Employee Trends The Great Resignation Became the Great Regret At the peak of the Great Resignation, 48 million people quit their jobs in 2021. That continued in 2022, with more than 20 million Americans exiting their jobs in the first five months of the year. This signaled a seismic shift in the employer-employee power dynamic where job seekers have the upper hand in the labor market. But quick-decision quitting and hastily filling empty positions has led to big regret on both sides of the table. Approximately one in four employees originally lured away by high salaries, attractive signing bonuses, and ultra-competitive benefit packages, now say they regret their decision. Many have found their new jobs did not live up to expectations, they lack the support to perform their duties at the new company, or feel an overall misalignment of values and cultural fit with the new organization. A significant amount of these employees are on the job hunt again. Although we typically see a small percentage of employees return to old employers in any given year, we expect to see this situation appear more often as we enter 2023. While there are benefits of “boomerang employees,” we recommend that companies and hiring managers pause and use this opportunity to review exit data and understand why their talent left in the first place.
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