Has The Great Resignation turned into The Great Regret?

Subhaan Malik our consultant managing the role

The “Great Resignation” promised career nirvana, but has this actually come to fruition for people? 

Several publications, from The Guardian to Forbes, report that around 20% of people who resigned from their jobs during the pandemic regret that decision. At the time, pundits and experts on LinkedIn were falling over themselves to explain why businesses were failing to retain their employees. Whilst businesses learnt a lot about employee engagement and retention during this period, there is still a long way to go, especially when you consider the severe candidate shortage we are currently experiencing. 

Business culture sets the tone 

Extensive research has been undertaken to understand why people left their jobs during the pandemic, and the findings are varied. For example, researchers at McKinsey found that employees wanted to feel valued by their employers and have meaningful interactions with their colleagues, not just functional transactions. Whereas research firm Gartner found that professionals were looking for greater flexibility and a more human-centric approach to work. 

However, one thing is clear: the pandemic highlighted the importance of business culture and the necessity to represent it accurately to prospective employees. A recent Harvard Business Review found that of those who moved roles during the pandemic, 30% had resigned within the first three months due to the mischaracterisation of the organisational culture. This sentiment is also supported by the job board, muse, which found that 72% of people who moved roles during the pandemic were disappointed in their new role and it was different from what they were led to believe.

Reacclimatising to work post-pandemic

People’s expectations around work are very different to what they were two years ago. They have adapted to a world where work/life balance takes precedence. No matter what, the pandemic has left a positive legacy, with flexible and home working becoming a commonplace. 

However, the great resignation left people wanting more: higher pay, increased flexibility and a more fulfilling role. But, this is at odds with employers’ requirements. We can see this through candidate behaviour, with 58% of people wanting to work at home full-time post-pandemic. Moreover, Forbes reports that even applicants searching for traditional client-facing roles are requesting to work from home full-time. The magazine explains that professionals believe work should fit around the lives they’ve carved out for themselves during the pandemic, but the fact is, that isn’t always possible.

Young people are feeling regret more sharply  

It is no surprise that Gen Z, people born after 1996, place enormous significance on workplace culture. And it will be even less surprising to discover that they are at the forefront of The Great Resignation and The Great Regret, with research finding that 65% of those under 25 in the workforce plan to leave their jobs this year. There are several nuanced reasons why, but the ultimate takeaway is that they will keep searching for a new role until they find one that lets them operate on their own terms

What does this mean for the future? 

Employers need to take a step back and reflect on the past two years. Many businesses went through dramatic transformation projects in a matter of weeks. This is no small feat and probably a distant memory for leaders. However, as people settle into the post-pandemic way of operating, you must optimise communication to effectively bring your people along with you.

Whatever the cause of the regret or disappointment many jobseekers are experiencing in the current market, honest, two-way communication can help prevent the crisis from further deepening.

Ultimately, employers must be transparent about their requirements, and employees need to be honest about their needs. Career nirvana will only be reached when both meet in the middle. But this will take time. As life resumes, the hope is that employees will find a better way of working that meets employers’ needs, while satisfying their desire for a healthier work-life balance and greater purpose. They adjusted during the pandemic, and they can do so again.

Our specialist consultants at Marks Sattin can find you the best finance and tech professionals

At Marks Sattin, we know that hiring the right people requires a methodical approach with a clear time-bound structure. Every aspect of our service - from sourcing and screening candidates to relationship building with clients and candidates - is approached with the utmost care and professionalism.

Our clients partner with us because they’re confident placing their trust in our process, and they continue these partnerships because we deliver the best candidates. No matter the level of candidate you’re searching for, whether you’re looking for an accounts assistant, a head of finance or an IT audit manager, we’ll tap into our strong database of quality candidates to make sure you find the person who is the best fit for your team.

Submit a brief, and we’ll be in touch right away to discuss how we can help you.

25/07/22
posts

Related articles

Adapting & Overcoming Post-Election Challenges in the UK Manufacturing Industry
Adapting & Overcoming Post-Election Challenges in the UK Manufacturing Industry

Teaser

General

Content Type

General

14/08/24

Summary

Our recent Manchester roundtable event, brought together industry leaders to discuss the implications of the General Election for UK manufacturing, along with other challenges the industry is cu

Teaser

Manchester Roundtable summary

Read full article
Jamie Miller

by

Jamie Miller

Jamie Miller

by

Jamie Miller

 IIM's Interim Management Annual Report 2024 is available to download
IIM's Interim Management Annual Report 2024 is available to download

Teaser

General

Content Type

General

14/08/24

Summary

We are proud to be affiliated with The Institute of Interim Management, the UK's only professional body for independent Interim professionals.  This year, we celebrate the 15th year of the IIM's

Teaser

The Institute of Interim Management publishes its report of the Interim Market

Read full article
Subhaan Malik

by

Subhaan Malik

Subhaan Malik

by

Subhaan Malik

London SMES are increasingly reliant on temporary workers
London SMES are increasingly reliant on temporary workers

Teaser

General

Content Type

General

06/06/24

Summary

According to research from Sonovate London SMES have become increasingly reliant on temporary workers. New research has revealed that there has been an increase in reliance from small and medi

Teaser

Are London SMEs increasingly reliant on temporary workers?

Read full article
Jamie Smith

by

Jamie Smith

Jamie Smith

by

Jamie Smith

jobs

Related jobs

Head of FP&A

Salary:

£75,000 - £85,000 per annum + plus benefits

Location:

Coventry, West Midlands

Industry

Business Services

Qualification

Fully qualified

Market

Commerce & Industry

Salary

£80,000 - £100,000

Job Discipline

Qualified Finance

Contract Type:

Permanent

Description

Marks Sattin are working with a reputable multisite organisation in Coventry to recruit a Head of FP&A.

