The Great Regret…?
In what has become known as The Great Resignation, almost 20 million Americans quit their jobs in the first half of 2022. That’s roughly double the rate of a decade ago, and we’ve delved into a number of the reasons why people are leaving: fear of catching Covid in the workplace, a desire to get away from increasingly rude customers, more pleasant experiences of working from home (or of working less, in general), and changes in priorities when it comes to work-life balance or personal fulfillment.
But we may be approaching a turning point. I know that my colleagues and I have wondered for some time just how long these workers can stay out of the job market, what spending changes the unemployed have had to make, and how ever-increasing inflation rates are impacting their accounts (and therefore their sense of financial security). It seemed unlikely this would be a permanent exodus, except for those who were nearing – or past – retirement age, a small number of the Great whole.
In a new survey shared this month, one-quarter of current job seekers wonder if quitting was the right move. Concerns range from signs that the job market is about to change (becoming tighter has companies look to cut costs while they compensate for inflation and decreased consumer spending) to dissatisfaction with their new job. 42% said their new positions, new bosses, or new corporate cultures just hadn’t lived up to their expectations. And a number of respondents noted they missed old colleagues and/or they realized their old job wasn’t really that bad after all.
So, what does this mean for you?
If you’re reading this as a representative (leader) of your company:
First, work to keep the people you have! I’ve spent a lot of time and content over the past two years on how to create a culture where your people will want to stay. Be sure you are doing these things (ensuring a feeling of belonging, providing career growth opportunities, generally being supportive, etc.).
Check in with your new hires on how they’re feeling and what they could use from you right now. (They’re unlikely to tell you they’re unhappy. You’re going to have to dig around for what you need to know.) Since people are missing old colleagues, it might make sense to create more opportunities for socializing – hosting activities like after-work happy hours, bowling nights, or family events (so they can mingle with coworkers while also not giving up valuable family time).
Ensure your managers know how to support their newest employees. Are they effectively showing they care? Are they fostering relationships among members of their team? Are they providing additional guidance, training, and even handholding – as needed – for each person to get solid footing in the company and in their role?
Assess your onboarding process. Were your recruiting efforts and marketing materials upfront and accurate? What language, tone, or visual cues might have been misleading to prospective candidates? How did you “spin” the job description, role, working environment, or culture to make it more appealing? In what ways might that have skewed new employees’ perceptions? How can you fix it so that your stated expectations are clearer for future employees’?
Make necessary changes. Schedule social events, revamp recruiting materials and processes, and coach managers in how to be better supporters. Make this part of your day-to-day culture. What else comes to mind for things that you can do right now to keep the people (old and new) that you have?
Lastly, if there are former employees you really miss, consider reaching out to them. It’s possible they miss you too and want to come back but are too afraid of rejection to ask. (And, even if they aren’t interested – or available – now, it’ll put you at the front of their mind in case they are in the future.)
And, if you’re one of those people who left, and you regret it, read my next post! I have some ideas and reassurance just for you.
You’ve got this! (But if you’d like to talk about it a little more anyway, I’m here. Just send a message through my contact page, and I’ll be in touch shortly.)