• Fri. May 24th, 2024

72% of U.S. workers experience job regret


Jun 28, 2023
72% of U.S. workers experience job regret


The U.S. labor force has seen surging changes over the past few years. The pandemic-fueled rise of the much-talked-about “great resignation” phenomenon saw 71.6 million people quitting their jobs between April 2021 and April 2022, according to the U.S. Bureau of Labor Statistics.

Upheavals across the tech and finance sectors from mid-2022 have also caused large-scale change, with around 164,700 workers made redundant in 2022, and around 210,200 so far this year, according to Layoffs.fyi.

And this year, new fears have emerged as generative AI comes to the fore. A recent Goldman Sachs study says that generative AI tools could impact as many as 300 million full-time jobs worldwide.

The World Economic Forum (WEF) however, estimates 97 million new jobs will emerge by 2025 to enable humans and machines to work together. New job roles are rapidly emerging, such as prompt engineering, AI ethics experts, AI trainers — and more.

Labor market change

As a result, there has been a lot of change in the workplace. Many U.S. workers took advantage of the tight labor market in place during the Covid-19 period. This allowed them to set terms in a way they may have never been able to before, seeking higher salaries and benefits plus flexible work, from companies which were desperate to hire talented people.

The existing and on-going skills shortage is still working to the advantage of those with the right kind of abilities. The global talent shortage is at a 16-year-high and over the past year, 75% of companies have reported difficulty recruiting qualified talent.

For talented tech workers, a new job with great conditions at a company eager to hire them is an attractive prospect.

But it seems that the grass isn’t always greener. “Shift shock” is affecting 72% of job seekers who started a new job and regretted it, according to a recent survey.

Twenty percent of jobseekers said they would leave within a month if their new job didn’t work out, and another 41% would give a new job just two to six months before quitting.

That flies in the face of older advice which typically recommends people to stay in a job for at least a year. The thinking is that it will look bad on your resume to jump around so quickly, and that employers may not look favorably on such a short tenure.

But the fact is that in 2023, if you have the right in-demand skills, there is no onus on workers to stay in a job that is not what was advertised, or which just isn’t working out for them.

Those in-demand skills include software development, web development, DevOps, AI and ML, mobile development, cloud computing, UI/UX as well as data science and augmented and virtual reality (AR/VR).

Opportunity knocks

If you’re talented in any of these areas, then the job market still represents opportunity. To discover a new job, check out the VentureBeat Job Board. It contains thousands of open roles, like the three below.

Redwood Iam Analyst, University of California Office of the President, Oakland

The Redwood Iam Analyst will act as a technical resource for IAM related system design, configuration, and operation. This work will include configuring IAM related software, integrations with systems using IAM services, custom IAM integration or functionality coding and deployment, and support for deployed systems and services. To apply, you’ll need a minimum of five years’ of work experience in Information Technology. Get full details here.

Oracle Services – C2M/CC&B Designer/Developer – Senior – US Consulting, EY, Chicago

Your role as a Designer/Developer at EY will involve working on the management and delivery of client engagements, focusing on designing and developing custom solutions to address requirement gaps in base Oracle Utilities products. This may involve working with client resources and other EY team members. You’ll need a proven track record of four years; designing and developing within the Oracle Utilities Application Framework using Java, Groovy, and/or application scripting. Apply now.

Software Engineer Lead – Java / Spring Boot, Capgemini, Atlanta

Capgmeini is seeking Java/Springboot Developers to design, develop and maintain scalable and reliable software solutions, implement standards for software development, including code reviews, testing and deployment and collaborate with product owners, business analysts, and other collaborators to identify and prioritize technical requirements. You’ll need five years’ of experience with Java Spring Boot as well as experience with hyperscale deployed back-end microservices, AWS, Azure etc. Find out more about the job here.

Start your search for a great new job today on the VentureBeat Job Board

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