Reference

BBBH179456

Expiry Date

01/01/01

Anthony Mills

Author

Anthony Mills
Find out more
Financial Reporting Accountant (ACA / ACCA Qualified)

Salary:

£50,000 - £55,000 per annum

Location:

Birmingham, West Midlands

Industry

Consumer & Retail

Qualification

Finalist / Newly qualified

Market

Commerce & Industry

Salary

£50,000 - £60,000

Job Discipline

Qualified Finance

Newly Qualified Finance

Contract Type:

Permanent

Description

Marks Sattin are partnering with a leading organisation in Birmingham to recruit a Financial Reporting Accountant with IFRS and UK GAAP knowledge.

Reference

MS04101AM

Expiry Date

01/01/01

Anthony Mills

Author

Anthony Mills
Find out more
Financial Controller

Salary:

£75,000 - £85,000 per annum

Location:

North West England

Industry

Healthcare

Qualification

Fully qualified

Market

Commerce & Industry

Salary

£80,000 - £100,000

Job Discipline

Qualified Finance

Contract Type:

Permanent

Description

Exciting Financial Controller role working for a fast-growing healthcare business offering remote working paying up to £85,000 + package.

Reference

BBBH181961

Expiry Date

01/01/01

Nathan  Jones

Author

Nathan Jones
Find out more
Finance Business Partner

Salary:

£75,000 - £80,000 per annum + £5,500 car allowance + benefits

Location:

Warrington, Cheshire

Industry

Manufacturing

Qualification

Fully qualified

Market

Commerce & Industry

Salary

£80,000 - £100,000

Job Discipline

Qualified Finance

Contract Type:

Permanent

Description

Exciting Finance Business Partner role for a leading manufacturing organisation based in Warrington paying up to £80,000 + £5,500 car allowance.

Reference

BBBH181887

Expiry Date

01/01/01

Nathan  Jones

Author

Nathan Jones
Find out more
Financial Planning and Analysis Manager

Salary:

£70,000 - £78,000 per annum + £6,600 car allowance and benefits

Location:

Oldham, Greater Manchester

Industry

Manufacturing

Qualification

Fully qualified

Market

Commerce & Industry

Salary

£70,000 - £80,000

Job Discipline

Qualified Finance

Contract Type:

Permanent

Description

FPA Manager role working for a well-established international business paying up to £78,000 + car allowance based in Oldham.

Reference

BBBH181733

Expiry Date

01/01/01

Nathan  Jones

Author

Nathan Jones
Find out more
Head of Finance

Salary:

€90,000 - €100,000 per annum

Location:

Amsterdam, North Holland

Industry

Technology

Qualification

Fully qualified

Market

Commerce & Industry

Salary

£80,000 - £100,000

Job Discipline

Qualified Finance

Contract Type:

Permanent

Description

Voor een scale up binnen de licht technologie zijn wij opzoek naar een Head of Finance die dit bedrijf op financieel gebied gaat leiden en sparringpartner zal worden van de CEO en de oprichter.

Reference

BBBH182022

Expiry Date

01/01/01

Guido Buwalda

Author

Guido Buwalda
Find out more
Junior Finance Business Partner

Salary:

Negotiable

Location:

Carterton, Oxfordshire

Industry

Energy, Resources and Industrial

Qualification

Finalist / Newly qualified

Market

Commerce & Industry

Salary

£40,000 - £50,000

Job Discipline

Part Qualified & Transactional Finance

Contract Type:

Permanent

Description

Financial analysis, reporting and aiding decision making! Exposure to business partnering! £40k to £45k - West Oxfordshire - 2 days in the office

Reference

BBBH181643

Expiry Date

01/01/01

Craig Kilminster Find out more
Payroller

Salary:

£25,000 - £26,000 per annum

Location:

Barnsley, South Yorkshire

Industry

Business Services

Qualification

None specified

Market

Commerce & Industry

Salary

£25,000 - £30,000

Job Discipline

Part Qualified & Transactional Finance

Contract Type:

Permanent

Description

Marks Sattin are currently recruiting a Payroller on behalf of a Business Services Provider based in Barnsley.

Reference

BBBH182133

Expiry Date

01/01/01

Yasmin Clough

Author

Yasmin Clough
Find out more
Embedded C/C++ Software Engineer

Salary:

£60 - £70 per hour + Umbrella Company

Location:

Bristol

Industry

Manufacturing

Qualification

None specified

Market

Commerce & Industry

Salary

£350 - £450

Job Discipline

Software Development

Contract Type:

Contract

Description

An Embedded C/C++ Software Engineer contract job with a Defence client based in Bristol.

Reference

BBBH182135

Expiry Date

01/01/01

Alex Dando

Author

Alex Dando
Alex Dando

Author

Alex Dando
Find out more
Purchase Ledger clerk

Salary:

£25,000 - £27,000 per annum

Location:

Wakefield, West Yorkshire

Industry

Business Services

Qualification

None specified

Market

Commerce & Industry

Salary

£25,000 - £30,000

Job Discipline

Part Qualified & Transactional Finance

Contract Type:

Permanent

Description

Purchase Ledger clerk - Wakefield - £27k

Reference

BBBH182115

Expiry Date

01/01/01

Cameron  Walsh

Author

Cameron Walsh
Find out more
View all jobs