40% Employees Who Quit Are Unhappy in Their New Jobs

For almost a year, companies worldwide have witnessed people leaving in record numbers to join other companies. And this trend is expected to continue for the next few months. People cited many reasons for leaving their jobs, such as pay and benefits, flexibility, and work culture. But how many people are happy with their decision to quit? Do people regret their decision now? And what do managers feel about it?Â

UKG recently conducted a study to understand this. One key finding was that more than 40% of the employees who quit felt they were better off in their previous job as they faced similar problems in the new ones in addition to unfamiliar faces and routines. Further, about 20% returned to their previous jobs, and more are considering it.

The following are a few more insights in detail.

See more: The Great Resignation: Retaining a Contingent Workforce in a Tight Talent Market

More Than 40% Of Employees Regret Their Decision To Quit

Changing a job may make people excited or regret their decision. While many people were satisfied in their new roles, it was not sunshine and roses for others. A significant percentage of people who quit regretted their decision. About 47% of respondents said they missed their old job on some days. Of those not fully satisfied with their new jobs, 62% said their previous job was better than the current one. About 43% globally said they were better off in their old job, while 41% said they quit their job too quickly.

What do people miss the most about their previous job? About 38% said it was their peers/colleagues, 31% said it was the comfort in their role, and 22% said they missed the customers they served.

Perception Difference Exists Between the People Who Quit and Their Managers

There are several differences between what managers think about why their reportees quit and why people actually quit their jobs. While salary was the top reason everyone agreed on, there were certain differences. The following are the differences between the managers’ and employees’ reasons.

Managers Believe They Tried To Retain Employees

Organizations and managers do not want to lose valuable talent. According to the study, many managers believed they put in an effort to retain their employees, and 75% said their organizations supported in some way to retain good employees. Yet, managers overestimate how difficult it is for employees to quit. About 60% of them felt job changers made the wrong decision in quitting.

There are also certain differences in how much effort managers think they put in and how much effort employees perceive. For example, 91% of managers thought they created an environment where employees felt comfortable communicating their frustrations. However, only 64% of employees thought so. Similarly, 81% of managers felt the company had created an environment where employees could communicate their concerns openly, whereas only 59% of employees thought so.

Managers, Too, Plan To Quit â€” And the Reasons Are Not Much Different

Managers are the key to employee retention. Yet, they, too, are facing the burden of the Great Resignation. They also had a significant burden placed on them during the pandemic. For example, they had to become health and safety enforcers and readjust their schedules and styles to adapt to various working environments and people’s needs. All these reasons have led to many managers considering quitting.

The study found that 40% of managers worldwide are considering quitting. And the reasons were not much different from the one’s employees gave. The top five reasons for quitting include:

Pay/compensation (68%)
Lack of career development opportunities (65%)
Frustration with executive leadership (63%)
Poor work-life balance/burnout (63%)Â
Do not feel valued or they belong (62%)

Mass Resignations Maybe Leading to Mass Returns

The mass resignations may be leading to a phenomenon of mass returns. The study found that 20% of the people who quit their earlier jobs during the pandemic already boomeranged back to their earlier jobs. Among those who have not returned, 41% would consider returning to the job they quit if they had an option. One reason is that many of them are dissatisfied with their new jobs and roles.Â

There was also a strong connection between a supportive manager and an employee’s willingness to return. About 66% of boomeranged employees trusted their manager enough to discuss potentially leaving when they started thinking about quitting. About 77% of boomeranged employees said their managers had put effort into keeping them, and 77% said their managers had conducted at least one stay interview.

If companies and managers have to take advantage of people’s willingness to return, they must make the first move and reach out to their former employees.

Stay Interviews Can Impact Retention and Returns

Stay interviews are casual discussions with employees to understand the reasons for staying in the company. They try to understand what employees like about the company, what makes their job satisfying, and what other areas they are interested in, among other things. People managers who conduct periodic stay interviews are known to build a culture of belonging, open communication, and loyalty. While stay interviews are not the silver bullet for employee retention, almost 40% of people who quit and did not have a stay interview said that it would have impacted retention.

Further, of the people who quit, those who had stay interviews were more likely to miss their previous jobs or feel they were better off in their previous job.

See more: A CEO’s Guide To Hiring and Retaining Talent in a Job Seeker’s Market

What Managers and Employees Can DoÂ

While pay is the top reason people quit their jobs, other things matter as well. About 20% of people who quit took a pay cut to move on. Employees said their previous companies/managers could have done a few things besides increasing pay. For example, 28% felt the company could have increased their benefits, while 25% thought they could have been offered a title change or promotion. About 24% felt their workload could have been reduced by hiring additional support.

Here are a few more things managers can do:

Provide avenues for open and honest discussions
Make more time to manage
Encourage employees to be transparent about their job search
Show that they are putting efforts into making changes
Make the first move and stay in touch with good ex-employees so that if the need arises, they can return

Employees, too, can take a few steps.Â

Communicate wants and needs early, often, and tactfully
Take ownership of their career
Let managers know when they start looking elsewhere
Give them reasonable time to make a change
Not burn the bridge and keep in touch

In essence, besides other things, such as offering a pay hike and fixing their work culture, managers and organizations must create an environment where there is trust and open communication, and employees can discuss their frustrations openly. Employees, too, should be communicative and create trust with their managers. These steps can reduce regrets and have a significant positive impact on employee retention and even possible returns in these testing times.

What steps have you taken to create an environment of trust and open communication in your organization? Let us know on FacebookOpens a new window , TwitterOpens a new window , and LinkedInOpens a new window .