They say that before making any major life decisions, including those in business, you should STOP (hungry, angry, lonely, tired).
But it’s doubtful that the 47 million Americans who quit their jobs during the pandemic (according to the US Department of Labor’s most recent Job Openings and Labor Turnover report) paused to examine their motivations.
Or whether the 20% of workers worldwide who plan to change jobs within the next 12 months (according to PwC’s Global Workforce Hopes and Fears Survey of more than 52,000 workers worldwide, conducted in March 2022) will do the same.
Statistics show that a third of those who took advantage of the Great Retirement did so for financial reasons, while the remaining two-thirds realized as the pandemic progressed that they wanted a deeper sense of satisfaction and flexibility from their careers. And so they jumped.
Now, new research from McKinsey shows that 40% of those who changed jobs in the last six months regret it and are already looking for other new roles.
“The Great Regret” as it is called, mixed with a tight job market, is overriding the existing career rules that we have built our entire professional lives around. Rules like: Spend at least 12 months in a role before switching; give a new job at least three to six months before deciding it’s not for you; and worrying about how the job change will look on your resume. Those old-fashioned career dictates are no longer followed, and with good reason.
We have learned a lot about ourselves and what we want for our private and professional lives during the pandemic. The acceptance of hybrid working as the new norm is just one example of systemic change being driven by workers.
How, where, when and why we do business has changed forever. And so does our approach to job search, career development and corporate culture. “Good” is no longer good enough as a description for a job. So for those who jumped in the last 18 months and regret it, take everything you’ve learned and get back out there.
There are many roles available on the Fintech futures job boardbut before you change jobs again, consider the following:
Learn from your mistakes
What do you dislike about this role: is it the work or is it the culture? If this is a position similar to your last position, your day-to-day duties should be similar and your workload manageable. If you have advanced to the next level, then acknowledge that it will take time to get used to the additional responsibilities.
There’s no shame in admitting that you need extra support, and in fact it’s a sign of good leadership to ask for help rather than suffer in silence and let projects or larger teams suffer.
However, a culture conflict is a bit more difficult to resolve. So before you move again, compare the culture between this company and your last one and find out the differences. And don’t be afraid to look at the personal aspects.
Did you know that for 70% of people, friends at work make the difference between being happy or not (according to HubSpot/Officevibe)? If you were at your last company for several years, it will be difficult to repeat the depth of your friendships and understanding of company culture. Difficult, not impossible, but it will take time. That said, if you want to make friends, be proactive. Go to the office one extra day a week. Ask colleagues for coffee. Learn more about her personal life. It’s the small interactions between meetings and assignments that can make a role more enjoyable.
You are bored? Did you think the problem was your previous role or employer, but the problem is actually you? If so, it might be time to step up. Can you apply for higher positions and use this period of transition as an opportunity to present yourself more as a leader in a new environment?
Use your current role as an opportunity to gather examples of your leadership skills, so step out of your comfort zone and take on new projects, start working a little more collaboratively with colleagues, and most importantly, start accounting for all your accomplishments you have leadership examples for your new job interview in time.
Explore new ways
No matter what decision or realization you come to, the fact remains that you need to look for a new role and break new ground. A good starting point is the Fintech futures job board which includes both available roles and company profiles, meaning you get a feel for an employer even before you apply for a role.
When you get an interview for a new role, don’t be afraid to ask the “Why do you want to leave your current role?” question. Be honest. Explain that you moved for X and Y reasons and after settling in found that it didn’t fit with your preferred way of working. Now you’re hoping to find a new role in a company that will empower you to be your best.