The Great Resignation regret: Why the grass isn’t always greener on the other side

People left their jobs searching for more, but regret soon arrived because many have discovered there is something beyond money, title, and status. There’s been a Great Reawakening of what’s most important and how we spend our precious minutes in life.

But why is it that the most recent job hoppers are likely to jump again?

About 40% of those who changed jobs in the past year are already looking to make another switch. Twenty-nine percent of all full-time employees in the U.S. are looking for a new gig. So what gives?

Great Place to Work® has found that Millennials and Gen Z, more than any other generations, want equity, transparency, flexibility, and purpose in their work. They have no problem quitting if their workplace does not provide these things. But this isn’t about generational differences —we’ve worked with Gen Xers and boomers that get to a point in their lives and wonder, “I’m a success on paper, but why don’t I feel successful?”

We can all admit we’re guilty of acting as if the grass is greener on the other side. The last Netflix series was better than the one to which we switched. That refreshing glass of sauvignon blanc was smarter than the celebratory shots of Irish whiskey after. Resignation regret is coming in a similar but slightly different form because it’s about your life and livelihood.

Regret comes when we’re not making the time to test and understand what’s best for us, not what others expect of us. When we don’t identify our values, it makes it harder to know which workplace will be a good fit. When we don’t ask ourselves the hard questions of how we want to define more purposeful and fulfilling lives, there’s no one else to blame if we’re not happy.

When we do the work (on ourselves, for ourselves), that’s when regret is less likely to pop up, because the intrinsic things that matter most are being considered, not just the potential pay increase. And for the most forward-thinking, “the future of work is now,” employers and managers, they realize aligning individual purpose to the organization increases retention, productivity, and profits, plus it makes for a better team and world.

What can organizations do to keep their best talent from quitting?

When workers have a sense of purpose, they’re three times as likely to stay loyal to their employer. The wake-up call is here if we’re listening. Employees are voicing their needs, and they want to show up to places they believe in. They’d like to know they’re spending the precious minutes of their day in ways that make them feel whole, real, and aligned with their personal purpose and values.

Most organizations have recognized the importance of investing in people and their workplace but have stumbled at figuring out the how — how to do it and how to drive tangible results. This starts at valuing individuals as their authentic, whole, purposeful selves, then genuinely treating them as long-term investments, not short-term expenses.

Big multinational companies like Microsoft and Google have invested hundreds of millions of dollars to reskill and upskill because they know it’s a must for a sustainable future. When Dan Schulman stepped into the CEO position at Paypal, he assumed all employees were being well-compensated; after all, it was an $80 billion-dollar company. Several years later Schulman was shocked to see that a significant number of his employees were still financially struggling, so he chose to test new ways to invest in people.

Paypal created a financial wellness program for its employees, costing the organization tens of millions of dollars. But Schulman equated this to any investment in the company. He described it as “a significant material investment in our employees” that paid off. Soon after Paypal began implementing pay raises, stock options, healthcare assistance, and financial literacy programs, they saw a rise in customer satisfaction, more engaged employees, and soaring stocks.

“Over the medium and long term, that investment will pay back to shareholders,” Schulman said. “This whole idea that profit and purpose are at odds with each other is ridiculous. [If] you ever [want to go] from being a good company to a great company, you have to have the very best employees that love what they’re doing.”

The benefit of purpose for me, for you, for everybody.

When a workplace culture is grounded in a set of aligned purpose and values, it serves as the foundation. The most effective and sustainable cultures are ones that are genuine in how they live purpose and values day to day, adapt to changing needs, and are active listeners (and doers!) to what their associates are expressing. When it aligns, we see the Double ROI — return on investment and ripple of impact — that goes from the individual to the teams/company, to its customers, partners, and everyone in its ecosystem. When done well, it ripples to our society and planet. As an example, 3 out of 4 customers will switch to a competitor brand that is known to be more purpose-focused, even if the product or service is at a higher price point.

Most organizations have a purpose statement, usually mounted on a wall, collecting dust, and only consider purpose from an organizational level. Failing to connect with the individual purpose of employees means missing the opportunity to build loyalty and grow talent. When individual purpose aligns with the organization’s purpose, it forms a deep-rooted connection, making it less likely that the employee will leave, reducing the costs of turnover. Additionally, employees who feel connected with a sense of purpose at work can increase productivity by 22%.

The proof is in the [hospital cafeteria] pudding.

A great example of the benefits of aligning purpose and values is Northwell Health. When the global pandemic hit New York’s largest healthcare provider of 80,000 employees, you can imagine how their need to triage was higher than most workplaces. The chaos and uncertainty of a new virus meant they were making multiple life and death decisions on a daily basis.

In all of the unimaginable events that happened during the pandemic, one hospital system managed to jump from #93 to #19 on Fortune’s 100 Best Companies to Work For list (across all industries). When I caught up with Sven, chief experience officer, a few months ago and asked him how they did it, his answer was simple: “People and culture.”

Related: Cultivate a culture of empathy and wellbeing for workplace resiliency

Because of the groundwork they did years prior in aligning purpose, values, and behaviors, they were ready to adapt and not just survive, but thrive. The CEO was told not to walk the hallways when the pandemic hit and he refused to listen, wanting to be with his team. They set up wellness tents to make sure the staff was properly fed and hydrated, with coaches to talk to in case anyone needed. They celebrated wins by getting together to cheer their patients after discharge.

Northwell is a living example of how investing in people can equip organizations to adapt, even in the most challenging conditions. Their impact rippled from employees to their patients, to their community, and to the state of New York. And now, as this story gets retold, they’re inspiring others to know they can do it too.

Jenn Lim is the CEO of Delivering Happiness. She is also a speaker, executive coach, and author focusing on the prioritization of workplace happiness.