A survey from the Muse found that 75% of people who switched jobs in the last 2 years regret it.
As a recruiter, here’s what I believe is driving these numbers:
Job-seekers are focused too much on compensation.
It is no secret at this point that job-hopping will enable you to earn significantly higher raises rather than sticking it out at your current employer. For many, this unfortunate truth is the catalyst behind prompting their search.
However.
The decision on where you work or what you do should not ultimately be decided by who’s got the biggest pocketbook.
I have made several job moves throughout my career.
The worst job I ever had was the one that offered me the biggest raise I’ve ever seen.
Compensation is very important in any job prospect, however it is not the most important.
What job-seekers need to evaluate is the intersection between where their skills and passions align, and seek opportunities within this space.
Compensation will come with job performance and engagement. Not the other way around.
We are still evaluating how to derive culture in a remote-first world.
Many employers have been strategically trying to bring employees back to the office.
Aside from the pressure to utilize the corporate real estate companies are contractually indebted to, employers are focused on cultivating and creating a corporate culture that can retain their talent.
The push and pull of the flexibility of remote work vs. the culture and learning advantages of in-office work environments is a major discussion point among senior leadership in Corporate America, and we have a ways to go before we have technology and solutions that get us to our preferred destination.
With so much transition in the workplace, newer employees are finding it increasingly challenging to have a sense of belonging and identity in this remote and hybrid environment.
Talent Drains are slowing development processes.
The Great Resignation provided a reckoning for employers who did not value their top talent equally to the market.
It also provoked many talented workers to exit industries all-together to chase new career paths entirely.
These two tailwinds ultimately left many organizations in disarray, with new managers and team structures left to train often-times newly hired associates with little experience to draw from.
This cocktail of new management and new employees has brought about difficulties in training and development, which are key areas for recent new-hires to evaluate whether or not they regret their job decisions.
With time these challenges will resolve themselves as employees get more comfortable in their role and learn their business.
Unless they decide to move again.
I predict that the recruitment and staffing market will remain strong over the coming years, regardless of an economic slowdown that many on Wall Street are predicting.
This is because even if we see slower economic growth and new jobs created in the economy, I believe that job turnover will still remain strong due to the market working through these factors discussed.
The way employees value their work has changed. Their relationship with work has changed. Society’s acceptance of time in role has changed. The effects of these shifting dynamics in the workforce will take years to play out, and we will need to adapt to the lessons these changes bring about as they come.
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If you are one of those 75% of people who regret their job move in the last few years, I’d be happy to discuss opportunities I am seeing in the market that could be interesting to you.
I work for Michael Page, one of the largest staffing and consulting agencies in the world, and specialize in financial services recruitment.
Our consultants are specialized in all areas of the market, from tech, finance, audit, construction and beyond.
I encourage you to connect with me on LinkedIn, I’d be happy to see how my network can be a resource to you.
My team and I are also hiring here at Michael Page, if you or someone you know are interested in a career in recruitment please connect with me or apply to the link below: