As the Great Resignation has rolled along, you have likely seen a handful of articles written about surveys or studies showing that many people who quit their old jobs for news jobs have actually quit those new jobs for an even newer job.
That may sound, as some stories have spun it, like the people who quit now regret their decision to quit. Now, it’s entirely possible that some people do wish they hadn’t quit their old jobs, but that’s speculation unless the survey actually asked people that question.
Let’s take a look at one of the more recent surveys. Bloomberg has reported on data compiled by LinkedIn for people who took a new job in 2021. The data shows that among that group of more than 500,000, the number of people who had been in their previous job for less than 12 months grew by 6.5% compared to the year before. It’s apparently the highest the “job-jumping metric” has been since LinkedIn began tracking it in 2016.
“That helps explain why job openings remain at record highs in the country two years into the pandemic: A rising number of people who left their employers in search for better working conditions elsewhere reconsidered and quit again soon after,” the article states.
The article points to people pursuing higher pay as well as better benefits, such as more flexible hours or work-from-home options.
“Young Americans entering the workforce now are much more attuned to their mental health and would rather be happy than grind it out — a major cultural shift from generations’ past,” Bloomberg reports.
Anecdotally, those who end up leaving a new job did so for a number of reasons, such as not feeling like it was the right cultural fit or the workplace environment was actually worse than the one before. Others left because job hopping has been a proven way to earn even more, especially if you relocate.
Put yourself in their shoes. Your education, job skills and experience are in high demand. You’ve found a place with a better offer than what you have now. What are you going to do? At the very least, you’re going to consider it. If you do move on and find the new place isn’t exactly as promised, you might stick it out a bit longer, but you also have a good idea of what’s still out there and not exactly a lot of loyalty built in given your short amount of time there.
As the article stated, the pandemic has changed people. They’re more aware of their own health, mental and physical, and they’re more aware of the time they have and the time they’re spending at work.
What does that mean then? Well, it’s supply and demand. The workers are the supply, and demand for them is high. Workers are generally in a situation where they have more leverage than usual, so they’re going to take advantage of that. It’s a bit of a reversal from the employment situation during the Great Recession, when there were far more job candidates than there were job openings.
Has your company experienced lots of people quitting or new hires leaving shortly after starting? If so, this is time for self-reflection. What is it that your employees want but find is missing? Actually talk to your employees and give them the opportunity to provide feedback without the fear of any repercussions for any constructive criticism — a very real fear for some employees.
If they talk about pay, don’t dismiss them. We hear plenty about companies dealing with the cost of inflation, but remember that employees are dealing with it, too, in the form of gas prices, food prices, utility bills and rents. If they can’t afford to work for you, they’ll look somewhere else.
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