Filing the notice and parting with a job that’s not working for you can come with a rush of relief right now — but what about what comes after?

The “After” covers the slow and unfortunate transformation of the “Great Resignation” into the “Great Regret” for many people who quit work during the 2020 lockdown. We’ll take a close look at how filing these terminations became a regret for so many.

First, however, we will cover the reasons why the Great Resignation happened in the first place.

What drove the Great Resignation?

It’s much easier to understand how the Big Regret came about when you’re aware of the factors that drive people to quit in the first place. Therefore, we will go through this topic first.

The Great Resignation did not happen spontaneously. People left their jobs for several important reasons, many of which became more obvious (or urgent) due to the conditions set by lockdowns.

In many cases, employees felt they needed a better work-life balance remotely. Many people who have quit struggled with feelings of burnout, underpayment, or poor working conditions:

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As the chart above shows, more than a quarter of those who left their jobs did so not lined up a new position when they did this. As we shall see shortly, this plays a role in the Great Regret.

The key points to consider here are that the Great Resignation came about out of dissatisfaction. Whether people felt they needed a break, better pay, more time off work each day, or something else, most people who quit felt like something was missing or could be improved.

Now it’s time to see how these feelings of dissatisfaction haunted many of these people after they left their previous positions.

The Transition to Great Regrets

We alluded to the relief that can come from quitting a job that isn’t working. This rush was undoubtedly a driving factor in the Great Resignation period, but of course a rush cannot last forever.

As the immediate relief wore off, many former employees faced more problems than before they left. The aftermath of sudden resignations helped turn that relief into regret.

Negative impact on personal financial stability

Sure, some people went from a position that didn’t suit them to one that did — and those people probably aren’t part of the Big Regret. Others, as mentioned above, did not have a new job when they left their old job.

This had a major impact on their financial stability.

In particular, it was difficult for employees whose living situation depended entirely or mainly on their income from work. Where previously they could rely on a steady flow of cash to keep them afloat, that support suddenly fell away.

Not everyone who has given up has found themselves complete from a source of income of course. Despite this, these people have had to make a rapid transition to becoming dependent on sideline activities, part-time jobs, or even the income of partners or other loved ones. This change had a negative impact on her personal finances.

Unforeseen challenges of leaving a job prematurely

There are more consequences to quitting prematurely than the financial ones we’ve already discussed.

Finding a new job is a big challenge. Aside from the limited job openings, which we’ll get into in more detail in a moment, the question is what do you want. Maybe you knew the old job wasn’t right, but you don’t know what would be right for you, for example.

In addition, almost everyone had to stay at home almost all the time. That makes it a lot harder to connect with people in a new job when you’re successful in finding one that fits your needs and preferences.

Leaving a job prematurely also makes it harder to maintain connections you made at the old job. This means you miss out on networking opportunities and may find yourself socially isolating.

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Limited employment opportunities

With everyone working from home, by the time the Great Resignation occurred, many jobs were simply not available. Businesses also had to find replacements for human workers, compounding the problem of lack of job opportunities.

Take software testing, for example. If you’ve previously worked as a full-time software tester, you may find that your old role is now managed with automation testing – and that other companies are in similar positions. You would soon see your job opportunities shrink.

Countering the Great Regrets by building a great culture

So, given the consequences of the Great Regret, what should companies do to protect their employees from such negative experiences?

The simple answer is to prevent the Great Resignation in the first place.

As it turns out, that’s not just a distant goal, but a realistically achievable goal. By building a Great Culture, you can, if you will, create an environment that protects you from losing employees to future Great Resignations. In doing so, you also protect these employees from suffering through a major regret.

Offer training and personal development opportunities

When you give employees the tools they need to grow and thrive at work, they’re less likely to leave. It’s not a guess – this is what 21% of employees said when asked what might have prompted them to reconsider their position:

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Training helps employees learn how to achieve a streamlined workflow, streamline their day-to-day processes, and achieve better results. Each of these factors also benefits your business, which is another reason why training is so important.

Likewise, personal development opportunities enable employees to continue to grow and make a meaningful contribution to your company. This will keep them from becoming stagnant in their role and ensure they have a chance to advance to better positions within your organization.

Give your employees resources to start side hustles

This tip might not be that intuitive for employers – after all, you’re trying to help your employees be productive for your company, To the right? However, there’s more to a side hustle than meets the eye.

In a recent study, 61% said better work-life balance and personal well-being in the workplace are important. 58% of respondents said they want to use their skills and do what they do best.

By encouraging employees to follow their dreams and pursue projects they are passionate about, you show them that you care about both their personal and professional development. They also help them find the work-life balance that so many are looking for.

It can also be used to positively influence your business and its image. If you want to build a corporate social responsibility strategy and create positive change, you could work with your employees to support a worthy cause. Give your employees time and access to small nonprofit accounting software, project management tools, or advice on marketing their new business to help them support a charity they care about.

Employees feel valued, valued, and excited about a project they care about. They are also less likely to leave a company that sees them as an individual and not just another cog in a machine.

Acknowledge employee issues and take action

Your employees are not robots. They will inevitably experience problems and problems, and if you pay attention, you can drastically improve their work life.

For example, imagine your employees feel that your sick leave policy makes it impossible for them to prioritize their health. This leads them to keep looking for other jobs Do Let them take care of their health properly – or give it up right away.

You could choose not to change anything. Or, if you want to retain talent and avoid layoffs, you can revise your sick leave policy.

Aside from improving conditions for employees, this shows them that their voice counts. It’s the kind of culture that just can’t be bought, and it’s a key factor in helping employees avoid the regrets that come with leaving because they promised themselves something else.

Improve internal processes

Nobody likes clunky and time-consuming processes in their everyday work, least of all your employees. That’s why you need to streamline your internal operations.

By making sure your internal processes run smoothly, you reduce the likelihood of employee frustration building up. You also help them see the value of your business as they can tell your internal operations are getting better and better.

Make sure you have the right small business accounting software so you can pay your employees quickly and securely. Consider automating repetitive tasks to free up time that could be better spent elsewhere, and invest in the right communication platform so information can be shared quickly and easily.

Using the right tools will help ensure you’re maximizing productivity and streamlining every possible process. Your employees can then focus on the important tasks instead of struggling with outdated processes.

Screenshot from sage.com

Final Thoughts

The Great Resignation alone had the potential to be many things. For some, it represented a much-needed change to a routine that wasn’t working for them. For others, it would be a hasty decision with dire consequences.

The very fact that the term “great regret” caught on shows that many people have experienced those regrets and wished they had made different choices.

Businesses should take the Great Resignation as a cautionary tale. By building an amazing culture, they can prevent the Great Resignation from happening again—but they can also help their employees avoid the Great Regret that follows.