From the Great Resignation to Regret Over Jumping Ship
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What is the main topic discussed in this episode?
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Here's your Money Briefing for Monday, May 2nd. I'm J.R. Whelan for The Wall Street Journal. In the Great Resignation, millions of people have quit their current jobs, lured by the prospect of higher salaries. But as the saying goes, money isn't everything. And jumping ship for better compensation doesn't necessarily translate to happiness.
You can leave your job that you're not unhappy with and discover what you really liked about it by going somewhere else.
On today's show, our workplace reporter, Catherine Dill, discusses the job market equivalent of buyer's remorse. And we'll hear from one worker who's gone through three different jobs in less than a year to find one she likes. That's after the break.
This podcast is brought to you by ReliaQuest. Cyber criminals are constantly attacking. They want your data. They want your identity. They want your innovation. ReliaQuest fortifies your business with agentic defense, AI that detects, contains, and eliminates cyber threats in minutes. It helps your security team move faster at the work that matters most to protect the business now and delivers insights to help them predict what's next. ReliaQuest, agentic defense for the enterprise. Learn more at ReliaQuest.com. That's R-E-L-I-A-Q-U-E-S-T.com.
What is 'buyer's remorse' in the Great Resignation and how did this episode introduce it?
From resignation to regret. Some people who've left their job for a new one with a better salary or perks are finding out the hard way that the grass isn't always greener on the other side. In a moment, we'll hear from one woman who quit, then went through a frustrating and disappointing process to find a job she likes. But first, WSJ workplace reporter Catherine Dill is here to talk about what's behind this trend. Hi, Catherine. Thanks for being here.
My pleasure.
So, Catherine, you've been on with us several times talking about the so-called great resignation, you know, people leaving jobs in droves looking for things like better pay or more flexibility. Refresh us as to what's triggering these mass job changes.
There's a couple of things. You know, one that's gotten a great deal of attention is that during the pandemic, people supposedly had more time to really think about what it is that they want from their careers, what's missing from their current jobs. And in response, many of them have made significant changes to their work lives, changing jobs, changing industries, changing often the ways that they make money to not be dependent on a more traditional nine to five job. But there's also considerations like before the pandemic, we had seen wages taking up a little bit in a really tight labor market. And now as companies are really struggling to fill roles and workers are moving around so much, wages are ticking up quite a bit.
And so if you've been hoping for a raise for a long time, the last year has been a really great time to get one because it's a job seekers market. Lots of people are joining that market trying to get what they're looking for.
You've spoken with several people who got caught up in this frenzy for a better work situation and recently left their jobs. What do they tell you about their experiences?
It depends on why they left their role. So for example, the man I spoke with who had been happy in his job but felt like everybody else is getting a big new job, I should be too, landed a new job, expanded responsibilities, more resources, more pay pretty quickly. But he said starting that new job, which also was fine and where he wasn't unhappy, made it that much clearer to him what he had really loved about his previous job.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:00–1:49
2
What is 'buyer's remorse' in the Great Resignation and how did this episode introduce it?
1:49–9:59
3
What factors triggered the mass job changes during the pandemic?
9:59–12:55
4
How did rising wages and a tight labor market fuel more job switching?
12:55–12:56
Speakers
4 identifiedMore from WSJ Your Money Briefing
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