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Avoid "Great Resignation" Regret

Bloomberg recently reported that 42% of recent hires have said that their new job has not lived up to what they expected. The reasons for their disappointment vary but include:

  • Unhappy with company culture at new job

  • Dislike the new management

  • Miss their previous co-workers

  • Recognize that the old job wasn't as bad as they thought it was

  • Find the new job is not what they anticipated it would be

Many workers have taken advantage of the "Great Resignation" to switch roles in hopes that they improve their work situation, so it is alarming to see reports that just under half of those people are disappointed in the job they accepted!

In this article we will examine a few red flags job seekers should be paying attention to in hopes of preventing current candidates from accepting roles that they will find disappointing.

Examine Why the Company is Hiring

Are they hiring because they are growing and expanding? Maybe the company got a new contract and they need more employees in order to be able to fulfill their obligation. Or the new product they recently released is taking off and they are adding more manufacturing capability. These are great reasons for a company to hire and are not reasons for alarm.

What is the alternative? If the company is not growing, but they have lots of job openings, it may be that they are losing employees rapidly. Therefore they need to back fill the openings that are left by those departing. This may indicate that the company is not employee-friendly. Maybe the company culture is not ideal, or the work-life balance is not acceptable. If current workers are taking advantage of the job market to leave in droves, you should take a close look before you join the business.

If possible, you may also want to try to determine how long the average employee has been at the company. In businesses that are not desirable to work for, turnover rates are high. So, if everyone seems to be a newbie in a business that is not new, it may be reason for concern.

What Do Their Words and Actions Indicate?

Pay attention to the words and actions of those that interview you. Do they mention that the team is lean or everyone has a lot of roles? Are they desperate to get you on board? Do they express excitement and optimism about the company, or do they come across as tired and unenthusiastic?

Often in an interview, the job candidate is so concerned about themselves and their own performance that they forget to pay attention to the cues the interviewer is giving. Keep in mind that the interview is an opportunity for you to determine if the job will be the right fit for you. Not only should you ask questions of your own, but you should also pay attention to the way the interviewer is talking and what they are saying about the role and the company. You want to know what you will be getting into so you can be sure you will not be disappointed you made the switch.

Full Benefits Package

Some people who have switched roles during the "Great Resignation" thought they were getting more money and therefore improving their financial situation, only to find out that some of the benefits were not as good. For example, a person that accepted a position with a higher salary may actually end up bringing home less money because the cost of health care under the new company increased. Be sure to thoroughly evaluate the full package you are being offered before deciding if you should accept the job offer. We have written more extensively on this topic in our blog titled "While the Economy Seems to be Speeding Up, You Should Consider Slowing Down."

Another Concern: Rescinded Offers

Unfortunately, we are hearing is that some companies have recently been rescinding offers. This can be especially painful for a job seeker that put in a resignation at a stable position and -- days before starting a new role -- finds out they are out of work and unable to pay the bills. Why is this happening? With the increase in inflation and concern of a potential upcoming recession, some companies are changing their mind about hiring after they have offered employment. Although not common, it is something to consider as you are pursuing an opening. During the interview process, try to gauge how healthy the company is. You can ask questions about how many people they are currently in the process of hiring. You can even request a clause be put in the contract before you sign it to protect yourself. This may be especially helpful for someone that is relocating for the new role. A job offer isn't generally considered a legal agreement but if you request that a written signed offer be provided and that it include how the new company plans to compensate you for your relocation expenses, you may successfully mitigate some risk.

Realizing that "Great Resignation" regret is fairly common and paying attention to the issues mentioned above may help you avoid winding up in this unfortunate situation. The job search is stressful and you don't want to end up looking for a new job within a few months or a year of obtaining a position.

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