The grass may look greener on the other side, but some employees have been too quick to jump the gun and resign. Here’s how HR can turn the Great Regret into an opportunity.

More and more Australian workers are resigning from their jobs, only to return to the same employer, sometimes in a matter of months.

This trend, dubbed the Great Regret, sees workers get a serious case of buyer’s remorse when starting a new job, perhaps because they saw a new opportunity through rose-coloured glasses only to realise that the real reason they left was simply due to pandemic fatigue rather than no longer wanting to work for a specific company.

A study by The Muse found that 72 per cent of workers surveyed experienced either surprise or regret that the new position or company they quit their job for turned out to be vastly different from what they were led to believe. In Australia, statistics show 4.5 per cent of all new hires among companies on LinkedIn in 2021 returned to their previous employer, up from 3.9 per cent in 2019. 

For companies looking to fill talent gaps by hiring alumni, here are a few ways you can entice them back.

1. Offer career growth opportunities

It’s no secret that people are influenced by high salaries and career advancement opportunities. This is typically why people choose to leave a company in the first place.

Pre-pandemic, it was often difficult to climb the corporate ladder in a single company without casting the career net wider. During this time, the bulk of companies were prioritising having the right people in roles, rather than thinking about how that employee will be able to progress in the long term. 

Now, career development is no longer an optional add-on, it is expected by today’s talent.

It signals that the employer values their people and is actively interested in their success. 

This is why companies that want to retain staff or lure back ex-employees need to be more diligent with the types of growth opportunities they have on offer to ensure they’re competitive in the current tight labour market. 

These opportunities don’t need to break the bank either. There’s a diverse range of career growth options that companies can offer employees internally, from lunch and learns that foster professional development and training, mentorship programs, internal secondment positions, and even job shadowing. 

2. Reconsider your benefits and perks

If a worker left a company pre-pandemic with the objective of entering a new workplace with more ‘fun’ benefits and perks – such as a gym membership, free food, and cold brew on tap – it is likely that the shine would have rubbed off once the worker realised these benefits and perks provide limited real long-term value.

A survey from Monster Intelligence discovered that along with more money, 72 per cent of workers would become return employees if their previous employer offered additional impactful benefits and perks. 

Workplaces can appeal to ex-hires by reviewing their policies and ensuring they implement benefits and perks that actually matter. This could include more flexibility, travel and living stipends, mental and physical health initiatives, mentorship, and extra paid holiday leave. 

You can also refer to HRM’s guide to progressive leave policies to better understand policies you could introduce to help bolster employee retention.

 3. Offer a sense of familiarity and comfort

When a worker takes a risk and departs a comfortable workplace in order to start a role in another company, it can be daunting. From new faces and names to remember, clients to get accustomed to, a new travel route and a high level of performance to maintain, the whole process can become quite overwhelming.

If the employee originally left on good terms, this is where they might start to miss their old workplace’s familiarity and comfort, especially if their new employer is not meeting their initial expectations or personal and professional needs, or providing opportunities to connect.

Workplaces can guarantee to be more memorable by fostering a strong company culture that makes employees feel welcome and accepted. That doesn’t just mean putting on social events, but fostering a psychologically safe culture that encourages people to speak up and take considered risks.

The key part in all this, of course, is making sure that people leave your company on good terms. That means making sure there’s a senior/executive presence at their farewell, that they’re thanked in a meaningful way for their contributions and that they feel they’re given the opportunity to share some feedback via a robust exit interview. If people leave with a bad taste in their mouth, they’re far less likely to consider your organisation as a safe place to return to.

Take advantage of the ‘Great Regret’ by rehiring top talent.
AHRI’s short course on Recruitment and Workplace Relations can be customised to your recruitment needs. Enquire today.

4. Keep in touch with alumni 

A study by Spherion found that 16 per cent of workers said they would consider going back to a previous employer if a former manager or colleague expressed interest in having them do so. 

Feeling as if you belong to your workplace community is a necessity for workers when considering where they want to work for the long term. This could include being acknowledged by management or feeling as though you can trust in your team.

When workers feel like they don’t gel with their team, they will start feeling nostalgic for their old workplace and the bonds they formed with their former colleagues. 

So HR professionals could consider setting up an alumni group on Facebook or LinkedIn to help keep those connections alive. You can then dip into that pool to offer opportunities for former employees to return to your workplace, or simply ask them to share your job ads with their own networks. It never hurts to stay in touch.

As the search for top talent continues, many workplaces are welcoming their top alumni back with open arms. And while some workers swear they will never return back to their ex, the Great Regret trend begs to differ.

Michael Osmond is the Head of People at JobAdder