Hello everyone and welcome to this episode of Ignition Time.
Over 70% of the unemployed actually regret participating in the great resignation.
What does this mean and how does this impact you?
That is going to be the focus of this episode of Ignition Time.
Welcome to our channel, everyone.
My name is Dr. Nitin Chhoda.
I cover important matters pertaining
to the country, the economy, as well as our money.
This episode of Ignition Time is based
on this article on your screen from Fox Business.
The Great Resignation.
Over 70% of workers regret quitting their jobs.
In fact, 80% of millennials and Gen Z
workers say it's okay to leave a new job in six months.
So what's happening, folks? The majority of American workers
who changed jobs during the great resignation actually regret quitting
and even felt a sense of remorse about quitting their job sooner or quitting
their job earlier than most would have anticipated.
So what's going on?
Seven out of ten workers, we're talking 72% admitted that they were
surprised to learn that their new roles or companies were different from what they
were led to believe during the interview process.
So they basically said, hey, I thought I was going to do something,
I signed up for something, but then I ended up doing something else.
This was based on a survey of more than
2500 millennials and Gen Z job seekers from the Muse.
In fact, the Muse CEO Kathryn Minshew described this trend as shift shock.
This is what Minshew told Fox Business,
they'll join a new company thinking it's
their dream job, and then there is a reality check.
So this is a very interesting situation, folks.
Let me know whether you've been in this situation because at the end of the day,
we all want a good job, but none of us want to be in a situation
where we say, hey, I thought it was something,
but then I ended up getting trapped in something that was completely different.
Let me know whether you agree or disagree with this, but the fact is that 70%
of individuals actually regret participating in a new job and then
they ended up essentially quitting their job.
And this again creates a vicious cycle
because it's not always easy to jump from one job to another.
So Minshew said as a direct result of their mismanaged expectations,
if you will, more people are quitting rather than sticking it out.
This is what Minshew said,
it used to be that if you started a new job and didn't like it,
you needed to stay for one or two years to avoid a black mark on your resume.
But we've seen a really interesting shift in perceptions,
in fact, 80% of millennials and Gen Z
workers say it's okay to leave a new job in six months if it's not as advertised.
So this is pretty interesting, folks.
A lot of people are essentially taking new
jobs, but then they're quitting and then they end up regretting taking the job
and then sometimes they even end up regretting quitting the job.
So this is a very unique phenomenon and in the end this is not a good thing if
someone really quit their job faster than anticipated.
In fact, Minshew explained that in some
cases, job seekers don't ask the right questions during the interview process.
Sometimes a recruiter might misinterpret the role or was extremely optimistic or
did their job selling the job, if you will.
In other words, the recruiter was extremely optimistic
about the company and tried to get the person to join.
So Minshew also acknowledged that,
"It's hard to assess the culture of a new company through Zoom."
Prior to the Pandemic, candidates would generally be able
to visit the office and this would allow them to understand the company culture.
Regardless, Manchester says it's a really damaging phenomenon where people are brand
new in our role and then suddenly realize it's not at all as advertised.
So what is happening folks?
About one in five job seekers actually
admitted that they would quit within a month if it's not as expected,
and 41% said they would give it between two and six months.
Just under half of job seekers we're
talking 48% would actually try to get their old job back.
So again folks, this is this really new and interesting phenomenon where people
once they take a job, they are quick to leave it if it's not what they expected.
This is not how things were prior to the Pandemic because prior
to the Pandemic, people were trying to stick it out in their jobs.
They didn't want to have problems
with their resume, they didn't want bad references.
But now people simply don't care because we're now emerging into the post pandemic
economy, which is a much more fluid economy.
It's a gig based economy.
If you lose your old job and you find
a new job that you don't like and for whatever reason,
you cannot go back to your old job, maybe you could do two or three part time jobs.
Maybe you could do different gigs.
Maybe you could be an Uber driver, Lyft driver, do something on the side,
do some online work, do some online tutoring.
That is exactly what is happening right now.
This is the new post pandemic economy.
And also mentor said that the wave
of employees quitting after a short period of time could lead to another great
resignation, which basically means millions of Americans leaving their jobs.
The great resignation actually took place during the Pandemic,
but now we could see the great resignation 2.0 where individuals could essentially
leave their jobs again in search for new jobs.
Folks, there is a silver lining to all this.
Even though 70% of individuals with their
new jobs within a few months after joining.
There is a silver lining.
And the silver lining is now the average American seems to have more options.
You're not stuck with the same dead end job.
You're not in fear of your employer
thinking, oh, my God, are they going to give me a bad reference if I quit?
You now hopefully have more options, you're more flexible,
you essentially have wings and you can choose where you want to fly.
Let me know whether you agree or disagree with this and what has been your own.
I want to know what your own job search experience has been.
Let me know in the comments section below.
Please do that because I want to know what's going on.
And on top of that, you might learn something new from other
members of our community in the comment section.
How has your own job search been?
Have you essentially taken a new job only to leave the new job within a few weeks or
a couple of months because it was not what you were expecting?
And if you did that, were you able to get another job to your liking?
Were you able to get another job that paid
you well, where you are respected, where you are valued for what you do
and you have the flexibility that we all now seek in the post pandemic world.
So now let me know what you think.
Michael finally said that companies need
to be much more upfront about what the job role is, what the expectations are because
this will help them retain workers who, if they're not happy, will eventually quit.
Mansion said this people are much more
likely to accept the good and the bad and to show up as engaged and productive
if they have entered the situation with their eyes wide open.
Well, folks, everyone's eyes are now wide open.
This is a time for the average American
to shine and hopefully, hopefully get a real shot at the American dream.
And I think we deserve it because now inflation is rising.
There's so much uncertainty in the world.
The least you should have is a good job.
A job that you enjoy, a job that matches your expectations,
not something that you feel stuck in, not something that you feel trapped in.
And hopefully you learned something new from this episode of ignition time.
Thank you so much for watching.
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I work hard on this channel every single day.
I'm looking forward to seeing you in the next episode of ignition time.
Let me know your thoughts on what 70%
of job seekers and 70% of the unemployed because they end up getting their jobs.
Let me know your experience or your thoughts on this really fluid,
dynamic situation which I call the great resignation 20.
Thank you so much.
I'm looking forward to seeing you in the next episode of ignition time.
Take care, bye.