Is Resignation Regret on the Rise?

Is Resignation Regret on the Rise?.

The ‘Great Resignation’ is showing no sign of slowing down, with record numbers of job seekers still leaving their roles across the UK. Our latest poll found over 50% of our audience have taken part in the ‘Great Resignation’, with 14% still deciding whether or not to leave their current role.

As people continue to seek new opportunities to match their post covid lifestyles, many are finding the grass is not always greener on the other side, with a Muse study finding that 72% of workers experienced surprise or regret when starting their new roles.

Why is resignation regret rising?

The Hot Job Market
Whilst jobs are at a record high in the UK, and workers are seeing their colleagues resign and move on to new opportunities, they themselves can feel a pressure to look elsewhere. Fear of missing out on a great opportunity whilst the job market is hot has led job seekers to leave their roles at a rate never witnessed before.

With the war in Ukraine and economic mismanagement causing stagflation in the UK economy; financial experts predict a recession in 2023. The impending recession may lead workers to rush into a new role whilst the job market is still in the candidates’ favour.

Negativity Bias
What is causing this high level of regret in people starting a new role? One explanation could simply be negativity bias, a cognitive bias that results in unfavourable events having a heavier effect on our psychological state than favourable events.

The catalyst for job hunting can often result from a series of negative events impacting work-life happiness. A series of negative events can lead to disregarding positives within a role. For example, lack of remoting working options, feelings of being underpaid, and a high workload. Instead of sitting down to work through these issues with their manager, people seek new roles elsewhere, as, within the current candidate-driven job market, that can be seen as the easier option.

When searching for new opportunities, people look for a business that solves the issues they are facing in their current role. Presuming that all the current positives will transition over too. However, this is not always the case, every business has its unique positives and negatives. Becoming blindsided by the perks they seek, employees are missing the red flags they should be wary of.

Nostalgia
Resign regret is nothing new, it is often caused by looking back at the positives and reminiscing over old colleagues and projects. Ever heard of the saying ‘looking back with rose-tinted glasses? A healthy level of nostalgia is a normal part of settling into a new role.

How to avoid regret

But let us say you’ve decided it’s time to move on. Before accepting a new job opportunity there are a few steps you should take to make sure you fully understand the company you are joining:

Check reviews
Search review sites like Indeed, Glassdoor, and Google reviews. By doing your background research you’ll find out how employees feel about the organisation, this is a great way to get a real sense of the business and its culture.

Have an in-person interview
Having the chance to look around the office and see a few faces will give you a great opportunity to get a feel for an organisation.

Check the company’s stability
Having a look at the company’s financial performance can give you a sense of the future of the business. This will give you an idea of the potential growth of your role in line with the business growth.
Find a role you love
With companies overpromising candidates due to a tight labour market and the record monthly resignations across the UK, resign regret looks to be well on the rise and may continue further in the future.

If you’re looking for a new role, and want to be certain in your decision, get in touch with our friendly teams who are on hand to help you find your ideal job.

Insights & Resources.

  • 30/06/22

    Pride Month Recap

    Find Out More
  • 28/06/22

    Is Hybrid Working Here To Stay?

    Find Out More
  • 23/06/22

    The Recruitment Co. named Crown Commercial Supplier for the RM6229 Permanent Framework

    Find Out More
  • 13/06/22

    Celebrating Pride with Lauren Smith

    Find Out More
  • 25/04/22

    The Recruitment Co. joins Equality and Inclusion Network

    Find Out More
  • 22/04/22

    Q&A with Corporate Sales Director – John Thompson

    Find Out More