Millions of people quit their jobs in the first quarter of 2022. A large portion of these individuals are reportedly regretting this choice. Let’s take a look at the reasons behind The Great Resignation and how it has affected the current job market.
The Great Resignation
Early in 2022, people were quitting their jobs in unprecedented numbers. What caused this mass exodus? An article written by Alex Tanzi for aljazeera.com states, “The surge in resignations has been linked to Covid risks in the workplace, new opportunities created by work-from-home, and a general sense that Americans have been rethinking their professional lives amid the turmoil of a pandemic. The level of job quits this year is roughly double what it was a decade ago.”
According to a study done of roughly 15,000 job seekers, more than a quarter of people who left their jobs during the Great Resignation regret their decision. Many more are reconsidering whether or not they made the right choice.
There are a number of different reasons why job seekers are questioning their choices. First, the economy looks very different now than it did at the beginning of the year. As our country heads towards a recession, people are scrambling to find work that will help them whether the storm. The job market is projected to get worse over the next few months and job security is something people are searching hard for.
Another reason many people regret quitting their jobs earlier this year is that their new employment hasn’t lived up to their expectations. They’re finding they don’t enjoy their new positions quite as much as they thought they would. Hindsight is always 20/20, right?
Lastly, social connection is another cause for regret. Many left behind coworkers and relationships at their previous jobs that meant a lot to them. When you work 40+ hours a week, chances are you’re spending more time with your coworkers than you are with some of your family and friends. You build strong, meaningful relationships that can be painful to let go of.
Levels of Regret
Not all regret can be measured the same. Some people miss their old jobs but know leaving was the right decision. Employees who left high stress jobs (in healthcare for example) were less likely to feel regret about their decision. In fact, the above mentioned study states that only 14% of those leaving stressful work environments question their decision.
As for the current market, there are still an unprecedented number of job openings. However, hiring has not kept pace with the number of positions available. It seems almost every establishment you patron remains short staffed. As we watch the economy for signs of a recession, it will be interesting to see how it affects the job market.
They say the grass isn’t always greener on the other side. It seems thousands of job seekers have had to learn that lesson the hard way.