02-09-2023
According to CNBC, 2022 brought another record for employees leaving their positions, with approximately 50 million throughout the year. The publication says 47 million employees quit the year before. The "Great Resignation," which started in April 2021, has seen more than 4 million U.S. workers quit their jobs every month. These employees leave for higher pay and better working conditions. Paychex, a human resources and payroll company, reports 80% of employees it surveyed regretted their decision. In its survey of 825 employees and 354 employers, the company found Gen Zers were the most likely to regret their job change, as they reported the lowest levels of positive mental health and work-life balance. Of those individuals surveyed, each person found another job, with only 11% more likely to have increased satisfaction with their new salaries. 50% of the respondents needed three to six months to find a new position, and another 39% took seven months or longer. Paychex asked the employers how they felt about bringing some of these workers back. Up to 70% of the employers either wanted to give or did give these employees their former jobs. 60% of the smaller employers were willing to offer increased benefits, like raises, remote work, and flexible hours.
However, the online education service, Cengage Group, conducted its own survey with different results. Their study showed an average of 81% of individuals did not regret leaving their previous job, and 85% expressed satisfaction in their new roles. Cengage conducted a similar survey a year before and found these employees were split down the middle as to whether they would remain in the same industry or move on. Tech workers appeared the happiest with their new positions, with healthcare workers the least happy at 69%. Cengage reports that tech workers were happiest when employers offered training opportunities. These figures contradict the numbers found by Paychex and other surveys, like Muse. Muse found three-quarters of workers experienced "surprise or regret" that their new position/new company turned out to be different from what they thought, with half of those workers seeking to get their old jobs back.
While there is mixed data on how employees perceive their decision to leave, U.S. job numbers show that there are many more open jobs than people to fill them, leaving employees with options.