They say that before you make any big life decisions, including those in business, you should H.A.L.T. (hungry, angry, lonely, tired).
Yet it’s doubtful that the 47 million Americans who quit their job during the pandemic (according to the US Labour Department’s latest “Job Openings and Labour Turnover” report) were pausing to examine their motivations.
Or if the 20% of global workers planning to move roles within the next 12 months (according to PwC’s “Global Workforce Hopes and Fears Survey” of more than 52,000 workers globally, carried out in March 2022) are going to do the same.
Statistics show that of those who took advantage of the Great Resignation, the PwC found, one third did so for financial reasons, while the remaining two-thirds realised as the pandemic went on 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 switched jobs within the past six months are experiencing regret, and already looking for other new roles.
“The Great Regret”, as it is being dubbed, mixed with a tight labour market, is overriding the existing career rules we have based our whole professional lives on. Rules such as, spend at least 12 months in a role before you move on; give a new job at least three to six months before deciding it’s not for you; and fretting about how job switching looks on your CV. These old-fashioned career diktats are no longer being followed, and with good reason.
We learned a lot about ourselves and what we want from our personal and professional lives during the pandemic. The acceptance of hybrid working as the new norm is just one example of a systemic change led by workers.
How, where, when and why we do business has changed forever. And so has our approach to job hunting, career progression and company cultures. “Fine” is no longer a good enough description for a job. So for those who jumped during the past 18 months and are experiencing regret, take everything you’ve learned and get back out there.
There are plenty of available roles on the Fintech Futures Job Board, but before you change jobs again, keep the following things in mind:
Learn from your mistakes
What is it about this role that you don’t enjoy: Is it the work or is it the culture? If it’s a similar position to your last role then your day-to-day tasks should be similar and your workload should be manageable. If you stepped up to the next level, then acknowledge it’s going to take time to learn the ropes while dealing with added responsibility.
There is no shame in admitting that you need extra support, and actually a sign of good leadership is asking for help rather than suffering in silence, and allowing projects or wider teams to suffer.
A culture clash, however, is a little harder to fix. So, before you move again, compare the culture between this company and your last and figure out the differences. And don’t be afraid to look at the personal aspects.
Did you know that for 70% of people having friends in the workplace makes the difference between being happy or not (according to HubSpot/Officevibe)? If you were at your last company for several years, the depth of your friendships and understanding of company culture is going to be hard to replicate. Hard, not impossible, but it will take time. Which means if you want to make friends, be proactive. Go to the office an extra day a week. Ask colleagues for coffee. Learn about their personal lives. It’s the little interactions between meetings and tasks that can make a role more enjoyable.
Are you bored? Did you think that the problem was your previous role or employer but in actual fact the problem is you? If so, it could be time to level up. Can you start applying for more senior roles and using this time of transition as an opportunity to present yourself as more of a leader in a new setting?
Use your current role as a chance to pull together examples of your leadership abilities so step outside your comfort zone and take on new projects, start to work in a slightly more collaborative way with colleagues and most importantly, start to record all your wins so you have leadership examples in time for your new interview.
Explore new avenues
No matter what decision or realisation you come to, the fact remains that you are looking for a new role and so you need to explore new avenues. A great place to start is the Fintech Futures Job Board which has both available roles and company profiles, which means 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 shy away from the “Why are you looking to leave your current role?” question. Be honest. Explain that you moved for X and Y reason and once settled you realised it wasn’t a good fit for how you like to work. Now, you’re hoping to find a new role in a company that will empower you to do your best work.