Workers Regret in Job Switching During Great Resignation: Poll

Last Updated on May 10, 2024 by Robert C. Hoopes

The pandemic-era Great Resignation has had a significant impact on job satisfaction, according to a recent survey by The Conference Board. The survey found that workers who switched jobs during this time were less satisfied than those who stayed with their employer in 2023, a stark contrast to the findings in 2022 when job switchers were more satisfied.

CEO Travis Lindemoen of an AI-powered recruiting firm pointed out that some workers may have been enticed by bigger paychecks and flashy titles, only to be disappointed by company culture or workload. This has led to job insecurity for newer employees, especially in high-growth companies where the adage of “Last in, first out” holds true.

The Great Resignation saw a record 4.5 million workers quitting their jobs each month, but a survey by payroll processing company Paychex revealed that 80% of those who quit during this time regretted their decision. Additionally, a survey by Microsoft and LinkedIn predicted that nearly half of all professionals are considering quitting their jobs in the coming year.

Recent data from the federal government has also shown signs of a potential softening in the labor market, with an increase in Americans applying for unemployment benefits. Weekly unemployment claims rose to their highest level in over eight months, and US employers added the fewest jobs in six months, leading to an increase in the unemployment rate to 3.9% and a decrease in the number of job openings.

These trends highlight the challenges faced by both workers and employers in navigating the evolving job market landscape during the Great Resignation. As workers weigh their options and companies reassess their hiring and retention strategies, the future of the workforce remains uncertain. Stay tuned for more updates on the changing dynamics of the job market on My MBA Career.