to former employees. Nearly a third of employers would not consider giving people their jobs back their and blue-collar employers are 17% more likely than white-collar employers. feel that way.”
Turning over a new leaf
It’s natural to spend time reminiscing about the good old days, but Williams advises workers not to dwell on the past for too long.
“Nostalgia is the enemy of growth. Be realistic and move on if your former employer won’t hire you again. Know your worth, be confident in who you are, and move on.”
As employees figure out how to turn over a new leaf, Williams suggests “starting with a fresh perspective on what you control.”
“For example, you control having a trusted friend review your resume. You control making connections on LinkedIn. You control going to networking events, taking a night course to improve your skills, and giving yourself grace in your search.”
Williams also says that workers should try to avoid adding jobs in the future to restore “stability” to your resume, and that while things may look bleak now, it won’t last forever.
“The Great Resignation changed not only the workplace, but also the minds of those looking for better job opportunities. The good news is that there is hope for those who want to work, who have changed their minds about their decision to give resignation. Many employers are willing to rehire people and improve their benefits as well.”
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